# Best Place to Lodge €40K with Access Required



## lagrefy (30 Dec 2008)

I've about €40K in an AIB current account that I want to earn some interest on. I will be using this money for living and business expenses over the next 12mths, so I need regular access to it.

I don't need immediate access to all the money. Eg it would be fine if I could access 20K with 7 days' notice and the remaining 20K with one month's notice.

I've just moved €10K (of the 40K) to an AIB Online Notice 7 Account, which gives me access to the money with 7 days' notice and an AER of 3.75% variable. The AER drops to 2.01% AER on amounts over €10K.

Please reply with any suggestions as to where I might deposit the money?


----------



## MONAGHANSG (30 Dec 2008)

Anglo Irish Bank's Premium Demand account pays 5.5% on all amounts up to 100K, with no notice needed for withdrawals, see: [broken link removed]


----------



## Lightning (30 Dec 2008)

Yeah, take your money out of AIB. It is low interest and there is no need to be in a notice account. 

As MONAGHANSG says Anglo Irish has the market leading rate.


----------



## lagrefy (31 Dec 2008)

Thanks for that, Anglo looks very attractive.

Are Anglo protected by the Govt. guarantee scheme?


----------



## AlbacoreA (31 Dec 2008)

Any alternatives to Anglo ?


----------



## Lightning (31 Dec 2008)

lagrefy said:


> Thanks for that, Anglo looks very attractive.
> 
> Are Anglo protected by the Govt. guarantee scheme?



Yes, 100% state guaranteed.


----------



## Lightning (31 Dec 2008)

AlbacoreA said:


> Any alternatives to Anglo ?



For a 40K on demand deposit? 

If you really do not want to go with Anglo then you have 3 options ... 

1) Ulster bank at 5.00% but with lots of T&C's but with the potential for "bonuses" in the rate. Read the small print here under "lump deposit": http://www.itsyourmoney.ie/costcomparisons.jsp
2) First Active at 5.00% but with lots of T&C's but with the potential for "bonuses" in the rate. Read the small print here under "lump deposit": http://www.itsyourmoney.ie/costcomparisons.jsp
3) Northern Rock at 5.00%, no major T&C's.

but Anglo Irish really are your best bet at 5.5%


----------



## AlbacoreA (31 Dec 2008)

Thanks for all the info thats great.


----------



## allthedoyles (31 Dec 2008)

check out your local credit union


----------



## oldtimer (1 Jan 2009)

Credit unions are not attractive places for savings. Most are paying between 1.5% -2.5%. Doubtful any come near 5% or more.


----------



## Lightning (1 Jan 2009)

oldtimer said:


> Credit unions are not attractive places for savings. Most are paying between 1.5% -2.5%. Doubtful any come near 5% or more.



Exactly. There was a great article in the Sunday Business Post recently stating that some Irish Credit Unions are now paying zero interest at the moment. It varies locally (0%-2.5%) but none come close to being a place where should put your money if you want to see your savings grow.


----------



## lagrefy (6 Jan 2009)

Thanks a lot everyone, I'm going to go with Anglo.


----------



## Carramore (6 Jan 2009)

I recently discovered Halifax and found them very good.  They pay 10% interest per annum on current account balances up to €2,000, provided that you pay €1,500 per month into the account.  They also pay 5.15% (I think) per annum on a savings account that allows instant access to your money.  They also pay high interest on fixed term savings accounts and allow immediate access to a portion of the money.  Details are on the web site .


----------



## Lightning (7 Jan 2009)

Carramore said:


> I recently discovered Halifax and found them very good.  They pay 10% interest per annum on current account balances up to €2,000, provided that you pay €1,500 per month into the account.  They also pay 5.15% (I think) per annum on a savings account that allows instant access to your money.



They offer a good current account package and some second place (in the market) term deposit accounts. 

For their Instant saver account watch the small print. The rate applies for year one only and only on amounts up to 10,000 EUR. Your better off with Anglo Irish for on demand savings.


----------



## norbatious (9 Jan 2009)

Investec are offering 5.91 on €20k  over 12 months with access


----------



## Lightning (9 Jan 2009)

norbatious said:


> Investec are offering 5.91 on €20k  over 12 months with access



Very interesting. 

The Financial Regulator now says "Rate changes daily. Please contact Investec for further details." for Investec rates. 

Seems that Investec are number 2 after Anglo for 12 month TD's.


----------

