Savings accounts

TheBardWest

I'm with BoI and looking into a savings account. I don't have a lot to put aside monthly - perhaps 100-200 quid. But I'd like to make a bit of interest on it if I can, yet still have access to it should we need it in an emergency.

BoI only has one account that might work - the Demand and Reserve Deposit Account - but the interest is laughable.

Any recommendations? I was looking at ING Direct, but I'm uncertain if you can set up an account since they're a UK bank...

This might be helpful OP

http://www.moneyguideireland.com/best-savings-rates/regular-savings

I'm with ulsterbank, I quite like them

JTMan

There is a more comprehensive guide here:
http://www.askaboutmoney.com/showthread.php?t=20747

bills

Check out itsyourmoney.ie

Shop around for most competitive rate

shuffles03

I'm in the same boat as the op. I used to be a Halifax customer and recently moved to BOI. I'm not a fan of their savings accounts. I get paid weekly and most of their savings accounts are monthly direct debits apart from the 'EasySaver' but the max you can save is 125 a week direct debit. I was talking to a girl on the phone and explained that some weeks I might want to save more than 125 but she said 125 is the max for that account and that if I wanted to save more I could open a 'Demand and Reserve' account as well. As the op pointed out, the interest in that account is laughable. I don't want to open 2 savings accounts and I don't want to be limited by how much I can save. Thats what I liked about my Halifax savings account but alas.

Currently I'm living at home but I want to really knuckle down and start saving for a deposit. Where should I save? Is it important when saving for a deposit for a house that the bank sees a direct debit of savings into a savings account on a regular basis or is having a savings account where I put in whatever I want whenever I want the same?

I'm starting to steer away from BOI for my savings and a few days ago I found my old Post Office book (hasn't been used in years). Is An Post any good? If I were to save for a deposit with them will the banks still accept my savings when the time comes or do I need to be saving with BOI etc?

JTMan

Go for Nationwide UK @ 3.3% AER on demand. You can save as much or as little as you wish each week.

Toots

The Dualsaver account with BOI would probably be a better option for you, the rate is better than the Easysaver, and you can lodge up to an additional €30k per year whenever you like, so if you have a bit of extra money at the end of the month then you can lodge it in.

TheBardWest

Fungus wrote: »

Go for Nationwide UK @ 3.3% AER on demand. You can save as much or as little as you wish each week.

Minimum starting balance of 2000 Euro makes this a non-starter for me.

-K2-

TheBardWest wrote: »

Minimum starting balance of 2000 Euro makes this a non-starter for me.

Open a Dualsaver (or similar) which will keep you on track for regular savings at whatever "normal" rate you want per month. When the balance gets to €2000 then move all of that into a Nationwide UK account (or whatever is paying higher interest at the time). Then you can either keep the Dualsaver regular payment and move over lump sums as you wish or cancel the Dualsaver and make the Nationwide UK your regular savings account.

Before you reach the 2k limit for Nationwide UK you could open a Rabo account (2%, instant access) and channel any excess cash above your BOI Dualsaver regular payment into that one.