Depositing over 30K in Rabodirect

[freshtea]

Hi

I deposited 45K in Rabo, but from reading posts,

Am I correct to understand, that it's earns only 5% up to 30K and the remainder is at 3.5%

If so, where should I invest the 15K to get the best return

Cheers

 

[ClubMan]

Re: Deposting over 30K in Rabodirect

I deposited 45K in Rabo, but from reading posts,

Am I correct to understand, that it's earns only 5% up to 30K and the remainder is at 3.5%

Nope - 5% on €10K and 3.75% on the other €35K. Unless you open several accounts in different names (e.g. spouse, kids etc.). Note also that the 5% is only guaranteed until January 2008 and right now that rate will fall to 3.75% on the lot unless Rabo announce something else before the end of the year.

If so, where should I invest the 15K to get the best return

See the Financial Best Buys forum for details of the best rates on offer.

 

[freshtea]

Re: Deposting over 30K in Rabodirect

thanks, no spouse or kids,(that I know of), hence being able to save.

They also have a fixed term deposit scheme:
[broken link removed]

I have no set plans with the money, accept I may buy my first house in the next 6 months. so if I will need access to it, it will need to be with about months notice.

what would you advise would be the best way to save

Cheers
A

 

[ClubMan]

Re: Deposting over 30K in Rabodirect

what would you advise would be the best way to save

If you mean best demand deposit interest rates then open one or more of the high rate accounts mentioned in the Financial Best Buys forum lists. Maybe even combine the lump sum accounts with one or more regular saver account (but check the terms & conditions for lock-ins, restrictions, rate guarantees etc.). Such strategies for combining multiple such accounts to maximise deposit returns are discussed in many existing threads.

 

[metromary]

Re: Deposting over 30K in Rabodirect

Had a look at my rabo accounts. Message for me saying that from January they will be offering 4.75% on first €10k. Not bad for withdrawal on demand

 

[ClubMan]

Re: Deposting over 30K in Rabodirect

You must be looking at something other than their demand deposit account...

Their site still [broken link removed] for me:

Online Savings On-Demand!

As a savvy saver you'll get 5.0%* on balances up to €10,000 and 3.75%** on your savings over €10,000 up to €1 million.

...

5.0%* Variable CAR. DIRT deductible on total balances up to €10,000. 3.75%** Variable CAR. DIRT deductible on balances from €10, 000 up to €1 million. Rates effective from 12.03.07 to 31.12.07. Standard variable rate applies thereafter.

 

[metromary]

Re: Deposting over 30K in Rabodirect

Very sorry, Senior moment!! That message about interest rate was sent Dec. 06! I wondered how nobody else seemed to have heard.