will i put my money in bank of ireland

[mcriot29]

hey will i put my money in Double Your Interest Deposit with bank of ireland .
or should i put it in a 6 month option i feel interest rates could be up a lot in 2 years meaning the 4.5 % rate will mean i will lose out if rates where to rise to 6%.

Any one have advice what should i do its a large amount and could mean i would lose a lot of money if rates rise.

 

[jpd]

Rates are going to rise - but no one knows by how much or when, so whatever you do, don't listen to anyone who tells you they can forecast such information.

Why don't you put some off your money into the BOI option and keep the rest in a 6 month term account - that way you benefit from the higher rate availabale from BOI but will still gain from the higher rate in the future.

The banks would love you to commit to a long term now - they'll make a mint when rates go up.