What’s the best place for savings?

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I have just retired and have 30,000 euro to invest. I am looking for the best interest savings rate up to a period of between 1 to 5 years. I would be grateful if you could advise on best return on my lump sum.. I look forward to hearing from you.

Bernadette

Dear Bernadette,

I suppose the first question you have to answer is – where do you envisage investing? Do you want to put your money on deposit in a bank or do you want to make some kind of investment in a pension, shares, or some other financial vehicle.

For this, you should seek some professional advice.

But before that you should have a look at the type of rates you get on deposit.

The National Consumer Agency runs an excellent comparison site and here’s the link to the section on lump sum investments. You will see you can get more than three per cent interest rate if you agree to lock away your cash for a year or two.

Opting for an ordinary savings account generally won’t be very profitable, but there are some great deals out there as you can see from this section on the National Consumer Agency comparison site on regular savings.

I hope that’s of help.

Lisa, RTE Money

2 Responses to What’s the best place for savings?

  1. Carmel Burke says:

    Keep it under your mattress!

  2. MLS says:

    don't let your money near any bank!!

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