Savings investment

F

far2gud

Guest
Hi All,

Just wondering what would be the best savings account to open for someone saving around €500 a month over the course of say five years?

Thanks
 
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More info needed - e.g. how flexible are you on the investment term, what is your attitude to risk/volatility, what other debts/investments do you have, what is your income etc. etc.
 
Is it fair to say the BOI product is the "best"?
My girlfriend and I want to start one of these plans and think the extra flexibility is worth the slightly inferior interest rate
 
Is it fair to say the BOI product is the "best"?
No. That's like saying an apple is better than an orange!

You may prefer the BOI product as the flexibility suits your needs. Another person may not care about flexibility and just wish to maximise returns.

Different people require different things, so no account is the "best" (Unless someone brings out a 10% savings account with no restrictions ). In order to decide what is "best" for you, you'd have to look at and answer the questions raised by CM above. It may turn out that an equity investment is more suitable than a deposit (guaranteed return) investment. Even if you decide you want it guaranteed, you need to investigate the conditions on each account before deciding how much flexibility you want to have and how much interest you're willing to sacrafice to have it.
 
Thanks for the link Phoenix, some really good info there.

More info Clubman

Thanks

Profile

Age: Mid Twentys
Salary: 26,000
Debts/Investments: None
Rent €300 A Month (Live at Home)
Flexible to 7 or 8 Years on Investment Term
Open Mind to volatile investment depending on risk and potential pay off