should i go for a lump sum investmt and a savings a/c, or just go for one?



Hi there - Wondering if anyone can point me in the right direction on this,

I'm looking to invest a small lump sum (c.5-7k) and also set up a high interest savings account as well. Basically I am anxious to make my cash actually do something for me!

Re the latter - Irish Nationwide, First Active, AIB & Halifax all seem to have products ranging from 7.35% down to 7% but these are juicy introductory offers for just 1 year as far as i can see. would people here go for these or the lower %aged accounts that might stay at reasonable(?) rates for longer?

And re the former, where might people put 5-7k if they wanted a low risk investment for say 2-3 years. can you just lump that into savings accounts? (And therefore should i just look at one option??)

im in my 20s, not exactly very savvy with banking so any advice of places to look, or what to look out for is helped. i intend to keep on researching the diff options out there and get down to the pros and cons of each institutions offerings but in the meantime if anybody has any pointers that'd be great.



eileen alana

Frequent Poster
First Active currently paying the highest rate of interest, 5.22% on their esaver account, I think you can only apply for it online.
It's anyone's guess as to how long the regular saver rates from the various banks will last but why not avail of their competitive interest rates while they are on offer.


Cheers Eileen Alana - I think i'll take that route for the savings and invest the lump sum elsewhere.


alot of the regular savings accounts guarantee their rates for a period of time so take this into account, they may drop down to ECB rate or just above after that date. It's pretty easy to open/close these accounts however.

Also there have been previous threads of feeding the regular savings accounts from the lump sum accounts to maxmimise the benefit. Plus consider having multiple regular savings accounts (at different banks if necessary).