# best interest rate



## starlite68 (16 May 2008)

hi 
have a lump sum of money which i wish to invest in a bank to get a good rate of interest,but i may also need access to the money on short notice.i dont want to bank online....anyone any ideas please.


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## starlite68 (16 May 2008)

thanks clubman.......still cant bring myself to trust online banking....silly i know!


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## ClubMan (16 May 2008)

_Northern Rock _deposits at 5% for any amount over €1K are 100% guaranteed by _Her Majesty's Government _if you are nervous.  Just take the normal security precautions when banking online and there should be no problem.


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## Guest128 (16 May 2008)

In light of recent lost laptops etc, can "regular" banking be regarded as trustworthy either?


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## starlite68 (17 May 2008)

point taken flanders


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## ClubMan (17 May 2008)

starlite68 said:


> point taken flanders


As were the laptops!


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## ft5j60j (18 May 2008)

5% seems to be the best out there at the moment.


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## ClubMan (19 May 2008)

There are higher rates on offer for capped sums and on regular savings. See the _Financial Best Buys _lists as I suggested above.


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## Shepahoy (20 May 2008)

The NR 5% is that only iF you go with Annual Interest instead of Monthly option?


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## ClubMan (20 May 2008)

Yes. But you don't lose out even if the money is not on deposit for the full year. And there is no reason to choose the lower monthly rate unless you really need the monthly interest as an additional income stream.


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## Shepahoy (20 May 2008)

Thx.


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## hupourdat (20 May 2008)

Are Irish Nationwide offering 5% on a 21 day notice account? Any catches on this a/c?


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## ClubMan (20 May 2008)

Well you can get the same rate on demand from _NR _and with a better guarantee on your money in a worst case scenario.


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## hupourdat (20 May 2008)

Being a bit of a traditionalist here - would like to place the business locally with a name I know!


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## ClubMan (20 May 2008)

Each to his/her own but that makes no sense to me when you can get the same rate on demand with a better guarantee on funds from _NR_.

As for catches - I don't think that there are any but a quick perusal of the product summary and detailed terms & conditions should tell you for sure. Make sure to also check the _Financial Best Buys _forum lists of the best deposit accounts/rates on offer. You can get more than 5% on capped amounts with certain institutions (e.g. _First Active, Halifax_).


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## hupourdat (20 May 2008)

Thanks Clubman, 

I think its just the Irishness coming out in me!


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## ClubMan (20 May 2008)

If you restrict yourself to wholly owned _Irish _banks only then you will severely limit your options!


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## hupourdat (20 May 2008)

Why would I be limiting my options? I am only interested in a short term deposit at the moment but will be looking at the longer term options open to me for further investment. I would not consider investing with one of the Irish owned banks long term as I dont think they can offer a sufficient level of advice and ongoing service.....


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## ClubMan (20 May 2008)

You could be limiting the amount of interest you could earn on your lump sum and the range of other options available to you longer term. You should not be depending on any bank/tied agent for "advice". Well not independent professional advice in your own best interests. Non _Irish _banks provide at least as good services as _Irish _banks in my experience. Better in some cases.  As I said - limiting yourself to _"guaranteed Irish"_ banks makes absolutely no sense and sounds like a somewhat anachronistic stance to me personally. But good luck with it.


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