Deposit Account or Regular Savings

[Kingdomkerry]

Just looking for a bit of advice. I have €7K in my AIB 7 deposit account. I have opened 2 accounts (or am in the process of opening) in First Active. The Regular Saver Account (7.15%) and the eSavings Account (5.22%). Would i be better off putting the 7k in to the eSavings and €250 a month out of my salary in to the Regular Savings of would I be better off leaving the €7k in to my AIB Current account and paying €1,000 a month in to the regular savings account until the €7k is gone in to it?

 

[ClubMan]

Re: Deposit Account of Regular Savings

Well obviously the lump sum in the highest rate lump sum demand deposit account on offer drip fed to the maximum monthly amount into the highest rate regular saver account on offer (which has terms & conditions matching your specific needs) will yield the highest overall interest returns. If you can't drip feed directly from the high rate lump sum deposit account then you'll probably have to go via a regular current account.

See the Financial Best Buys forum for details of the best deposit accounts/rates on offer.