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Can you get an account with higher than 3% interest ?

  • 22-11-2005 3:57pm
    #1
    Kristok
    Closed Accounts Posts: 2,464 ✭✭✭


    I dont want to make any investments or anything just move my moeny into a long term account to earn some interest till I need it in a few years and ad some money to it every now and then. Any suggestions ?


Comments

  • #2
    ButtermilkJack
    Registered Users, Registered Users 2 Posts: 632 ✭✭✭ButtermilkJack


    Most institutions now do something similar to the SSIA. Deposit money, add to it if you want, and after minimum term (usually 3/5/7 years) you withdraw and get slightly higher rates than 3%.

    I think EBS have something called SureCertificates. Kind of a risk free growth account thingy??

    I reckon you're not going to get anything much higher anyway.


  • #3
    ronbyrne2005
    Closed Accounts Posts: 3,494 ✭✭✭ronbyrne2005


    inflation rates are 3% so the real return if bank is giving you 3% is a big fat 0%!!!! buy into a low risk mutual fund or start a low risk business or loan the money to someone who is looking for a business loan and has significant collateral or if you have significant taxable income buy an asset allowing capital allowances


  • #4
    ronbyrne2005
    Closed Accounts Posts: 3,494 ✭✭✭ronbyrne2005


    sorry thought you were looking for investment alternative to putting your money in bank,didnt read your post properly


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