Best return on monthly saving over 5+ years

tom1ie

Registered User
Messages
126
Hi all
I'm looking for some advice. I currently have 260k mortgage which I am overpaying by 12k a year. That puts my last payment approx 12 years away .
I have about 300 a month I want to save, but obviously bank current accounts are crap at the minute. So I'm wondering what is the most return I can make on saving 300 a month, but I won't need immediate access to the money for a long time, ie 5 years.
I have a separate emergency fund that I do keep in an emergency current account that I can access if I need it.
With regards to my pension, I am in a dB scheme working for a semi state company and I'm 36 so I'm not sure about throwing the money into a.v.c's as I've read you can over invest in pension schemes, although I could (and probably) have this wrong .
Any advice you have would be great .
Also my mortgage rate is 2.75 (a.i.b) and I've already switched twice .I intend to switch to u.b in January (when I have 6 months statements from AIB) to get a lower rate .
 
I have about 300 a month I want to save, but obviously bank current accounts are crap at the minute. So I'm wondering what is the most return I can make on saving 300 a month, but I won't need immediate access to the money for a long time, ie 5 years.

KBC pay 2.25% AER variable with the KBC Extra Regular Saver product. Deposits of 100 EUR to 1,000 EUR required per month. Also, KBC Extra Current Account must be opened but there is no fees provided you deposit at least 2,500 EUR per month into the account which can be a wire in and then a wire out.

Complex but that is the best deal out there for regular savings.

Obviously rates change and you would need to keep an eye on the regular saver rates.
 
Hi CiaranT,

With regards to opening the KBC Extra Current Account, you have to lodge at least €2,500, do KBC make you get your salary lodged to the account?
I do not want to go to the hassle of getting my salary paid to this account. Can I simply transfer €2,500 to the account and then transfer it back to my PTSB Current Account?
 
Hi CiaranT,

With regards to opening the KBC Extra Current Account, you have to lodge at least €2,500, do KBC make you get your salary lodged to the account?
I do not want to go to the hassle of getting my salary paid to this account. Can I simply transfer €2,500 to the account and then transfer it back to my PTSB Current Account?
Yes you can. I do this.
 
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