Best options for €25k lump sum

D

dazeconfuse

Guest
I have about €25k to save. I want to put this away for my daughter's education, so can lock it up for a fairly long period (15 years). I don't want to take any risks with it. I'd be grateful for advice on the best options. Many thanks.
 
I'd be inclined to put it all into Tax Free Post Office Bonds or Certificates.
State guaranteed and better rates than any Bank at present (or for the foreseeeable future).


State Savings: Savings Bonds
3 Years 3.23% (A normal deposit account would need to be paying 4.30% to match this rate because this product is not subject to DIRT at 25%) ** Best 3 year rate **
Note 1: €120,000 maximum
Note 2: Early withdraw is possible but is subject to interest penalties.

State Savings: Savings Certificates 17th issue
5.5 Years 3.53% (A normal deposit account would need to be paying 4.70% to match this rate because this product is not subject to DIRT at 25%)** Best 5.5 year rate **
Note 1: €120,000 maximum
Note 2: Early withdraw is possible but is subject to interest penalties. Interest is not accrued on a daily basis, it is accrued each six months from date of purchase. You can withdraw at any time during the term but you will loose any non accrued interest.
 
Thanks for this information. These are completely safe are they? Would these be better than An Post products I've heard mentioned, or are they the same?(sorry, finding it hard to get my head around all the different options)

Are there any options for locking funds away for a longer period than 5.5 years, that might pay more?

Thanks again.
 
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