18 month fixed Deposit GBP account 4.5%

H

HMCE

Registered User
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I just opened an 18 month Fixed Term Deposit Account over the internet with

Group Deposits,
Bank of Scotland Ireland,
Bank of Scotland House,
124 - 127 St. Stephen's Green,

I transferred this morning before the BOSI news of Halifax branches being closed. To my Knowledge I opened the Deposit account with BOSI and had no dealings with Halifax. Can anybody tell me is my Deposit account at risk in any way. I transferred 80K GBP from Anglo Irish to BOSI account this morning as the rate was so good with BOSI i.e. 4.5%.... Now I am really scared as this is the only money I've got in the world...?
 
Can't see how it would be at risk.

Best thing to do would be to ring them to ask what the process will be once they close.
 
As far as I can make out from the BOSI website, where I saw the product, I can still apply for the same product, but if I click on the Halifax side of BOSI I have no options to open a savings account any more. So I think that means Im with BOSI and I can continue to do business with them, although I am weary of them now, does this have any implications for BOSI also?
 
THats 4.5% over 18 months!,which you won`t be able to access for 18 months,minus dirt.
 
Yes that's correct, I can't lodge, or withdraw for 18 months, but I think that BOSI is still strong, I am sad for the loss of jobs, but in order to grow stronger pruning is necessary and focus on the the Corporate loan side rather than small public loans is obviously the only route to take. I still believe in BOSI and I hope I can manage to get the Product, at 4.5%. There will be no DIRT as I'm a non resident....
 
OP, Is that an Annual Rate of 4.5% based over 18 months or an annual rate of 3% ?? No matter whichever it is a good rate as for a significantly higher amount I still can't get a decent rate from Ulster.
 
No it's 4.5% total for the 18 months AER of 2.97% product comes in both Euro and GBP. It's the best there is for both Euro or GBP in Ireland. I've been hunting for quite some time
 
HMCE said:
No it's 4.5% total for the 18 months AER of 2.97% product comes in both Euro and GBP. It's the best there is for both Euro or GBP in Ireland. I've been hunting for quite some time
Click to expand...

No its not the best. Up to recently the Ulster Bank had a Pathway account for amounts up to £1 million at 3.35% per year, and not fixed for any period of time, but guess what, As soon as I asked about it they changed. They refused to give the offer to persons living in the Republic, which sickens me. Their attitude sucks.
 
Thank you for that mercman, but if that is the case with Ulster Bk then does it not mean that BOSI is the best out there, despite recent news....
 
If this is all your money,it is not a good idea to lock it in for 18 months,as you say yourself you will be stuck if you need it. Maybe you should get on to the bank and explain your situation, they might release the money to you seeing that you only just opened it. There are a lot of accounts that allow you to make a certain amount of withdrawals and have good rates.
 
Just to advise that the Ulster Bank in Southern Ireland will now offer 3.1% per year fixed on sterling deposits.
 
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