Back to School and Back to Saving

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Anglo Irish Bank outline the importance of savings accounts as one of the key ways parents can financially prepare for future education costs.

Savings providers, Anglo Irish Bank, have seen savings accounts as one of the effective ways parents build a rainy day fund for children's future education expenses.

Piggybanks have long been replaced by bank accounts in Ireland, fuelled by many attractive offers by the banks and building societies - all competing to win a share of this market and future customers.

One of the biggest motivations to save is to provide security that when an unexpected bill comes in, there are sufficient funds to be able to meet the cost.

With uncertainty about future allowances and grants being provided to parents in third level costs, starting a savings habit may well be a prudent practice to ease the burden in later years.

Five tips to regular saving:

  • Try to pay off credit cards first. There's no point in paying a credit card interest bill that's double (or more) what you earn in interest on your savings
  • Set up a regular savings account that allows you access to your funds without penalty
  • Review your savings plan every six months
  • Transfer over your savings on payday
  • Don't tell your children you have this account until they need to know!

Derek Keogh, Head of Personal Savings at Anglo Irish Bank says: "Opening a savings account is easy, and Regular Saver accounts are particularly useful when it comes to saving for your kid's needs. Anglo Irish Bank has been a consistently high payer in this sector."

"Anglo Irish Bank's Regular Annual Saver Account pays the best savings rate in Ireland (5% gross/aer variable, with a minimum rate guarantee of ECB +2% for the full term of the account) which allows you to stop and start saving as often as you like during the one year term and for a generous amount of up to €1,000 per month, it is large enough to save for next years university costs! You even have access to your funds on demand."

Gross Returns are subject to DIRT (currently 25%), where appropriate. Terms and Conditions apply. Telephone calls may be recorded. Anglo Irish Bank Corporation Limited is regulated by the Financial Regulator in Ireland.

Anglo Irish Bank provides business banking, personal savings, treasury and wealth management services. They offer competitive interest rates on a range of savings accounts including regular saver and fixed term savings accounts.

For further information contact:
Group Marketing & Communications
Anglo Irish Bank Corporation Limited
Stephens Court
18/21 St. Stephens Green
Dublin 2

+ 353 1 6162000


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