I want to deposit 10,000 for one year

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lou2

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Hi, I have read the best buy thread but I'm not financially savvy so i'm not sure what the differrence between a term deposit and a fixed rate deposit? I want to deposit 10,000 of hard saved money to a one-year account. I don't envisage needing access to it during that year. Can anyone who knows about these things advise what would be the best bank/deal for me? Thanks.
 
To my understanding a term and fixed rate are the same....as a fixed term deposit can be six or twelve months for the duration of the term.

Regarding where to put your money Nationwide UK Ireland are offering 3.4% for one year fixed and KBC bank are offering 3.5% one year fixed.
 
lou2 said:
Hi, I have read the best buy thread but I'm not financially savvy so i'm not sure what the differrence between a term deposit and a fixed rate deposit? I want to deposit 10,000 of hard saved money to a one-year account. I don't envisage needing access to it during that year. Can anyone who knows about these things advise what would be the best bank/deal for me? Thanks.
Click to expand...

Term deposits are fixed.

If you are happy with deposits in an Irish bank then PTSB will pay you 3.63%. Otherwise, KBC or Ulster will pay you 3.50%.
 
Ciaran,
I am worried about putting my money in an Irish bank. Was thinking of KBC as an option but are they not covered by the same state guarantee as our own banks. I worried if things go pear shaped here KBC's deposits here may be affected

How could the Op and I invest our savings outside of ireland if we wanted to

Reg
 
regvw said:
Ciaran,
I am worried about putting my money in an Irish bank. Was thinking of KBC as an option but are they not covered by the same state guarantee as our own banks. I worried if things go pear shaped here KBC's deposits here may be affected

How could the Op and I invest our savings outside of ireland if we wanted to

Reg
Click to expand...

1) Ulster Bank NI. The account can be opened in an Ulster Bank branch in the ROI.
2) Other banks in NI. Most accept ROI proof of address.
3) Banks on the IOM such as Nationwide UK.
4) KeyTrade Belgium. See other threads on this topic.
5) Go abroad to Germany etc and open the account in person.
 
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