Looking to open a saver account- Which one?

BFassassin

Hi im looking to open a savers account as i missed out on the ssia but i still want to save. I have been looking into the nothern rock one and the rabo direct one as they are suggested by Eddie Hobbs on his website. Are these any good and what way do they work. Do i just set up an online account with them and transfer my money across from my current account?
I will be investing a lump sum and then probably keep up with a regular monthly saver.
Thanks

naitkris

RaboDirect and Northern Rock are savings banks and as such usually provide more competetive/flexible saving products compared to retail banks (like AIB, BoI etc), however they don't always provide the highest interest rate and you also have to transfer your funds to and from the account to another bank account elsewhere which for some people might be not desired.

if you want flexibility to withdraw and deposit as needed without penalty and get a good rate at the same time i'd personally go with either of them two, check out their websites first for the T&C's first however - RaboDirect Savings Account and Northern Rock Demand Online.

if you plan to save more long term and with regular amounts and do not plan to withdraw funds often then take a look at the many regular saver accounts from AIB, Halifax, BoI etc which offer good rates but limit the amount you can save monthly, etc, etc.

with many of the regular saver accounts from the retail banks you can't deposit a lump sum to begin with however it should be noted. perhaps a combination of an account with either RaboDirect or Northern Rock and a regular saver account at a retail bank should suit your needs if you don't mind having two seperate savings accounts at two different providers.

BFassassin

Thanks for the reply. Having 2 saving accounts might be a good idea and i will have to look into it further.

D'Peoples Voice

BFassassin wrote:

Thanks for the reply. Having 2 saving accounts might be a good idea and i will have to look into it further.

I was asking myself the same question,
Lomb reckons property is the way to go!
http://www.boards.ie/vbulletin/showthread.php?t=2054910822&page=2

Nephew

I have two saver accounts, one with Halifax and I opened one just recently with Rabo. I opened my Halifax account over a year ago. Maybe I am wrong but I heard somewhere that Halifax 7% interest on monthly saver accounts only applies to accounts opened before a certain date, like last November, it's a reduced amount for newer accounts.

One thing I don't like about Halifax (B.O.S) is since I opened the account I received nothing other than a letter with my account details, not even a bi-yearly account update, which would have been nice. I opened my account with a lump sum, but last February when my friend enquired about it they informed him you can only open accounts with a lump sum of e1000.

The interest with Rabo may not be as high (something like 4.5% on amounts up to e10,000 and 3.5% on anything over), but they don't restrict you to maximum monthly lodgements like Halifax's e750.

Clank

Has anyone got anything to say good or bad about permanenttsb's '21 Day Notice Regular Saver'?

(Thought id ask here instead of a new thread:) )