Anglo irish bank - deposit account

barry737

Hi

Interested to hear any views people may have on the following

I am looking at depositing money monthly( regular saver) with Anglo to avail of the highest interest rate of 7.3%.

Given whats going on in the markets I am concerned but given that Anglo is now part nationalised and there is a 2 year government backed guarantee in place, I am inclined to proceed - What do you think?:cool:

homer911

If I may counter your pro-opinion with an anti-opinion...

I have a one-year fixed deposit with them which is about to mature and I'm taking it out:

With monthly installments you are "risking" relatively little
With the mess and deceit in Anglo I dont feel like leaving my money with them
with the current state of the national finances there is probably less risk in putting money with a UK government backed bank or Dutch or Danish for that matter
There is a reason why the return is so high - its called the risk/reward balance.

BTW, anyone notice the Rabobank results last week? 2% growth in Net Profit at a time when almost every other bank is losing millions or billions - a good example of the risk/reward balance (their rates are not great at the moment)

barry737

homer911 wrote: »

If I may counter your pro-opinion with an anti-opinion...

I have a one-year fixed deposit with them which is about to mature and I'm taking it out:

With monthly installments you are "risking" relatively little
With the mess and deceit in Anglo I dont feel like leaving my money with them
with the current state of the national finances there is probably less risk in putting money with a UK government backed bank or Dutch or Danish for that matter
There is a reason why the return is so high - its called the risk/reward balance.

BTW, anyone notice the Rabobank results last week? 2% growth in Net Profit at a time when almost every other bank is losing millions or billions - a good example of the risk/reward balance (their rates are not great at the moment)

Thanks for your feedback
You have confirmed why I am uneasy and posted this question

pocketdooz

I would be very surprised if you had any problems with an Anglo savings account. I have had one for over a year now and to be honest the service/access/interest payments have been exceptional.

seligehgit

Similar to Barry 737 I was contemplating going with the one year regular saver A/C Gross 7.5% AER/Variable with Anglo Irish Bank.Homer 911,would you advise I stick a few bob in my Rabo on line A/C instead?
Selig

Blackjack

Seriously folks - if you have any sense, stick your money in one of the Irish banks.
There are feck all UK banks here that aren't part or Fully Nationalised - sticking it in another country's bank is not helping yourself, and its not helping anyone else except beef up the balance sheet of another county or another country's guarantee scheme.

Your money in an Irish Bank is guaranteed the for the full amount until the the end of September of 2010, and will be guaranteed for all deposits up to 100,000 euros after that.

As it happens, I have an Anglo account, and Service has been exceptional also - no issues, all works as promised.