Lump sum deposit
Sunday November 18 2007
What would you do if you had an extra €38,000? Bertie could put his controversial pay rise on deposit. It'd make for a better return than leaving it in the safe at the office. And forgetting about it. Northern Rock's Demand Online offers the best rate -- but the bank is banjaxed, so you'd be better lashing it into Anglo.
Best: Anglo Irish Bank 30-day notice 4.5 per cent
Avoid: Bank of Ireland demand 0.9 per cent
Car insurance
Cough, cough. Splutter. The BMW 5 Series M5 can singlehandedly melt the polar ice caps. It has more carbon emissions than a small country. The M5 is more than three times more deadly than a Prius. But it does look way cooler. Cover for a 50-year-old Wicklow male driver, with no points and five years no claims.
Best: Quinn Direct €536.43
Avoid: €1049.00 Axa
Savings: €512.57 per year
Health cover
Billionaire Sean Quinn . . . consumer champion? Not any more. The goodwill associated with his take over of Bupa has evaporated faster than rain on the sun. The 18 per cent price hike for many customers in January is a bit rich. But it's still cheaper than VHI for a family looking for semi-private and day to day cover. Dermot Desmond's Vivas rocks.
Best: Vivas We plan €1229
Avoid: VHI Family plan €1816.28
Saving: €587.28 per year
Reader offer
LABrokers.ie , Ireland's first online insurance broker is giving a whopping 87 per cent discount off the first years premium on life assurance and mortgage protection for Sunday Independent readers. Just go to www.LABrokers.ie and on the home page click on 'Activate Discount Code'. The password to obtain this discount is 'Sunday' and this offer will run for three days until Wednesday, November 21.
Car loans
Now that they can't lend to each other, banks are falling over each other to shovel out personal loans. Car loans are becoming cheaper with AIB the latest to cut rates. Borrowing €25,000 over one year.
Best: AIB €2,167.26 per month
Avoid: One Direct €2,173.20
Saving: €71.28 per year
Mortgages
House prices to fall 8 per cent next year? That's what Goodbody Stockbrokers think. Hold your fire and don't buy yet. Let the sellers sweat a little more. Save a bit more by looking at an AIB tracker. It's €200 a month cheaper than a NIB 10-year fixed loan for a €300,000 mortgage over 30 years, based on Simply Mortgages quotes.
Variable
Best: Halifax €1,727.62 monthly
Avoid: Ulster Bank €1,814.92
Saving: €1,047.60 per year
Tracker
Best: AIB €1,638.00 monthly
Avoid: Irish Nationwide €1,812.91
Saving: €2,098.92 per year
10-year fixed
Best: First Active €1,705.11 per month
Avoid: National Irish Bank €1,837.05
Saving: €1,583.28 per year
Share dealing
Dear . . . oh dear . . . oh deary me. What is going to happen to poor old Jim Flavin? Take a ringside seat by splashing out on some DCC shares. Will the directors have the minerals to do anything? NIB and Davy do the best commissions on €25,000 worth of shares.
Best: Davy Online €125
Avoid: Bloxham €354.50
Saving: €229.50
Home insurance
Home insurance for a €400,000 semi-d in Slane, Co. Meath, with €200,000 rebuild, 20 per cent contents cover, no claims for five years and all the usual locks and alarms.
Best: Simply Mortgages €120.00
Avoid: AXA €274.00
Saving: €154.00 a year
Hot offers and super-duper new rates to nwebb@independent.ie
- Nick Webb
