lump sum deposit versus regular saver account

T

treasure

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I have €12000 to leave on deposit. Can anyone tell me whether I will gain more interest on a lump deposit of €12,000 in Anglo Irish @ 4.25% for one year or using a regular savings account that gives 7% on €1000 per month for one year (assuming these rates remain the same for the year.)?
 
Welcome to AAM, treasure. If you try the search function you'll find a few previous threads on both of those options. Or check the for details of all of 'em.

Personally I would open one of those regular savers accounts with the maximum €1000 (EBS's new offering is worth looking at), then lodge the balance with RaboDirect, where it'll earn 5% on sums up to €10K, then drip-feed €1000 every month into the regular savers account.
 
DrMoriarty,

That helps greatly, I am in the same situation as treasure.

Jaid
 
I want to save 850 per month, i don't know whether to go with EBS, anglo Irish bank or Halifax... anyone got some advice on which is best? I will probably have to withdraw a lot of it within about a year.
 
Look at the Financial Best Buys forum and pay attention to the terms & conditions such as when you can miss or vary payments and what sort of rate guarantee applies.
 
Heed Clubmans advice, 'pay attention to the terms & conditions.' For example, you mention 3 institutions above (1) Anglo Irish Bank closes the account on withdrawal and gives no guarantee on how long 7% will last (2) Halifax allows 2 withdrawals but limits amount saved to €750 per month and like Anglo no long term commitment to 7%. (3) EBS appears best of the trio, easy access to your cash and commit to ECB+3% until 1st April 2008. I think the EBS offer is exclusive to EBS members.
 
Thanks for advice. EBS Regular Saver is open to anyone over 18 who is resident in the state.
 
That's correct, my wife and I just opened two of them this morning.

Got a free keyring and nicked the teller's pen while I was at it. ;)
 
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