Allied Irish Bank guarantee

L

lynnegas

Guest
Hello, I am new to the forum.
I have money invested in a 5 year fixed rate at 6% with AIB which matures on May 2013.
It is accesible with loss of interest, but the rate of interest is very good
and the amount is within the guaranteee limit.

I don't need the money now but should I take it out to be safe? Or should the guarantee hold out ok? As a novice any opinions would be really welcome.
Lynne
 

I'd leave it where it is as the deposit guarantee scheme is under pinned by the EU.
 
With the IMF in town and calling all the shots, AIB will be gone over with a fine tooth comb. It is not worth propping up any longer.
It has performed so badly and has been poorly managed by past and present management, that it will now be merged or taken over by another more reputable institution from overseas. This will result in thousands being made redundant, but that is the only way it can survive in any shape or form.
As for your fixed rate bond, it is safe, whilst it remains under €100k, even with new owners.
 
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