I heard before that holders of a Smart Save account can get a discount rate for mortgages / personal loans. Might be no harm to check it out.For someone who would be saving monthly over the next 3-4 years for a deposit on a house, is there much difference between the Easy Saver and the Smart Save regular Savings accounts?
This is the second best rate for a Regular savings acc at the moment! (Anglo=7.3%)
Opened a Bank of Ireland Easysaver last March with maximum monthly amount €500. Reached the max of €5,000 in last month, December, so had to close it as it falls from 7% to 3% when over €5,000. Received final amount of €5,113.95. I think this is poor return and, as I'm not good at calculations, wonder is this correct? I drip fed the monthly payments from an on demand Northern Rock account (5%). If I hadn't bothered and left the money in Northern Rock I would have got €5,100. So for setting up a DD and watching my current account balance every month I made the sum of €13.95.
The AIB Parent Saver Accounts offer 8.25% on monthly deposits. This is surely the highest regular saver rate available and was as high as 10.25% last year. Anybody can open these accounts (not just parents) and with the maximum of four you can save 4 x €200 = €800 a month.
Hi Perplexed.Oldtimer. There was no need to close your easysaver. The €5000 still would have earned 7% only the amount over €5k would be on the 3%. You could have reduced your DD to €20pm.
I think the rate will be coming down shortly anyway.
The AIB Parent Saver Accounts offer 8.25% on monthly deposits. This is surely the highest regular saver rate available and was as high as 10.25% last year. Anybody can open these accounts (not just parents) and with the maximum of four you can save 4 x €200 = €800 a month.