where to save €535 (childrens allowance) monthly over 10 yrs?

F

flerek06

Guest
have 3 kids 5yrs 3yrs and newborn, we are thinking of saving allowance over long period, anyone any suggestions as to where 2 put it? thanks
 
Fully agree with Pope John. Saving certificates are best long term at the moment (see Best Buys). They are hassle free, DIRT free and state guaranteed. They are ideal investment for children, and in the current climate, ideal for anybody putting away long term.
 
flerek06 said:
have 3 kids 5yrs 3yrs and newborn, we are thinking of saving allowance over long period, anyone any suggestions as to where 2 put it? thanks
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The best return on a regular saver product is 7.30% with Anglo Irish. See http://www.askaboutmoney.com/showthread.php?t=20747

Anglo Irish Bank: Regular Annual Saver (Discuss)

7.30% Regular lodgements (electronic transfer or standing order): Maximum €1,000 a month. Minimum rate guaranteee of ECB+2%. No penalty for occasional missed contributions. Effective Maximum Balance €13,000, as account lasts for one year -- withdrawals in first 6 months may incur a penalty.
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One option is to put your 535 EUR per month in Anglo for year one. Then review your options/best buys after the first year.
 
Aib parent plan is currently 8.25%. Remember it variable so likely to drop further. At face value it looks good even at 8.25% but is riddled with terms and conditions which need to be studied carefully.
 
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