I'd be interested to hear if anybody has a different higher yield strategy.
Wondering if the comparative rates paid for deposits as shown in the excellent regular Best Buy feature between State Savings and commercial institutions includes the 4% PRSI?
I find the hassle of all those extra accounts aren't worth it with the current rates and tax regime. Compared to a Rabo 90-day notice account at 1.95%, a 2.5% regular saver only delivers an extra 0.3% after tax. Given that you can generally only save up to €1,000/month, the difference only amounts to €150/year after you've spent 4 years accumulating €50,000. The Nationwide UK might be worth having, but the rest are marginal.It is very easy to get a bigger yield than 1.93%.
The way to achieve the highest yield possible with deposit accounts is to maximise your regular saver deposits.
Only look at term deposit accounts, instant access account and notice accounts after you have maximised your regular saver contributions to regular saver accounts that pay more than term deposit accounts, instant access account and notice accounts.
Priority 1 is Nationwide UK which pays 4.00%.
Priority 2 is KBC regular saver which pays 3.5%.
Priority 3 in PTSB Online regular saver which pays 2.5%.
Priority 4 is PTSB 21 Day Notice Regular Saver which pays 2.5%.
Priority 5 is opening a second PTSB 21 Day Notice Regular Saver account.
Then priority 6 is deposit accounts that pay more than the remaining regular saver products. Start with Nationwide UK (Ireland) 3 year term deposit account which offers instant access subject to a 90 day interest penalty for a great 2.20%.
Prize bonds pay a dreadful 1.25% and the chances of winning a big prize are very very low.
I find the hassle of all those extra accounts aren't worth it with the current rates and tax regime. Compared to a Rabo 90-day notice account at 1.95%, a 2.5% regular saver only delivers an extra 0.3% after tax. Given that you can generally only save up to €1,000/month, the difference only amounts to €150/year after you've spent 4 years accumulating €50,000. The Nationwide UK might be worth having, but the rest are marginal.
It is very easy to get a bigger yield than 1.93%.
The way to achieve the highest yield possible with deposit accounts is to maximise your regular saver deposits.
Only look at term deposit accounts, instant access account and notice accounts after you have maximised your regular saver contributions to regular saver accounts that pay more than term deposit accounts, instant access account and notice accounts.
Priority 1 is Nationwide UK which pays 4.00%.
Priority 2 is KBC regular saver which pays 3.5%.
Priority 3 in PTSB Online regular saver which pays 2.5%.
Priority 4 is PTSB 21 Day Notice Regular Saver which pays 2.5%.
Priority 5 is opening a second PTSB 21 Day Notice Regular Saver account.
Then priority 6 is deposit accounts that pay more than the remaining regular saver products. Start with Nationwide UK (Ireland) 3 year term deposit account which offers instant access subject to a 90 day interest penalty for a great 2.20%.
Prize bonds pay a dreadful 1.25% and the chances of winning a big prize are very very low.
the Nationwide account is only for 15 months, adding 1k p/m. How does this compare to leaving 15k in a 15 month deposit account @ 1.95% fixed
€15K for 15 months at 1.95% works out at €365 interest gross.
If you have €15K sitting in an instant access account at 1.75%, and feed €1000 each month into your Nationwide UK account you should have €425 gross interest after 15 months.
€375 from the Regular Saver and another €70 from the instant access account.
How did you calculate the €425 return on the regular saver,
Priority 1 is Nationwide UK which pays 4.00%.
Priority 2 is KBC regular saver which pays 3.5%.
Priority 3 in PTSB Online regular saver which pays 2.5%.
Priority 4 is PTSB 21 Day Notice Regular Saver which pays 2.5%.
Priority 5 is opening a second PTSB 21 Day Notice Regular Saver account.
Then priority 6 is deposit accounts that pay more than the remaining regular saver products. Start with Nationwide UK (Ireland) 3 year term deposit account which offers instant access subject to a 90 day interest penalty for a great 2.20%.
Market inflation forecasts, for the next 10 years, in the EU, are for a rate below 2%.
i also looking at investing in some bonds with blackbee.ie
....I shot them off an email a couple of weeks ago but haven't heard anything from them in the interim.....
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