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High Interest savings accounts

  • 16-07-2008 9:59pm
    #1
    Greenmachine
    Registered Users, Registered Users 2 Posts: 5,063 ✭✭✭


    Anyone know if it is possible to put a lump sum into a high interest account, that can feed into a regular investment account. I am talking about 15k here.
    Seem silly to set up a regular saving when I have the lump but could earn more with a regular saving. Can I use one to feed the other.


Comments

  • #2
    norre
    Closed Accounts Posts: 11 ✭norre


    The answer is yes and no. If by feeding you mean a direct debit from the lump sum saving to the regular saving then no as deposit a/cs can not take direct debits. However if you are willing to manually shunt the money around, easily done with internet banking, then yes this would be a very good plan and quite doable.


  • #3
    zod
    Closed Accounts Posts: 2,025 ✭✭✭zod


    http://www.askaboutmoney.com/showthread.php?t=20747


  • #4
    JosephSBK
    Closed Accounts Posts: 3 ✭JosephSBK


    ShoreBank, the bank that I represent, offers a High Yield Online Savings Account with a competitive interest rate of 3.50%. You can link up to 6 accounts to your ShoreBank savings account to electronically transfer funds between accounts. If I can answer any questions about ShoreBank's High Yield Online Savings Account please do not hesitate to ask. Find out more information about this account by clicking here.


  • #5
    Colonel Sanders
    Closed Accounts Posts: 7,669 ✭✭✭Colonel Sanders


    JosephSBK wrote: »
    ShoreBank, the bank that I represent, offers a High Yield Online Savings Account with a competitive interest rate of 3.50%. You can link up to 6 accounts to your ShoreBank savings account to electronically transfer funds between accounts. If I can answer any questions about ShoreBank's High Yield Online Savings Account please do not hesitate to ask. Find out more information about this account by clicking here.

    No offence but that rate is highly uncompetitive in the current market


  • #6
    Orobhsa
    Registered Users, Registered Users 2 Posts: 297 ✭✭Orobhsa


    JosephSBK wrote: »
    ShoreBank, the bank that I represent, offers a High Yield Online Savings Account with a competitive interest rate of 3.50%. You can link up to 6 accounts to your ShoreBank savings account to electronically transfer funds between accounts. If I can answer any questions about ShoreBank's High Yield Online Savings Account please do not hesitate to ask. Find out more information about this account by clicking here.

    Are you authorised to operate in Ireland?


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  • #7
    JosephSBK
    Closed Accounts Posts: 3 ✭JosephSBK


    Colonel Sanders wrote: »
    No offence but that rate is highly uncompetitive in the current market

    With INGDirect's APY at 3.00% and HSBC's at 3.50%, we feel our interest rate is very competitive, but feel free to comment on this if you feel differently.


  • #8
    Blackjack
    Registered Users, Registered Users 2 Posts: 3,628 ✭✭✭Blackjack


    JosephSBK wrote: »
    With INGDirect's APY at 3.00% and HSBC's at 3.50%, we feel our interest rate is very competitive, but feel free to comment on this if you feel differently.

    Do you realise your audience on this website is primarily based in Ireland?.

    Most banks here are offering 4.5% as a minimum.


  • #9
    JosephSBK
    Closed Accounts Posts: 3 ✭JosephSBK


    Blackjack wrote: »
    Do you realise your audience on this website is primarily based in Ireland?.

    Most banks here are offering 4.5% as a minimum.

    I appreciate you providing the information about your location. I was trying to provide information about the bank that I represent, but this information may not be pertinent to residents of Ireland. Thank you.


  • #10
    Wise Investor
    Closed Accounts Posts: 3 ✭Wise Investor


    It really depends on how long u want to "park" the 15 K Fist Active offering 5+% for 5K ..National Irish are offering 4.45 % for 5k to 20 k. Rabo is nother AAA rated bank worth considering for peace of mind at the present. Alternatively join an invest club and learn to manage yr own invetsments typical target for club would be between 10 and 30 per cent per annum. hope this helps


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