Best savings account

Piste

Hi,

Since I was very little money has been put into the post office as savings certificates in a trust fund for me. Now that I can manage the trust fund on my own I'm looking for alternative savings accounts as 5 years is too long of a commitment for me (also if everything goes to play I should be earning goodish money by then). I was thinking savings bonds, but even 3 years might be a little long. I'd like advice on what would be the best way to save and the best rate of interest. I'd like to be able to access my money, but wouldn't want to leave it for much longer than 18 months, maybe two years. My (part-time) job at the moment is a 1 year contract, so if that isn't renewed there wont be much point saving for a few years as I'll need to tap into the savings account.

I'll probably need to access this money for moving out or buying a car/moped in the next couple of years, depending on how things pan out.

I like the idea of having a direct debit where the money just goes whoosh out of my account each month. I'd also like a decent interest rate. A lot of banks' savings account just say "competitive rate of interest" without saying what the actual rate is.

I already have a Halifax Flexisaver account, should I keep depositing money into this or is there a better way to save?

Oh and if someone could explain the differene between APR and EAR that'd be great!

I'd be grateful for any advice you may have

phelixoflaherty

http://www.askaboutmoney.com/forumdisplay.php?f=69

Ogham

The Halifax Flexisaver is the best instant access rate at the moment - 3.75% - but once you go over 10k the rate drops . If you have more than 10k - then you could put some in a fixed rate account for a year - Anglo Irish has the best rate for amounts under 20k (3.5%)

Money Guide Ireland

Piste

http://www.askaboutmoney.com/showthread.php?t=20747 that was a very helpful thread on askaboutmoney, thanks for linking to the site phelixoflherty.

I've had my flexisaver account (well it's not *technically* mine, it's in my dad's name, but I manage it) for over a year so the interest rate has dropped, so I'll just open one in my own name now.

phelixoflaherty

You're welcome

Elmo

Sorry if this question has been asked before.

What are the best savings account currently on the market?

Toots

Threads merged.

Crann na Beatha

This post has been deleted.

keary79

the credit union is a good one for savings or go to itsyourmoney.ie...

keary79

go to ityourmoney.ie its really helpful for all banking products

questionmark?

Ogham wrote: »

The Halifax Flexisaver is the best instant access rate at the moment - 3.75% - but once you go over 10k the rate drops . If you have more than 10k - then you could put some in a fixed rate account for a year - Anglo Irish has the best rate for amounts under 20k (3.5%)

Money Guide Ireland

Halifax? Anglo? :eek: Think this post needs an update

Ogham

questionmark? wrote: »

Halifax? Anglo? :eek: Think this post needs an update

Well the Halifax closure was just announced on Tuesday - so they are no longer an option.
Anglo Irish are still operating - and the money there should be as safe as anywhere else because of the bank guarantee.

See the best interest rates here