Should I fix the deposit rate for one year?

cavanMan

Frequent Poster
Messages
102
With rates nearly zero is it worth fixing a new matured fixed rate account for another year?

only advantage I see is if rates go below zero the can't charge you for keeping your money for the year anyway.

thank you in advance.
 
Messages
4,885
You can get 0.97% AER Fixed with Blue Orange via Raisin.ie for 1 year.

The advantage is it is a much better rate than instant access and some return on your money is better than no return.

The risks are needing the money over the next year.

Also, 0.97% may not be enough of a reward to lock your money away.
 

Saavy99

Frequent Poster
Messages
526
no experience with those guys.......any feedback on them?
I recently invested large sum with them. The 0.97% is as good as it gets for a 12 month term. The account opening procedure is a bit fiddly but their customer service is superb and you get great support from them . They also give an opening bonus of up to €100 and I also got a €50 referral bonus. That 150 alone is far more than any Irish bank would give you on a €100,000 investment.
 

cavanMan

Frequent Poster
Messages
102
I recently invested large sum with them. The 0.97% is as good as it gets for a 12 month term. The account opening procedure is a bit fiddly but their customer service is superb and you get great support from them . They also give an opening bonus of up to €100 and I also got a €50 referral bonus. That 150 alone is far more than any Irish bank would give you on a €100,000 investment.
Thanks for the advice much appreciated.
 

faketales

Registered User
Messages
24
Regarding Blue Orange is their any conditions on the Latvian Deposit Protection Fund? For example would their be an issue not being a citizen or resident? Are these protections guaranteed by Europe in any way. While its good to see the protection I have no understanding of the political or banking systems in Latvia.
 

tomdublin

Frequent Poster
Messages
79
Regarding Blue Orange is their any conditions on the Latvian Deposit Protection Fund? For example would their be an issue not being a citizen or resident? Are these protections guaranteed by Europe in any way. While its good to see the protection I have no understanding of the political or banking systems in Latvia.
There shouldn't be any restrictions regarding citizenship or residency but the deposit protection isn't guaranteed by the EU. That adds a measure of risk which is reflected in the higher interest rates they are offering.
 
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