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.
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.
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.
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).
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.....
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.