Can anyone give me a rough and ready guide to which banks are offering the best rates for lump deposits at the moment?
From a quick look into the rates offered, Rabo and Halifax appear to be offering more attractive rates than the major Irish banks.
Halifax’s terms are more restrictive though. Withdraw only twice a year etc.
Above â‚¬10k: Northern-Rock, 4.5%
Below â‚¬10k: Rabodirect, 5%
No restrictions on either and good online access
Just saw this post about Rabo -
““In response to your enquiry I can confirm that yes you can if you have a joint account, and your own seperate account, enjoy 4.75% on â‚¬20,000 across the two accounts. Indeed if you have a joint account and then both of you have a seperate account then you could earn interest 4.75% on â‚¬30,000 across the three accounts (â‚¬10,000 in each).””
That seems like a very good option.
Whats the catch?
So if you spread your cash around various accounts using your own name, your wifes name, kids names etc. you can get a nice return of about ~5% or you can risk it on property.
well, I asked my account manager about their high interest offerings and was told that I’d enough for the deposit on a BTL, and sure I’d be mad not to get into property.
When I mentioned that I thought now was a bad time to get into property and that investors were selling up, the response was “Now’s a great time to buy! sure, there’s loads of choice on the market”