regular saver v's lump sum

I was trying to calculate are regular saver accounts worth investing in?

Using the calculator [broken link removed] if I invest 1000 euro a month for 12 mths in a regular savers at 5% the interest return is 322 euro. If I put a lump sum of 12000 into an account paying 2.8% interest for a year, the interest return is 336. If this is correct, regular savers account do not seem good value in drip feeding funds into them. A demand account paying 3.5% would seem to be a better option. Based on the figures shown which is the best option? Please advise.

But don't forget - you will also be making interest on the account you are drip feeding from.

Agreed.

If you have 12,000 EUR then you have the option of opening an Anglo on demand at 3.60% and feeding an Anglo regular saver at 5.50%.

Does the Anglo Irish bank have a demand saving at 3.60% ? Also what is the BoI savings on demand?

Joody

Anglo's [broken link removed] is currently 3.6%

Joody1 said:

Does the Anglo Irish bank have a demand saving at 3.60% ? Also what is the BoI savings on demand?

Click to expand...

BOI's on demand rate is 0.01%.

Go with Anglo.

Just to point out that the Halifax Flexisaver is a demand account paying 3.75% on balances up to €10,000 in year 1.
2% is paid on the balance above 10K.

This may be a better option for feeding an Anglo regular saver as I believe one of the stipulations of the Anglo regular saver is that the funds must come from an external account.