Hi Keen Ark, you often get better interest rates for regular savings accounts than lump sum. For example Ulster Bank has one that gives 0.85% interest on balances up to €15,000. There are likely some T&Cs that would need to be checked to see if it suited you. You could slowly (& regularly) transfer in €1000 a month until all your rainy day fund is in there. If the Rainy Day Fund is greater than €15,000 you would only get 0.15% interest on anything over the €15k. At that stage you could look at an alternative account for amounts over the €15k.
Hi Keen Ark, you often get better interest rates for regular savings accounts than lump sum. For example Ulster Bank has one that gives 0.85% interest on balances up to €15,000. There are likely some T&Cs that would need to be checked to see if it suited you. You could slowly (& regularly) transfer in €1000 a month until all your rainy day fund is in there. If the Rainy Day Fund is greater than €15,000 you would only get 0.15% interest on anything over the €15k. At that stage you could look at an alternative account for amounts over the €15k.
Thanks very much! Will definitely look into that after ChristmasThe Ulster Bank home saver ( regular saver)provides 0.85% on balances up to €25,000. Max €2,500 per month.
Thanks! I think I'll probably go that routeYou could buy prize bonds and win an odd €50. I actually got numerous wins with one of €1000. Since interest rates dropped a lot of corporate money found it's way there this reducing the small man's chance but, that's the way I'd go.
Sorry, I missed this. Thanks, will definitely shop around.I notice you mentioned that your pension is managed by the bank. Check out what you are being charged.
If your pension contribution is not being allocated 100% and your management fees are greater than 1% you should shop around.
Some pensions offered by banks have terrible fund performance, are not good value/charge high fees which effectively take your profit while you take the risk.
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