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Best account type to gain Interest

  • 10-10-2011 6:58pm
    #1
    PrettyBoy
    Registered Users, Registered Users 2 Posts: 4,213 ✭✭✭


    Hi all,

    Have a considerable lump sum I'm going to put in the bank this week and going to open a new account as I won't gain any interest from it if I put it in my current account.

    I'm with AIB, have a basic student account with them but want to open one where I will gain interest off the money I'm going to have in it (Not sure if I should state how much here?). Can anyone tell me what my best option is?

    Thanks


Comments

  • #2
    spix
    Registered Users, Registered Users 2 Posts: 2,577 ✭✭✭spix


    Im in a similar situation, trying to find which account type and which bank will give me the best interest. The ammount is important but you dont need to give exact numbers, alot of accounts have limits, some don't. Also something to consider is if you want access to the money or if you just want to forget about it for a while. Accounts where you cant withdraw give higher interest.


  • #3
    Sarn
    Registered Users, Registered Users 2 Posts: 3,109 ✭✭✭Sarn


    Check out Best Buy Savings. All of the best rates for fixed terms, regular savings or on demand accounts are summarised there.


  • #4
    PrettyBoy
    Registered Users, Registered Users 2 Posts: 4,213 ✭✭✭PrettyBoy


    Cheers lads, will have a look through the various rates in the different banks now, going to have a sit down with a manager in AIB this week and look at all my options..


  • #5
    Ogham
    Registered Users, Registered Users 2 Posts: 1,844 ✭✭✭Ogham


    PrettyBoy wrote: »
    Cheers lads, will have a look through the various rates in the different banks now, going to have a sit down with a manager in AIB this week and look at all my options..

    Well - he's only going to recommend AIB isn't he?

    If you are talking about more than 100 grand - spread it over a couple of banks. (Bank guarantee only covers 100k)


  • #6
    JTMan
    Registered Users, Registered Users 2 Posts: 5,557 ✭✭✭JTMan


    Ogham wrote: »
    Well - he's only going to recommend AIB isn't he?

    If you are talking about more than 100 grand - spread it over a couple of banks. (Bank guarantee only covers 100k)

    Bank guarantee covers an unlimited sum, not 100,000 EUR.

    I agree that you should not discuss with AIB only. AIB will only sell you AIB products.

    Do you want a term deposit? Can you lock the money away for a period of time?


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