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Small lump sum saving options, with monthly withdrawals.

  • 25-01-2013 6:28pm
    #1
    Jesus Christ
    Closed Accounts Posts: 123 ✭✭


    Say I were a self-employed company director and about to come into two personal lump sum payments in the next couple months, around 6.5k on each occasion, or 4.5k after tax according to an accountant (sum is invoiced, not gained). The money would be used to top up wages by around 500/month, to keep pressure off the company for the year. Would there by any point in opening a savings account for the lump sums, would they actually earn anything of note?

    I don't think they could go into an Ulster Regular Saver account, because I think they're restricted to 4 withdrawals a year, and I'm not sure any of their other types of account will fit either. Rabo's rate seems low, but they do pay out monthly, would that make it worth my while?

    All hypothetically, of course!


Comments

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


    Yes, it is worth getting a good return for your hypothetical money.

    Sounds like you want instant access?

    If so, KBC are your best bet.


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