A safe place to put a redundancy payment

[giov1cat]

Hi

I'm looking for advice regarding my redundancy of €110,000. I can only invest it for 3 months at a time as I'm one of the lucky ones trying to sell a house and when/if this happens will need this money to buy another.

I was considering Irish Nationwide or PTSB's accounts but after reading how internationally there is concern over Ireland's solvency I am concerned about the security of the Irish government guarantee.

Any suggestions?

Thanks

 

[Lightning]

It would seem that a 3 month term deposit or a instant access account would suit your needs.

The best rate for a 100 day/3 month term deposit is PTSB at 4.00%. See http://www.permanenttsb.ie/saving-and-investing/

See http://www.askaboutmoney.com/showthread.php?t=102329 for options for instant access accounts. Anglo offer 4.25% on balances up to 100,000 EUR

Deposits with PTSB and Anglo are 100% state guaranteed. They are very safe.

 

[giov1cat]

Hi Fungus

Thanks for that, I was panicking slightly.

 

[redstar]

I put my redundancy money into a PTSB 100day account. When it 'matures' you will be offered the option to cash-in or rollover for another term - may or may not be 100days, whatever is available at the time.