I have got a deposit together for a house but I am holding off buying until the market settles down. I'll be heading off to Australia in the mean time and I want to leave the money somewhere safe. It looks to me like the best rates available for a sizeable lump are from Anglo.
Anglo offer different rates depending on how long you are leaving the money with them. The shorter the period the better the rate. I'm presuming this is because they are guaranteeing the rate for the term of the deposit and they would have to absorb any changes in the ECB base rate.
The rates are:
3 months 4.88%
6 months 4.86%
12 months 4.76%
Can I put the money on three month deposit and then redeposit each quarter? The implication being that if there any interest rate changes in a given quarter then I will have to pay these in the following quarter?
I understand I can get a few hundred quid extra by spreading the money around Rabo, First Active and Anglo but I have to decide if it's worth the bother.
Also, with the stupid way the interest is applied on this First Active account am I going to have to transfer the interest out each month to stay below €15,000? Is this going to attract extra costs?
And, I see EBS have a platinum account for investing over €150,000 which tracks the EURIBOR rate. At the moment the rate on this is 4.93% but it changes monthly.
Even better, I see the EBS fixed term rates actually look better than Anglo's. These are for €100,000 plus.
12 months 4.85%
9 months 4.88%
6 months 4.91%
3 months 4.94%
Anglo offer different rates depending on how long you are leaving the money with them. The shorter the period the better the rate. I'm presuming this is because they are guaranteeing the rate for the term of the deposit and they would have to absorb any changes in the ECB base rate.
The rates are:
3 months 4.88%
6 months 4.86%
12 months 4.76%
Can I put the money on three month deposit and then redeposit each quarter? The implication being that if there any interest rate changes in a given quarter then I will have to pay these in the following quarter?
I understand I can get a few hundred quid extra by spreading the money around Rabo, First Active and Anglo but I have to decide if it's worth the bother.
Also, with the stupid way the interest is applied on this First Active account am I going to have to transfer the interest out each month to stay below €15,000? Is this going to attract extra costs?
And, I see EBS have a platinum account for investing over €150,000 which tracks the EURIBOR rate. At the moment the rate on this is 4.93% but it changes monthly.
Even better, I see the EBS fixed term rates actually look better than Anglo's. These are for €100,000 plus.
12 months 4.85%
9 months 4.88%
6 months 4.91%
3 months 4.94%