Anlo Irish + Irish Nationwide 1 year fix deposit

M

menelike2

Guest
Hi,
I was thinking to split my sterling savings into two irish 1 year fixed terms: Anglo Irish and Irish Nationwide. They offer very high rate (about 6.9% each for 1 year).
However I am a bit worried about all the recent issues on liquidity and I am not sure it is safe to get exposure to these banks. Apparently the two banks are quite solid but the situation could change quite quickly...

What do you think?

Thanks!
 
menelike2 said:
They offer very high rate (about 6.9% each for 1 year).
Click to expand...
Are you sure about that? I'm not aware of any fixed rate product offering 6.9% CAR in year one.

On the question of security I think that this issue might be a bit overblown to be honest. Obviously there is always an element of risk even with deposits in a bank but personally it would not unduly concern me. If it did then I'd probably consider keeping under €20K with any individual institution so that the IFSRA deposit protection scheme would cover most or all of the deposits in the worst case scenario.
 
Thanks for you reply. Yes, actually it is 6.9% in GBP which is very good. The only problem is if the bank will default...
 

I think you are getting British interest rates confused with their Irish counterparts. Anglo Irish have a One year fixed term sterling a/c available with an interest rate of 5.24%

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Also I do think you money is far safer in a bank than under your matress at home.
 
Look at the offshore deposit:
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it is even 6.95% now.

Bank is far safer in a bank than under your matress...that's sure but the point is which bank I should use!
 
do we need an account there to make deposit ?

or can we make a deposit in this from irish bank account ?
 
The rate is 6.95% in Britain and to open a sterling a/c with anglo Irish in Ireland the rate is 5.24%
 
If you want to invest your money in the one year fixed term a/c with Anglo Irish in Britain you have to be resident in that country at the time of opening the account and I don't think off -shore sterling accounts are available from Anglo Irish in Ireland.
 
I have already an acount with them. So the issue is not how to invest but if it is safe to invest.

Thanks
 
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