Best Savings Option

H

Haille

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Looking for best savings option to invest 15,750 euros for 3 years. I have 15,000 euros invested in a Savings Certificate since 2018 which is due to mature shortly with 750 euros interest I need the money in 3 years. Looked at the option of 3 year savings bond for 3 years with total interest at 4 percent after 3 years assuming DIRT free. Looked at prize bonds also. What rate of interest would I need to get from banks that would be better than 4 percent allowing for DIRT deduction. Many thanks
 
The best Irish bank rate i've seen is the 3 year term deposit with PTSB. 9% total after 3 years (gross). Thats 6% Vs 4% (savings bond) Net.

Fixed Term Deposit Account for Lump Sums | permanent tsb

Get rewarded for being patient with our Fixed Term Deposit Accounts. With terms from 3 months to 5 years you can choose the right term for your lump sum.
www.ptsb.ie www.ptsb.ie

For 15750 after 3 yrs you would get 1,461 gross interest (978 after tax) = 15750 + 978 = 16,728. That's better that State Savings bonds.
 
If you're willing to look at non-Irish banks, have a look at the best buys thread here...

Best Buy - Term Deposits (Fixed Lump Sum Savings)

Rates are frequently updated. Information last changed: 4 April 2024. Highest Term Deposit Rates 1 Year - BluOr (Direct) and A&G via Raisin - 3.50% 2 Years - BluOr (Direct) and TFBank via Raisin - 3.40% 3 Years - BluOr (Direct) - 3.30% 4 Years - TFBank via Raisin Bank - 3.25% 5 Years -...
www.askaboutmoney.com
 
With regard to PTSB, bear in mind that if you need to withdraw the money before the 3 years is up, they charge you a 'withdrawal fee'

State savings don't have such a fee.
 
Haille said:
Looking for best savings option to invest 15,750 euros for 3 years. I have 15,000 euros invested in a Savings Certificate since 2018 which is due to mature shortly with 750 euros interest I need the money in 3 years. Looked at the option of 3 year savings bond for 3 years with total interest at 4 percent after 3 years assuming DIRT free. Looked at prize bonds also. What rate of interest would I need to get from banks that would be better than 4 percent allowing for DIRT deduction. Many thanks
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I’m in the exact same boat. I’m just about to invest 66k with PTSB - for 3 years @ 3 percent per year - 9% minus dirt - fully covered under the 100k government gaurantee - it’s the best 3 year deposit rate at the mo, if you happen to unexpectedly need it - you can / but penalties
 
If you need access to money quickly, you can get 4% from trade republic with instant access anytime. That's a variable rate, much better deal than any irish banks and no penalty for withdrawal, monthly interest. max 50k
 
settlement said:
If you need access to money quickly, you can get 4% from trade republic with instant access anytime. That's a variable rate, much better deal than any irish banks and no penalty for withdrawal, monthly interest. max 50k
Click to expand...
Invested with foreign banks via Trade Republic?
 
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