i was going to ask the same question mickeyg . I understand what the other posters are saying by having a large deposit with one bank leaves me open (if only slightly) if there ever was a bank collapse. So i'm probably better to divide the money between Ebs, Anglo and Irish Nationwide after that i'm i bit confused i thought i was doing ok earning €12000 interest Pa but it seems not.
that offered me 5.15% last week for the 4 months so that appears to be down a bit.( I was withdrawing from the ecb account which they have effectively reduced to a max of 4.05%) while cm is correct with inflation at 4.8% ( this is one months figure and is influenced by petrol prices etc) and you receive 4% net you are certainy not making money. Sceil eile . Last year I retired and received a gratuity. stuck it into a deposit fund to mull over options. while changing life insurance policies the broker enquired as to my 'intentions' with regard to this gratuity. Not alone did he want me to invest it in a policy of some sort he wanted me to borrow more (gearing or something) and went on to explain that I would 'only' have to pay the interest on the borrowed money, which in the meantime would earn much more in a policy invested in various stocks/funds/shares etc. He was gushing about the amount of money I could possibly make over the next few years and sure after clearing the borrowed money I should still clear a nice tidy sum. Now maybe he was just unlucky with the way things have panned out in the last year but its a bit like betting. If you can't afford to lose it then don't bet. I didn't invest with him. So while I am certainly not making anything at the current 5.1% at least my capital is relatively safe. I am also aware that the current rate of interest might not be around next year.