# 500k deposit. What is best interest rate around



## What the (20 Apr 2010)

Looking for somwhere to deposit 500k for 12 months max. Who gives the best rates. Its in BOI now and made 3.25% for last 12 months but they have said I will not get a rate as good as that for the next 12 months.


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## Boyd (20 Apr 2010)

Best Buys:


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## doubledeb (20 Apr 2010)

Those posts are from back in 2006, any chance of getting something more realistic for 2010?


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## mercman (20 Apr 2010)

Search the posts on AAM for 'fungus' who continually keeps the best deposit rates up to date.


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## Boyd (20 Apr 2010)

doubledeb said:


> Those posts are from back in 2006, any chance of getting something more realistic for 2010?



Best Buys thread is from 2006 but if you open any link you would see the savings ones are updated by "Fungus" very recently


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## Lightning (20 Apr 2010)

Thanks all. 

For a 500k deposit for 1 year see the best buy term deposits here. 



> *Best Buys - Highest Term Deposit Rates:*
> *3 Months* - Irish Nationwide - *3.55%*
> *1 Year* - Irish Nationwide and Anglo Irish Bank - *3.50%*


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## damson (20 Apr 2010)

For that size deposit you should try to negotiate something better than the quoted rates. I've done so successfully before, and the amount wasn't as large as 500k. I imagine BoI would be sorry to lose it, so while they're trying to manage your expectations, if you "found somewhere else" and called their bluff I'd say they'd shift a bit. You need to talk to someone with a bit of decision making power. But if you try to withdraw 500k all at once, a manager won't be long coming over to have a chat.


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## Lightning (20 Apr 2010)

Maybe, BOI currently offer nothing close to 3.50%. BOI may not match it, but as you say it is worth asking.


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## fizzelina (21 Apr 2010)

And shouldn't you be only putting 100k into each bank, since the guarantee scheme only covers that much? Fungus what's your views on that? Even if one bank give better rates should all the 500k go into one bank??


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## zztop (21 Apr 2010)

Isnt it only 100k in total thats guaranteed?better go
international or stay with BOI.


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## Lightning (21 Apr 2010)

The full 500K is state guaranteed if you open a term deposit with INBS before September 29th 2010.


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## 10amwalker (22 Apr 2010)

Fungus

Thanks for being such an expert and always so polite....


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## bacchus (23 Apr 2010)

fungus said:


> The full 500K is state guaranteed if you open a term deposit with INBS before September 29th 2010.



Based on this thread, i understand that the guarantee drops to €100k from 29/09/2010 onwards.

Can you please clarify?


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## duchalla (23 Apr 2010)

My understanding of it is if you open a term deposit before 29th Sept, your covered for the lenght of the term.  So if you opened a 1 year term deposit for €500,000 on 26th Sept 2010, you're covered til 26th Sep 2011 for the entire amount.  If you opened a 2 year term deposit on that date you're covered til 26th Sept 2012 for the full amount. Am I correct Fungus?


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## andycole (23 Apr 2010)

*Eligible Liabilities Guarantee Scheme*

Link - http://www.*****************.com/irish-deposits-guarantee-after-september-2010.html


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## Lightning (23 Apr 2010)

duchalla said:


> If you opened a 2 year term deposit on that date you're covered til 26th Sept 2012 for the full amount. Am I correct Fungus?



Correct


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## theresa1 (23 Oct 2010)

Thinking of putting €200,000 in Anglo 1 year fixed term reward account - just got form's etc. No mention of ELG scheme in any documentation. Should I just do €100,000?


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## Lightning (23 Oct 2010)

You are covered by the ELG. Why are you choosing Anglo over Ulster? Ulster will give you 3.5% for the same product.


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## theresa1 (24 Oct 2010)

I'm already with Anglo so it's easier to set up and I'm happy with my dealings with Anglo to date.


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## Lightning (25 Oct 2010)

Ok, your choice, fair enough.


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