# 250K short investment -no risk?



## navanclaire (27 Sep 2009)

hi

from a house sale i have 250k to invest for a 3-6 maybe longer period.the house i was to buy fell thru...on lookout for another... going to rent for 3/6/9/12 months whilst looking , hence the short time period in case i find something i like. I see EBS have a 3 month ,fixed term account   investment..3.75%  gross..3.80  aer/pa , and they are covered by govt.gaurantee , is there any better safe rate than this?

Thks

Claire


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## ringledman (27 Sep 2009)

Don't leave it all with one institution. 

What's the Irish bank guarantee €100k? Anything could happen with the banks still.


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## navanclaire (27 Sep 2009)

thks a lot again , i didnt realise that there was a limit on it!! cheers

Claire


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## WaterSprite (27 Sep 2009)

navanclaire said:


> i didnt realise that there was a limit on it!!



There isn't, not for the covered institutions.  Whether you want to split out your funds is a separate question but the reference to there being a 100k limit in the relevant institutions is incorrect. See here.


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## navanclaire (27 Sep 2009)

oh grand thanks , definately do not want to split it ...Was hoping to put it all into the 3 month plan as outlined above , I underdtand the full 250k is fully gauranteed is  that correct?!


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## Guest116 (27 Sep 2009)

Yes, depending which bank you choose. Check the link in the previous post by WaterSprite.


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## Lightning (27 Sep 2009)

100% of your deposit with a government guaranteed Irish Bank is protected until September 2010. 

After September 2010, the first 100,000 EUR is protected. 

Check out the best buys fixed term deposit thread here .



> Best Buys - Highest Term Deposit Rates
> 
> 6 Months - Irish Nationwide - 3.78%
> 11 months - Irish Nationwide - 3.81%
> ...



As per the above, the best buy for a 6 month term deposit is *Irish Nationwide @ 3.78%.* 



navanclaire said:


> I see EBS have a 3 month ,fixed term account   investment..3.75%  gross..3.80  aer/pa ,



Nope, EBS pay 2.12 % AER for a 3 months term deposit. 

You are better off with Irish Nationwide.


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## navanclaire (28 Sep 2009)

nope!!! Irish nationwide have a three month fixed term account at a preferential rate of 3.75% gross (3.80%) available for a lump sum of 10k or more available until 31st oct!! quote -unquote!!


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## Lightning (28 Sep 2009)

Okay. Can you provide a link? 

The [broken link removed]



> *Terms	Tiers	Rate	            A.E.R*
> 3 Months	€20,000 to € 49,999 2.12%
> 3 Months    €50,000 to € 99,999 2.25%
> 3 Months    €100,000 plus	    2.40%


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## navanclaire (28 Sep 2009)

I cannot provide a link. However I am in the public service and it was advertised on the work magazine. I rang the Irish nationwide and enquired about it and thet confirmed it is indeed correct.! A phone call to them should provide anyine with the same confirmation!!Open to all!



Apoligies!! Irish NationWide , Not EBS as I said !


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## Lightning (28 Sep 2009)

No worries. 

Irish Nationwide offer 3.65% AER to the general public for a 3 months term deposit.

That is the first I have heard of Irish Nationwide offering a different rate, or be it slightly higher, to the public service. 

Irish Nationwide are going to some extent to attract deposits at the moment.


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## theresa1 (29 Sep 2009)

Fungus you say - After September 2010, the first 100,000 EUR is protected. Has this been confirmed. I heard the date of Sept 2010 for 100% guarantee was going to be extended?


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## skrooge (29 Sep 2009)

theresa1 said:


> Fungus you say - After September 2010, the first 100,000 EUR is protected. Has this been confirmed. I heard the date of Sept 2010 for 100% guarantee was going to be extended?


 
An explanation of the schemes here
http://www.askaboutmoney.com/showpost.php?p=935018&postcount=8

Looks like the department of finace is getting round to extending the scheme:

“The ELG Scheme is intended to facilitate the ability of credit institutions in Ireland to issue debt securities and take deposits with a maturity post-September 2010 on either a guaranteed or unguaranteed basis.”
 
http://www.finance.gov.ie/documents/speeches2009/sfbl034guarantee.pdf


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## Lightning (29 Sep 2009)

theresa1 said:


> Fungus you say - After September 2010, the first 100,000 EUR is protected. Has this been confirmed. I heard the date of Sept 2010 for 100% guarantee was going to be extended?



As things currently stand the first 100,000 EUR is protected beyond September 2010.

As per the previous post, it looks like the government are considering some extension, but nothing is yet finalised.


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