Financial Channel

I inherited about 25,000 (get back, ladies, I'm spoken for!) and am looking for a good place to keep it on ice for a year or two while we gather the cash for a deposit on a house. Any sensible suggestions - no 3D triangle-based investment scenarios - welcome.

depends on your attitude to risk. If you want to be sure of the money in 2 years then probably put in on deposit at the best rate you can get and forget about it for 2 years until you need it


if you are willing to take a chance, well that a whole different game !

For that length of time, when you already have a use for the money, the best option is the highest interest deposit account (or accounts, you don't have to keep it all in one place) you can find.

Anything else is gambling tbh. At the moment nobody (except maybe Warren Buffet 'cos he's special) knows what direction the worlds markets are going in the next few months.

Moved to Investments/Markets

Anyone got any suggestions for a deposit account and a reasonable rate to expect? I'm not in Ireland, although the cash is.

rabodirect.ie is a good starting place

Is it unreasonable to look for anything over 4% p.a. in a savings account? I'm far too clueless to go investing in shares and bonds and the like.

Is it unreasonable to look for anything over 4% p.a. in a savings account? I'm far too clueless to go investing in shares and bonds and the like.

not at all, you can get up to 7 in an anglo account. general rule of thumb is accounts where you are locked in for a period of time, gives better interest, i.e. 5 year account will pay better interest than 3 year. same applies in rabo accounts. dont forget that the interest is subject to DIRT tax.

not at all, you can get up to 7 in an anglo account. general rule of thumb is accounts where you are locked in for a period of time, gives better interest, i.e. 5 year account will pay better interest than 3 year. same applies in rabo accounts. dont forget that the interest is subject to DIRT tax.

you can only get rates of that kind on relativly small sums of money , certainly not enough to buy a decent new car anways and more often than not , you ony get it for about the 1st 12 months

I don't understand why the more you invest the lower the interest rate is?
Should I split it three or four ways and put it in several accounts?

I don't understand why the more you invest the lower the interest rate is?
Should I split it three or four ways and put it in several accounts?
Most of the rates offered are teaser rates where they're almost hoping you'd be stupid enough to put all your money into the account. Absolutely split up your money if you don't mind the admin overhead. Watch out for small print on the accounts (e.g. those idiotic accounts where you have to make x number of transactions using your laser card while balancing on your nose etc etc).