# which form of deposit account to use..



## fuzzy10 (12 Jun 2010)

I have 10-15k to invest into a savings account. I was looking at the *a* Regular Savings Account (*EBSFamily SavingsAccount* 4% max 12k) or a Fixed TermDeposits account?

Which would be best? I can afford to put the money away for 1/2 years. The regular savings account offer better rates than the fixed term? 

Any suggestions!


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## laughter189 (12 Jun 2010)

http://www.itsyourmoney.ie/lumpsumdepositcomparison

A great website


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## fuzzy10 (12 Jun 2010)

cheers, im tempted by the *Nationwide UK (Ireland): Easy Access* *3.30% and the **EBS Family Savings Account* 4%


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## Lightning (13 Jun 2010)

Have you read the 3 best buy threads here?

You can only put 1,000 EUR up front into the EBS account. 

Nationwide UK offer the highest rate for instant access.


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## fuzzy10 (13 Jun 2010)

Hi CiaranT,

Yes, I read the 3best buys thread, it’s very useful. I have decided to go with Nationwide UK. 

Before I apply, how safe is it to bank with Nationwide UK, is your money guaranteed to be safe? Will Nationwide UK be another Halifax?

Cheers


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## Lightning (14 Jun 2010)

The first 50,000 GBP is protected by the UK Govt. 

Nationwide UK are the largest building society in the UK.


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## fuzzy10 (15 Jun 2010)

thanks ciaran for the reply.

I see that the "easy access" account has a 3.30% variable rate. Can this rate decrease during a 12month period? The 12month fixed is 3.20% guaranteed? Is it not better to just take the 3.20% guaranteed?

cheers


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## Lightning (15 Jun 2010)

The 3.3% rate could change at any stage. 

If you can lock for a year, then yes you are probably better off with the 3.20% term deposit.


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## pat k (15 Jun 2010)

check out p t s b I cant remember exacally what the terms are but remember that they had the best as of last month


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## Lightning (15 Jun 2010)

What do you mean by 'best'?

The highest rate for a one year term deposit is Anglo's & INBS's rate of 3.50%.


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## djCoors (16 Jun 2010)

Is it possible to keep opening one year fixed term accounts.For example,if you had a 1 year fixed account with Anglo,on the date of maturity,can you open a new fixed term account with them the next day?


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## Lightning (16 Jun 2010)

yes, you can


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## djCoors (16 Jun 2010)

Thanks Ciaran, I think I shall put some money with them for one year and I don't have to think about it.


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## fuzzy10 (16 Jun 2010)

Should we be concerned about the safety of term deposits with Irish Nationwide and Anglo ! These banks seem very unstable


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## djCoors (17 Jun 2010)

fuzzy10 said:


> Should we be concerned about the safety of term deposits with Irish Nationwide and Anglo ! These banks seem very unstable


 
I think that they would be quite safe.Especially Anglo beause it is owned by the governemnt now

"I want to stress that, of course the ordinary Deposit Guarantee Scheme that covers €100,000 per depositor per institution is in place and will continue on a permanent basis. Nothing in today’s announcement changes that position."

Quote from Brian Lenihan, Mar 2010


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## fuzzy10 (17 Jun 2010)

djCoors said:


> I think that they would be quite safe.Especially Anglo beause it is owned by the governemnt now
> 
> "I want to stress that, of course the ordinary Deposit Guarantee Scheme that covers €100,000 per depositor per institution is in place and will continue on a permanent basis. Nothing in today’s announcement changes that position."
> 
> Quote from Brian Lenihan, Mar 2010


 
Yes.. but we keep hearing calls for anglo to be shut down!


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## djCoors (17 Jun 2010)

fuzzy10 said:


> Yes.. but we keep hearing calls for anglo to be shut down!


 
I think your money would still be guaranteed.More info here [broken link removed]


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