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Best account for earning interest

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  • 06-10-2010 5:27pm
    #1
    Jayob10
    Registered Users Posts: 3,787 ✭✭✭


    Hey guys

    Had a nice windfall to the tune of 35k and would like to find a savings account that will earn some money on it for me.

    I have heard it is not too difficult to set up swiss bank accounts, would these pay greater interest than your standard savings accounts here?

    I know Irish banks only have their guarantee until the end of this year.

    any info would be really great.


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    #2
    ardmacha
    Registered Users Posts: 7,476 ✭✭✭ardmacha


    Swiss bank accounts will pay less interest typically. Safe perhaps, but you'll earn more by leaving your money on deposit in Ireland and the tax treatment will be simpler.


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    #3
    eagle_i
    Closed Accounts Posts: 89 ✭✭eagle_i


    Jayob10 wrote: »
    Hey guys

    I know Irish banks only have their guarantee until the end of this year.

    any info would be really great.

    The blanket guarantee was extended to the end of the year, however, prior to the introduction of the blanket guarantee, there already was a guarantee on deposits up to €100k per institution. At the end of the year assuming the government does not extend the blanket guarantee further, the guarantee system will return to the €100k system. This compares favourably to say the UK were their guarantee is only stg£50k. So with €35k I think you fall well within the €100k limit!

    BTW, the Irish Times usually give a listing of the deposit rates on offer.


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    #4
    Kennie1
    Registered Users Posts: 302 ✭✭Kennie1


    EBS 3.5% APR on a 9 month deposit. Anglo 3.5% on a 12 month deposit. PTSB 3.35% on a 12 month deposit, interest paid at the beginning of term though! Just to note your money is as safe with Anglo as it is with any bank as it is covered under the guarantee scheme.


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    #5
    JTMan
    Registered Users Posts: 5,537 ✭✭✭JTMan


    3 detailed guides here:
    http://www.askaboutmoney.com/showthread.php?t=90481


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    #6
    Jayob10
    Registered Users Posts: 3,787 ✭✭✭Jayob10


    does anyone know if Rabo will be offering any attractive savings interest rates in the near future??


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