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AIB Online Savings, which is best

Comments

  • #2
    Rebel1977
    Registered Users, Registered Users 2 Posts: 802 ✭✭✭Rebel1977


    Drexl Spivey wrote: »
    For monthly savings which has best return:

    Online Savings
    or
    Online Notice

    ?

    To be honest it depends on your financial circumstances;
    online savings is for regular savings i.e. weekly/monthly and withdraw on demand and has rate of 2.25% while notice deposit 7 is for lum sum amounts and once it goes over €10k rate changes from 3% to 1.5% plus you have to give 7 days notice to withdraw


  • #3
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    go to Ulster, they have a 4% savings acccount with no penaltys for withdrawing instantly afaik


  • #4
    Rebel1977
    Registered Users, Registered Users 2 Posts: 802 ✭✭✭Rebel1977


    Can you open the Ulster one in Branch or online do you know ? AIB best rates for small saver all appear to be online, their branch rates are rubbish, I was quoted 1.75% for a 30 day notice, yet I can get 3% for same amount online for a 7 day notice!


  • #5
    JTMan
    Registered Users, Registered Users 2 Posts: 5,558 ✭✭✭JTMan


    Drexl Spivey wrote: »
    For monthly savings which has best return:

    Online Savings
    or
    Online Notice

    ?

    Neither.

    Read the best buy options here: http://www.askaboutmoney.com/showthread.php?t=90481

    There are lot's of sneaky T&C's in those AIB products.


  • #6
    Drexl Spivey
    Registered Users, Registered Users 2 Posts: 528 ✭✭✭Drexl Spivey


    Fungus wrote: »
    Neither.

    Read the best buy options here: http://www.askaboutmoney.com/showthread.php?t=90481

    There are lot's of sneaky T&C's in those AIB products.


    Can someone tell me if i am correct:

    If I have 20k on an AIB Online Deposit then my net interests after a year are 438 euros:

    Gross interest 20000*1.5% = 300
    DiRT = 300*27% = 81
    Net = 300 - 81 = 219

    Since interests are payed twice a year I would end up with 219*2 = 438 in a year.

    Is that right?




    1.5% seems very low but it is payed twice a year and there is 7 days notice whereas a plan like interest first from tsb, interests are payed once a year and the money is deposited for the 12 months.


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  • #7
    snubbleste
    Banned (with Prison Access) Posts: 31,117 ✭✭✭✭snubbleste


    That account is 3% for the first 10k, 1.5% for the rest up to 100k.

    Therefore 20k for 1 year would be:
    10k @ 3.0% = 300
    10k @ 1.5% = 150
    450*dirt = 328.50 for the year.


  • #8
    Drexl Spivey
    Registered Users, Registered Users 2 Posts: 528 ✭✭✭Drexl Spivey


    snubbleste wrote: »
    That account is 3% for the first 10k, 1.5% for the rest up to 100k.

    Therefore 20k for 1 year would be:
    10k @ 3.0% = 300
    10k @ 1.5% = 150
    450*dirt = 328.50 for the year.

    - They say the interests are paid twice a year, does that mean 164 each time?

    - I see that Permanent TSB will make you a return of 489 in one year (Interest First Savings Account) and pay the interests up front...


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