# Monthly savings-best rate??!!



## adele11 (30 Mar 2009)

Hello
My partner and I are trying to save for the short term future and are putting away €2k a month,the likliehood is we will need this about this time next yearso cant really look at any accounts where we would be locked in.
At the moment I am just keeping it in my Online deposit account with AIB and i think the interest rate is very low,but does anyone have any better suugestions on what the best return would be for this?
Thanks


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## Guest128 (30 Mar 2009)

As usual, the best place to look would be the Savings section in the  forum. 
As a first suggestion, I would look at Anglo's "Regular Saver" which can have a max of €1K per month and the account can only last a year. Currently the rate is 7.3%, min ECB + 2%


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## Darando (30 Mar 2009)

thats 1k each btw, so you could save 2k with Anglo in 2 different accounts.


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## Lightning (30 Mar 2009)

adele11 said:


> At the moment I am just keeping it in my Online deposit account with AIB and i think the interest rate is very low,but does anyone have any better suugestions on what the best return would be for this?
> Thanks



AIB are giving 0.01% on a lot of their savings accounts. You are best off closing your AIB account. 

As the previous posters indicated an Anglo Irish regular saver joint account is your best buy for your needs.


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## Taxi Driver (30 Mar 2009)

fungus said:


> AIB are giving 0.01% on a lot of their savings accounts. You are best off closing your AIB account.
> 
> As the previous posters indicated an Anglo Irish regular saver joint account is your best buy for your needs.


 
While not great the AIB Online Notice Account is many times better than 0.01%. It is 3.75% on all amounts up to €10,000 and 2.00% on any amount over €10,000. Not great but at least it's better than 0.01% so at least getting something for the money.


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## Bobby1 (31 Mar 2009)

EBS are offering 5.10% fixed for 12 months on a " Family Savings Account" 
They let you lodge 100-1000 a month. Not as high as other rates such as Anglo but at least its fixed. Only snag is you can make one withdrawal a year.


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## NHG (31 Mar 2009)

With the AIB Online savings a/c you also get a tiered bonus depending on the number of years your account is open which helps to bring the interest rate up a little bit.  I think that I am on a 30% bonus this year (hope I am anyway), I think it reverts back to 10% in sixth year.


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## Guest128 (1 Apr 2009)

Is there any info on that on the web, cant find any on AIB site


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## Taxi Driver (1 Apr 2009)

NHG said:


> With the AIB Online savings a/c you also get a tiered bonus depending on the number of years your account is open which helps to bring the interest rate up a little bit. I think that I am on a 30% bonus this year (hope I am anyway), I think it reverts back to 10% in sixth year.


 
This is only a reasonable option.  The current base rate is 2.75%.  If you meet the conditions and get the 10% bonus in the first year this gives a rate of 3.025%.  In year three the 30% bonus brings the rate to 3.575% and this is approximately the "average" long term rate on the account.  The maximum rate possible is 4.125% and that only happens one year in five.  This is provided you meet the conditions of actually getting the bonus interest.  Otherwise you're back to 2.75%.

As the account doesn't have a time or balance limit it is somewhat useful if you are considering savings €1000 per month for a number of years.  But even at that there are better options available up to a €100,000 balance limit.  As the OP wants a short term account I wouldn't recommend this.


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## MONAGHANSG (1 Apr 2009)

Here is the link for the AIB online PSP: [broken link removed]


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## Guest128 (2 Apr 2009)

Thanks!.....still doesnt look great though, dont like the idea of _having_ to stick with AIB for five years just to get 4.125%


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## Patches007 (2 Apr 2009)

Did you conszider trying Irish Nationwide or EBS, for some short-term bond?
I think thay might pay better interest, in short-term bonds.


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