Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

1 year Investment advice

  • 03-03-2015 8:54pm
    #1
    Registered Users, Registered Users 2 Posts: 1


    Hi,

    I currently have 110,000 euro split between accounts at Permanent TSB and the Credit Union. It's a deposit for a house but due to circumstances we won't be buying for at least 18 minutes. Anyone any advice on a low- risk investment for the next 12 months?


Comments

  • Registered Users, Registered Users 2 Posts: 45 Bizness


    lfc33 wrote: »
    Hi,

    I currently have 110,000 euro split between accounts at Permanent TSB and the Credit Union. It's a deposit for a house but due to circumstances we won't be buying for at least 18 minutes. Anyone any advice on a low- risk investment for the next 12 months?

    Low-risk = cash I guess and whatever bank, credit union or An Post savings offers the highest interest - might be a fixed term account e.g. 12/18 months. Max of the 100k in an account if the institution is regulated by the Irish Central Bank, and as long as the taxpayer stays solvent, then your shekels should be guaranteed to that amount in case of the firm going bust.

    If a deposit for a house, and you are a first time buyer, you should get a rebate for the Dirt paid on the interest income once you buy the house, up to a deposit value of 20% of the house.

    I quote
    "In Budget 2015 a relief from DIRT for first time buyers was announced.

    This applies to savings used by first time house buyers towards the deposit on a house. This is to apply to houses bought between 14th Oct 2014 and 31st December 2017.

    The refund of DIRT will be for up to 4 years prior to the purchase date – and will apply to the amount of DIRT charged on deposits up to the value of 20% of the purchase price.

    So – if a house costs 200,000 Euro – a first time buyer will be able to claim a refund of DIRT paid on the first €40,000 that they have had on deposit up to the date of purchase. The refund will be for up to 4 years of DIRT.
    IE – a simplified example : If they had €40,000 it in an account paying 3% interest – for the past 4 years if we say the average DIRT on that would have been 33% . That would mean DIRT of about €1600 over 4 years. Under this refund scheme – that €1600 would be refunded by Revenue."

    Link: moneyguideireland.com/dirt-refunds-for-first-time-buyers-budget-2015.html


  • Registered Users, Registered Users 2 Posts: 7,849 ✭✭✭Brussels Sprout


    lfc33 wrote: »
    Hi,

    I currently have 110,000 euro split between accounts at Permanent TSB and the Credit Union. It's a deposit for a house but due to circumstances we won't be buying for at least 18 minutes. Anyone any advice on a low- risk investment for the next 12 months?

    :D


  • Registered Users, Registered Users 2 Posts: 1,094 ✭✭✭househero


    You want free advice from a chat forum on what to do with €110,000

    Spend a grand on a psychologist


  • Banned (with Prison Access) Posts: 11 Hey Hey My My


    househero wrote: »
    You want free advice from a chat forum on what to do with €110,000

    Spend a grand on a psychologist

    Well thats not very nice to the OP :P

    OP congrats on saving such an amount; realistically the only thing you can do in that short amount of time is to lock it up in a 12/18 month account to gain the most interest. Spread it between banks too to minimize risk


  • Registered Users, Registered Users 2 Posts: 11,907 ✭✭✭✭Kristopherus


    PTSB Interest First is your best option. Pays 2.37% interest and you get your money within a month of depositing it.


  • Advertisement
  • Banned (with Prison Access) Posts: 11 Hey Hey My My


    PTSB Interest First is your best option. Pays 2.37% interest and you get your money within a month of depositing it.

    Then deposit the interest into another bank to earn more interest :)


  • Registered Users, Registered Users 2 Posts: 895 ✭✭✭Boardnashea


    PTSB Interest First is your best option. Pays 2.37% interest and you get your money within a month of depositing it.

    This rate is Gross for 18 months. Gives an AER (Annual Equivalent Rate)of 1.6%. This is in the better end of rates currently available but not the best.
    I usually look for rates on http://www.askaboutmoney.com/threads/term-deposits-fixed-lump-sum-savings.101813/


Advertisement