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Best account for lump sum and savings

  • 15-05-2012 10:41am
    #1
    Jammie01
    Registered Users, Registered Users 2 Posts: 55 ✭✭


    Myself and my partner have saved 12,000 euro between us and won't be touching it until at least a years time. We want to open a joint account and put this money somewhere to earn interest because at the moment it's just in a credit union account.

    We also both want to set up a direct debit to add to this account by 1700 monthly.

    What would be the best account to do this?

    I have looked up rabodirect and they seem to be a good option but are there any catches with these?

    Or would we be better off opening two separate accounts, one for regular savings and another fixed term deposit to lock away the 12grand at a better rate?

    Thanks in advance!


Comments

  • #2
    Liam D Ferguson
    Registered Users, Registered Users 2 Posts: 542 ✭✭✭Liam D Ferguson


    Yes you're better off opening a separate account for the lump sum and the regular savings. Have a look at the Best Buys on Askaboutmoney.com here.


  • #3
    JTMan
    Registered Users, Registered Users 2 Posts: 5,566 ✭✭✭JTMan


    Jammie01 wrote: »
    Myself and my partner have saved 12,000 euro between us and won't be touching it until at least a years time. We want to open a joint account and put this money somewhere to earn interest because at the moment it's just in a credit union account.

    We also both want to set up a direct debit to add to this account by 1700 monthly.

    What would be the best account to do this?

    I have looked up rabodirect and they seem to be a good option but are there any catches with these?

    Or would we be better off opening two separate accounts, one for regular savings and another fixed term deposit to lock away the 12grand at a better rate?

    Thanks in advance!

    3 separate accounts.

    12,000 EUR @ 4.10% @ KBC: Smart Saver.
    850 EUR per month @ 4.00% @ PTSB Online Regular in your name.
    850 EUR per month @ 4.00% @ PTSB Online Regular in her name.


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