which form of deposit account to use..

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fuzzy10

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I have 10-15k to invest into a savings account. I was looking at the a Regular Savings Account (EBSFamily SavingsAccount 4% max 12k) or a Fixed TermDeposits account?

Which would be best? I can afford to put the money away for 1/2 years. The regular savings account offer better rates than the fixed term?

Any suggestions!
 
Have you read the 3 best buy threads here?

You can only put 1,000 EUR up front into the EBS account.

Nationwide UK offer the highest rate for instant access.
 
Hi CiaranT,

Yes, I read the 3best buys thread, it’s very useful. I have decided to go with Nationwide UK.

Before I apply, how safe is it to bank with Nationwide UK, is your money guaranteed to be safe? Will Nationwide UK be another Halifax?

Cheers
 
The first 50,000 GBP is protected by the UK Govt.

Nationwide UK are the largest building society in the UK.
 
thanks ciaran for the reply.

I see that the "easy access" account has a 3.30% variable rate. Can this rate decrease during a 12month period? The 12month fixed is 3.20% guaranteed? Is it not better to just take the 3.20% guaranteed?

cheers
 
The 3.3% rate could change at any stage.

If you can lock for a year, then yes you are probably better off with the 3.20% term deposit.
 
check out p t s b I cant remember exacally what the terms are but remember that they had the best as of last month
 
What do you mean by 'best'?

The highest rate for a one year term deposit is Anglo's & INBS's rate of 3.50%.
 
Is it possible to keep opening one year fixed term accounts.For example,if you had a 1 year fixed account with Anglo,on the date of maturity,can you open a new fixed term account with them the next day?
 
Thanks Ciaran, I think I shall put some money with them for one year and I don't have to think about it.
 
Should we be concerned about the safety of term deposits with Irish Nationwide and Anglo ! These banks seem very unstable
 
fuzzy10 said:
Should we be concerned about the safety of term deposits with Irish Nationwide and Anglo ! These banks seem very unstable
Click to expand...

I think that they would be quite safe.Especially Anglo beause it is owned by the governemnt now

"I want to stress that, of course the ordinary Deposit Guarantee Scheme that covers €100,000 per depositor per institution is in place and will continue on a permanent basis. Nothing in today’s announcement changes that position."

Quote from Brian Lenihan, Mar 2010
 
djCoors said:
I think that they would be quite safe.Especially Anglo beause it is owned by the governemnt now

"I want to stress that, of course the ordinary Deposit Guarantee Scheme that covers €100,000 per depositor per institution is in place and will continue on a permanent basis. Nothing in today’s announcement changes that position."

Quote from Brian Lenihan, Mar 2010
Click to expand...

Yes.. but we keep hearing calls for anglo to be shut down!
 
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