fixed term savings with monthly interest income option

A

abloggs

Guest
Hi,

Great site, Im hoping somebody can give me some advice. I have about 50k to putaway for about 12months. It was the deposit for a house which I didnt go thru with ... (for all the right reasons i hope, recession, rising interest rates, energy costs etc) So now my plan is to rent and use the interest on the 50k to subsidise it.

I have been looking around for savings package that offers a montly return on interest, (or an attractive rate for a 3 month term.)

So far I have only come up with Irish Nationwide. For 50k+ they are offering 5.27% monthly payouts less the dirt. ~approx 176euro after dirt which I will put against my rent.

(Alternatively there is a 4month fixed term option with same bank at 5.2% but only pays out interest at end of 4months, but i prefer the frequent monthly payouts)

Are there any other options I should consider? Can the DIRT be offset against any renting tax allowances? Is the Irishnationwide option a good deal?



Thanks

Adrian
 
Dear Abloogs,

I am looking to find something like thsi too that offers a monthly income. What was the best one you found? Thanks
 
Look at the lists that I mentioned above - then narrow it down to those accounts which credit interest monthly. Then make sure that the terms & conditions meet your needs. Bingo!
 
I have an UB online account (instant access) 3.5% with 70k earning me approx €150 per month. Is this a good deal or could I do better.
 
I always think the best buys here (3rd post from the top) is easier to navigate than the tables of every account on itsyourmoney. (also have a read through numerous other posts here which may help you with more specific questions)
 
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