80k to invest

F

FreeAtLast

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I'm guessing that the 'get professional advice' response will dominate but I thought I'd ask what you guys thought anyway....
With property looking a tad shaky, I'm wondering where to put the 80k deposit I have which may as well be stashed under the mattress for all its earning at the minute. Minimal risk is the one for me, risk may even be irrellevant since a 30 to 60 day notice period is what I'd be looking for.
I'm currently renting. The cost is below market rate so the 'put the money down against a house' argument is slightly diminised. I don't supose the return on property will be as good as a low interest savings account these days anyway?!?!?

Any ideas where I should put my money?

Edit - Just in case it makes any difference on the original question, I'll be adding about 2k per month to whatever savings I go for which I may just put into a regular saver and keep this seperate........
 
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FreeAtLast said:
I'm wondering where to put the 80k deposit I have which may as well be stashed under the mattress for all its earning at the minute.
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Have you checked the Financial Best Buys forum which lists the latest high rate deposit accounts on offer?
Minimal risk is the one for me, risk may even be irrellevant since a 30 to 60 day notice period is what I'd be looking for.
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RaboDirect pay 5% on up to €10K in a demand deposit online account. Northern Rock pay 4.5% on sums of €1K+ in an online/postal demand deposit account. INBS FlexiSaver 21 (think it's still open) pays 5% on sums of €40K-€75K subject to 21 days notice for access.

All rates gross CARs subject to 20% DIRT.
Edit - Just in case it makes any difference on the original question, I'll be adding about 2k per month to whatever savings I go for which I may just put into a regular saver and keep this seperate........
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Regular saver may be suitable but check the terms & conditions as some have restrictions on when and how much you can access without penalty.
 
I've just been having a look at the best buys.

From what I can see then, there's not many banks that let you put away much more than I got for my first communion every month.
I mean Halifax have massive splash all over their site and shop fronts about the 7% saver. The max initial deposit is 750, you can't deposit any more than 750 monthly and you can't open it with an initial deposit any larger than your commited monthly deposit. Whoo-hoo Halifax.:rolleyes: . I'll not put a deposit down on the villa in France just yet then...;)

Seems as though there's a rub with every savings product out there.... monthly deposit too small, initial deposit too small, interest attractive until balance goes over 10k. (Just remembered - Irish Banks - most expensive in Europe or something like that)

Looks as though I'll have to open a half dozen acounts and a handfull of direct debits.... or get the professional advice maybe!
 
FreeAtLast said:
From what I can see then, there's not many banks that let you put away much more than I got for my first communion every month.
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The regular saver amounts vary from c. €300 to €1K if I'm not mistaken. Fair play to you - I got the princely sum of IR£7 for my communion in the 70s. Maybe that's why I'm bitter about religion? :D
I mean Halifax have massive splash all over their site and shop fronts about the 7% saver. The max initial deposit is 750, you can't deposit any more than 750 monthly and you can't open it with an initial deposit any larger than your commited monthly deposit. Whoo-hoo Halifax.:rolleyes: . I'll not put a deposit down on the villa in France just yet then...;)
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OK - is this a thread for discussing your options or for having a (misplaced in my opinion) rant? The latter should go in Letting Off Steam. Bear in mind that 7% is ECB + 3% so these products are most likely loss leaders. You could also open several regular saver accounts with different institutions - e.g. one each with Anglo Irish Bank and EBS for €1K each at c. 7%. But be careful about the terms & conditions as some are more restrictive than others. And bear in mind that 12 x €1K p.m. @ 7% is not the same as €12K @ 7% since not all of the money is on deposit for a full year.
Seems as though there's a rub with every savings product out there.... monthly deposit too small, initial deposit too small, interest attractive until balance goes over 10k. (Just remembered - Irish Banks - most expensive in Europe or something like that)
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As I said - Letting Off Steam for rants...
Looks as though I'll have to open a half dozen acounts and a handfull of direct debits.... or get the professional advice maybe!
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No big deal opening multiple accounts. If you're married then with some institutions you can open three accounts - two individual accounts and one joint.
 
Sorry Clubman..... not ranting but poking fun at the banks shouting about great products with huge rates but limited to tiny sums. I'm sure they suit lots of people down to the ground though.

Cheers for the tips

FreeAtLast said:
(Just remembered - Irish Banks - most expensive in Europe or something like that)
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Does sound like a rant doesn't it. Ooops:eek:
 
I would invest with Rabo at 5 per cent. You can then move some of the money to funds or otherwise at a later date. There are a huge number of
funds available out there. It is quite difficult to establish which is the best one, as each company is promoting theirs. However Rabo have a risk profile
which helps to point you in the direction of a particular fund which suits you.
 
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