Where to save €80 a month?

LemonAid

Where is the best place to save around €80 a month,plan to not touch it for 18 years,some banks cap the balance at 5k and others have bad interest on regular savers etc.just wondering has anyone advice on best thing to do?

JTMan

- Most regular saver accounts have a 100 EUR per month minimum.
- Which bank caps the balance at 5,000 EUR?
- Regular Saver products and offers come and go. Don't stick with one product for 18 years.

LemonAid

EBS have it capped at 5k and cant remember who else.
Suppose could just do it til it hits 5k and put it in a longer fixed term or whatever offer is on the go at that time.Whats the best deal for about 100 a month at the moment?bonkers says rabo but that has a weak interest rate

Geuze

EBS offer 3% on regular savings, but you may need to save 100 pm.

Bubbaclaus

I wouldn't be overly concerned of interest rates on amounts of 80 a month. The fact you are saving regularly is what's important.

80 a month will get net interest of around a fiver year one.

RossieMan

Yeah you really don't need to worry about interest rates on such small amounts.

JTMan

LemonAid wrote: »

EBS have it capped at 5k and cant remember who else.
Suppose could just do it til it hits 5k and put it in a longer fixed term or whatever offer is on the go at that time.Whats the best deal for about 100 a month at the moment?bonkers says rabo but that has a weak interest rate

The EBS Family Saver regular saver product is not capped at 5,000 EUR. It is capped at 13,000 EUR for the promotional rate for year 1.

The best regular saver rates are with EBS and KBC.
- EBS pay 3.00% AER fixed with the EBS Family Saver regular saver product but it will mature in 1 year.
- KBC pay 3.00% AER variable with their KBC Extra Regular Saver prodct but you also need to open a KBC Extra Current account and deposit at least 2,500 EUR per month in the current account to avoid fees.

scarepanda

JTMan wrote:

The best regular saver rates are with EBS and KBC. - EBS pay 3.00% AER fixed with the EBS Family Saver regular saver product but it will mature in 1 year. - KBC pay 3.00% AER variable with their KBC Extra Regular Saver prodct but you also need to open a KBC Extra Current account and deposit at least 2,500 EUR per month in the current account to avoid fees.

Sorry for piggybacking on this thread. We're in a similar position, looking to open a savings account with the aim of saving for our little one. We don't want to put it into her name, but it will be ear marked for her future iykwim.
How does the KBC extra current account compare to other current accounts? We are thinking of opening a joint current account for ourselves as well.

JTMan

The KBC Extra Current account offers free fees if you deposit at least 2,500 EUR per month. All normal current account features, good app, Android Pay support and competitive savings rates with the linked savings accounts. No cash banking is one down side.

Henry Ford III

I'd be looking at something with a higher potential return over that sort of term.