Prize Bonds for short term savings

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Roro999

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Looking to purchase a house for cash €300k in the next 6 to 9 months. Need easy access. Would putting the €300k into prize bonds be an OK idea ?
 
You'll almost certainly get a better return by putting it (if necessary in tranches of €100k if you want to be cautious in relation to the deposit guarantee scheme) on deposit:

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Savings Best Buys: There are 3 savings best buy threads on AskAboutMoney that are updated frequently. Instant Access and Notice Accounts - Lump sum variable rate savings. Fixed Term Deposits - Fixed Lump Sum Term Deposits from a few months to a few years. Regular Savings - Smaller sum...
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Thanks. Of the 3 Irish banks AIB is offering 0.75% for 6 months. Only Irish bank offering 6 month fixed term. Could put 200k in AIB joint account I suppose. Is that 0.75% then 200k x 0.75% less dirt ? Cannot get interested in Raisin etc., for some reason.
 
Roro999 said:
Thanks. Of the 3 Irish banks AIB is offering 0.75% for 6 months. Only Irish bank offering 6 month fixed term. Could put 200k in AIB joint account I suppose. Is that 0.75% then 200k x 0.75% less dirt ? Cannot get interested in Raisin etc., for some reason.
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I have had 140K sitting in Prize Bonds for about a year for renovation funds, now being drawn down for said renovations. Other funds are in credit union accounts, Bunq, Lightyear, Revolut, PTSB etc., possibly a few more places.
During that time I've won the grand total of €100 on Prize Bonds :)
It is extremely tedious transferring funds into PB electronically, BTW. My Irish bank where the funds were initially only allows 2.5K a per day (and sometimes, you need to pay for something else) so it took a looong time.
You could open a Bunq account in about 10 minutes. Earns 1.56% (minus DIRT) on up to 100K, which is paid out once a week. Something curiously fun about seeing a free €30 or so go into your account every week. Instant access, two withdrawals available per month.
 
nephster said:
I have had 140K sitting in Prize Bonds for about a year for renovation funds, now being drawn down for said renovations. Other funds are in credit union accounts, Bunq, Lightyear, Revolut, PTSB etc., possibly a few more places.
During that time I've won the grand total of €100 on Prize Bonds :)
It is extremely tedious transferring funds into PB electronically, BTW. My Irish bank where the funds were initially only allows 2.5K a per day (and sometimes, you need to pay for something else) so it took a looong time.
You could open a Bunq account in about 10 minutes. Earns 1.56% (minus DIRT) on up to 100K, which is paid out once a week. Something curiously fun about seeing a free €30 or so go into your account every week. Instant access, two withdrawals available per month.
Click to expand...
Is Bunq 100% safe ? Do they deduct DIRT automically ?
 
Roro999 said:
Is Bunq 100% safe ? Do they deduct DIRT automically ?
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Extensive thread on them on AAM.
1/ Yes, as much as any EU bank is. Depositor guarantee from the Dutch govt. up to 100K I believe.
2/ Only domestic Irish financial institutions will deduct DIRT automatically.
 
nephster said:
Extensive thread on them on AAM.
1/ Yes, as much as any EU bank is. Depositor guarantee from the Dutch govt. up to 100K I believe.
2/ Only domestic Irish financial institutions will deduct DIRT automatically.
Click to expand...
Thanks. Will look into. Says on best buys interest is paid monthly not weekly.
 
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