Short term security for 250k deposit

M

mog

Guest
Hi,
I'm hoping to sell house for approx €250k and will be spending all of it in building a new house over the next year - were renting at the moment.
I'm concerned with having this amount on deposit over this period given the current banking/currency crisis.
Should I be concerned.
What is the most secure place on deposit (demand), and can i split it between my wife and I to maximise govt. guarantee. I would lean more towards security vs rate of return.
 
The government guarantee protects your deposit regardless of the amount, people have previously questioned the ability of the government to support this guarantee. Hence, if the guarantee was your only criteria, then there is no need to split your deposit.

The most secure option is often seen as keeping your deposits abroad. The next most secure option is often seen as banks based in Ireland with foreign guarantees.
 
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