Best Saving Accounts at the moment

abnormalnorman

Hi,

Iv about 30k would like to leave sit for a while, but most banks dont seem to be giving any interest at the moment- is that right?!

Where would be the best place to put it , for maybe 2 -3 years or so? Is the Post Office State Savings scheme giving any good rates at the moment?

Henry Ford III

Ask About Money has a deposits comparison area.

Atlantic Dawn

Putting it in to Prize Bonds might be an idea, sometimes returns are good, there's a thread on it here...

https://www.boards.ie/discussion/2056292513/25k-invested-in-prize-bonds/p1

abnormalnorman

https://www.boards.ie/discussion/comment/117974045#Comment_117974045

they deleted my post there for some reason! told me to read the guidelines!

billyhead

An Post saving Certs or bonds would be my advice. If you can save for longer i.e 10 years there's the National Solidarity Bond. Although returns are low it's risk free.

coylemj

https://www.boards.ie/discussion/comment/117980705#Comment_117980705

Locking your money up for 10 years at a paltry fixed rate of less than 1% p.a. would not be a good idea, just as inflation is starting to rear it's ugly head.

On the risk element, the OP is looking to invest 30K which is well below the level of the deposit guarantee scheme which covers 'Up to €100,000 per person per institution'

billyhead

https://www.boards.ie/discussion/comment/117984388#Comment_117984388

True but if you have no intention of spending it wouldn't you be better off gaining some interest?

Charles Babbage

https://www.boards.ie/discussion/comment/117979580#Comment_117979580

They have a listing of accounts there, first thing to do is to read that and then ask a question that does not answer.

dotsman

https://www.boards.ie/discussion/comment/117985052#Comment_117985052

Op only wants to put money away for 2-3 years, so 10 year bond is unsuitable. Besides, if putting money away for that long, one should be investing it in equities, looking for circa 10% average annual returns. Deposit/bonds are for the cash element of life savings and short term savings. They are terrible for long-term (not just poor returns, but actually loss-making due to inflation).