What to do with a lump sum

Getting a large lump sum of money, whether from an inheritance, bonus, redundancy, or a prize can feel exciting and life changing. It also means that there are important choices to be made. Taking a little time to plan how to invest a lump sum or what to do with it can help you protect your money and use it in a way that can help support your future goals.

Take time before making any major decisions

When you receive a lump sum of money, it’s easy to feel pressure to act fast. But stopping for a moment is one of the best things you can do. A short pause helps you avoid quick decisions and gives you time to think about what you want your money to do. For example, improving your financial security, preparing for future costs, or helping family.

Know your priorities

Before you decide what to do with your lump sum, think about your short, medium, and long-term goals. Some people want an emergency fund; others plan to work on their home or retirement savings. Knowing your priorities makes it easier to choose the right option and avoid spreading your money too thin. If you can’t decide whether or not to take a long-term approach, take a look at some of the benefits of saving money long-term.

Explore low risk ways to invest your lump sum or protect it

For many Irish people, protecting the value of a lump sum of money is the most important thing. Choosing a low risk way to save can help you keep your money safe while earning a steady return. Investing your money into a fixed term deposit account is a popular choice because they are stable, guarantee interest, and allow you to know exactly how much you will earn over the term. This can be especially useful for those who want to avoid the up and down nature of market based investments. If you’re looking for more information, please see our blog on what is a deposit account? with information on the different types of accounts available.

Why fixed-term deposits are popular

Fixed term deposit accounts allow you to invest your lump sum of money for a set period at a fixed interest rate of return. Your money earns a fixed interest rate for a set time, no matter what happens in the market. It’s a simple way to keep your money safe and help it grow. It also supports good saving habits, as the money stays in place until the term ends.

Balance access and security

While fixed-term deposit accounts offer a stable return, it’s smart to keep some money easy to access for daily needs or emergencies. Many people use a mix: some in an easy access account and the rest in a fixed-term product for better returns. Bankinter Deposit Plus has many benefits, including the ability to access 25% of your funds after the initial 8 weeks. So, you can save your money for a set period but also have the flexibility to access 25% of the funds if there is an emergency. See all the Bankinter Deposit Plus benefits.

Need help?

We’re here for you. Explore our FAQs or talk to one of our team to see how a fixed-term deposit account can help your money grow with confidence.

Bankinter rates:

You can find all our latest rates on our website on the Fixed-Term Deposit Account page, and choose the best rate to suit your savings goals.

• Interest is subject to Deposit Interest Retention Tax (DIRT), where applicable, at the prevailing rate on the day interest is paid. For more detailed information on DIRT, visit the Revenue site.
• Customer deposits up to a maximum value of €100,000 per person per institution are protected by the Deposit Guarantee Scheme. Learn more about the Deposit Guarantee Scheme (DGS).