State Saving Certificates

Discussion in 'Deposits' started by Logo, Nov 4, 2016.

  1. Logo

    Logo Frequent Poster

    Posts:
    65
    I've put aside €45k in state savings certs (issue 22- 5 Years 0.98%, tax exempt) for children's education (both in first year secondary school now). Doing the maths I will accrue €2750 over the five years - or €550 per year. I'm just wondering if I could invest in something more lucrative?
    PS. I appreciate that like me, most posters on this forum are looking to maximise returns too Any help is appreciated.
    Thanks
     
    Marion likes this.
  2. Sue Ellen

    Sue Ellen Moderator.

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    7,820
    Hi Logo,

    Have you had a read through the Best Buys info.
     
  3. Logo

    Logo Frequent Poster

    Posts:
    65
    Yeah Sue Ellen, I really appreciate the up to date posts from CiaranT!
    Can't really see any decent alternative atm - and realise that the uncertaintity of the US election and Brexit doesn't help matters:)
     
    CiaranT likes this.
  4. CiaranT

    CiaranT .

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    4,386
    You have chosen the product with the highest 5 year rate return for deposits.

    Other options include:
    - One can open up multiple regular saver accounts and most likely generate a higher return. This requires a lot of effort and you really need to know what you are doing.
    - Investment products might be worth considering.
     
  5. Logo

    Logo Frequent Poster

    Posts:
    65
    Last edited: Nov 4, 2016
    Thanks CiaranT for posting the most up-to-date best buys thread and helpful information. Although I think I'll have to stick with the 0.98% return,,,
     
    Last edited: Nov 4, 2016
    Sarenco likes this.
  6. Logo

    Logo Frequent Poster

    Posts:
    65
    Last edited: Nov 30, 2016
    I was lucky enough lately to have 15K in a current account and invested in saving certificates. Now I'm wondering if the time & effort was worth the hassle - given the paltry sum of €917 after five years. It will be vital for my children's education as I reckon that a decent education is probably the best investment I can provide. Am I being too financially cautious?

    Thanks
     
    Last edited: Nov 30, 2016