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What bank to put my money in?

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  • 25-01-2010 9:39am
    #1
    nick23
    Registered Users Posts: 255 ✭✭


    Hi i currently have about €20000 gaining interest in an anglo account (was something like 4.5% interest over 12 months)
    The account will mature at the end of the month and obviously i want to keep gaining good interest on it but I dont have the time to spend investing with the dedication i'd like.
    My question is which would be the best bank to put my money into? (I'm loioking for a fixed term account from anywhere between 6 - 18 months)

    Also i have been hearing that the governments guarantee for the safety of deposit accounts will expire in september. Is this something i should take into account and if so what's the best way to ensure the safety of my money?

    Thanks in advance for any help you can give me

    Nick


Comments

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    #2
    nick23
    Registered Users Posts: 255 ✭✭nick23


    Anyone?


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    #3
    lilstar85
    Closed Accounts Posts: 16 ✭lilstar85


    Well i know a great bank .... you can put it in mine lol

    I promise you it will be very safe....! ;)


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    #4
    homer911
    Registered Users Posts: 5,113 ✭✭✭homer911


    If your only criteria is maximising return without thought to security/risk, then askaboutmoney has a thread which lists the returns available from various banks and its kept up to date

    Try this one for fixed term:
    http://www.askaboutmoney.com/showthread.php?t=101813

    Or this one for variable:
    http://www.askaboutmoney.com/showthread.php?t=102329


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    #5
    akadesign
    Registered Users Posts: 406 ✭✭akadesign


    So what happens after september and the governments guarantee expires, is our money at risk?


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    #6
    homer911
    Registered Users Posts: 5,113 ✭✭✭homer911


    akadesign wrote: »
    So what happens after september and the governments guarantee expires, is our money at risk?

    Thats for you to decide - by that stage it looks like the main banks will be majority owned by the Irish Gov. anyway

    The only bank (I think?) in the Irish Deposit market that has a higher credit rating than the Irish state is Rabobank (RaboDirect)


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    #7
    i_inky
    Closed Accounts Posts: 21 ✭i_inky


    At the moment Anglo is the safest bank in the country as it is owned by the government. Effectively the government guarantee can not run out.


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    #8
    Andymfinancial
    Closed Accounts Posts: 60 ✭✭Andymfinancial


    if you would consider a deposit type tracker over 1yr and 3 1/2 yrs you may want to consider BCP Split Deposit Bond, go to BCP's website and you will find a brochure there. The performance is outstanding. 8% is available not 6% as stated, PM me and i will tell you how


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