Best option for 10,000€

I know I'm a bit late to the party here but might be worth mentioning, the KBC Extra Regular Saver currently gives 1.75% AER Variable (before the dreaded DIRT of course) and allows a lump sum of €10k to be put in at the start. But you can only get the Extra Regular Saver if you can get the Extra Current Account (which requires €2k to be lodged every month, e.g. salary, but then gives pretty much fee-free daily banking) and you would need to commit to putting money into the Extra Regular Saver every month, although the minimum is only €100 per month.


And no, I don't work for KBC. But I do bank with them!

What are the chances of deposit interest rates increasing at all over the next 3-4 years?

Very low odds and in the short term the rates may well decrease. You could always chance your arm and buy Turkish Lira and deposit it there where you'll be paid aprox 24% pa at the moment.

masterboy123 said:

Hi,

I have never invested my money and looking for some advice here.

I have 10,000 euros which I would like to invest for a year. I am currently with AIB.

What's the best & safest option for me please?

Click to expand...

I'm even later to the party but it's impossible to give a useful answer without more details about your overall financial and personal circumstances. E.g. as some posters have mentioned if you have any debt then paying them down/off may be the best "return" by far. E.g. if you had €10K in credit card debt then you could "earn/save" 15-25% by clearing it depending on the card rate. Similarly if you have other loans it may make sense to pay them down/off.

Thanks for the advice.

I don't have any loan or mortgage at the moment.
But in the process of getting a new home in the next few months. But I have a fixed rate mortgage from PTSB, so it will have some extra fees involved if I deposit lump sump.

Just going to keep this extra savings now as it is now. Might require it once we move into the new home (although I have kept money separately for furniture, appliances, etc)

ClubMan said:

I'm even later to the party but it's impossible to give a useful answer without more details about your overall financial and personal circumstances. E.g. as some posters have mentioned if you have any debt then paying them down/off may be the best "return" by far. E.g. if you had €10K in credit card debt then you could "earn/save" 15-25% by clearing it depending on the card rate. Similarly if you have other loans it may make sense to pay them down/off.

Click to expand...