25k fixed term saving account

[AJ1]

Hi there,

Have 25K i wish to put into a fixed rate saving account for a year (hopefully this will serve as a deposit for a house in the future). Have had a look at the best buys section and was going to go with EBS fixed rate account at 3.8 %. Have made an apt to open the account on monday.

Have just been looking at Irish Nationwides fixed term accounts with an interest rate of 4.65% and am wondering can anyone tell me what the difference is between a fixed rate bond and a fixed term share account. Would the 25K plus interest be guaranteed in both these accounts? Sorry haven't a clue

Thanks in advance!

 

[oldtimer]

EBS is certainly not the best. Best at the moment fixed for 1 year is Anglo Irish Bank @ 4.9%. As you say, Irish Nationwide @ 4.65% also beats EBS. You would want to move fast as rates likely to come down again next week.

 

[Lightning]

can anyone tell me what the difference is between a fixed rate bond and a fixed term share account. Would the 25K plus interest be guaranteed in both these accounts? Sorry haven't a clue

There is no difference. They are both term deposits. I wish banks would call term deposits just that.

The 25K is state guaranteed in both accounts.

As oldtimer indicated it is not in your financial interest to choose EBS. You are better off with Anglo.