Re: Lump Sum Savings

[2010tom2010]

Hey everyone, just seeking some general feedback on my proposed savings idea.

Overview:
Age: 21
Full Time Employment
Goals: Will not need to have access to money for over 3+ years if not more. Just want to get a little more thanv the 1% that Im getting in my current savings account with present bank.
Amount: €20,000
Risk: Averse - want stable guaranteed return.

I was thinking of putting my money in PTSB (Booster Bonus Deposit Account) 2.5% (Assuming you make no more than 2 withdrawals).

Any advice would be appreciated. And of course if you might have some other suggestions to help me maximise return I would appreciate it. Cheers.

 

[Lightning]

If you will definitely not need access to the money for 3 years then it might be worth considering KBC @ 2.30% AER fixed for 3 years.

Another option. If you are willing to deal with the effort involved, then you could set up an lump sum account like the 2.30% KBC Smart Saver or the 2.25% PTSB Online Demand account and drip feed money from there into regular saver accounts like the 4.00% Nationwide UK regular saver account.