What do people think one should now do with bank deposits?
Lock into one of the 18 month deposits?
If yes, which ones?
INBS are offering 6.00% for terms of 6,9 or 12 months. Min is 20k and no maximum
Bank Of Ireland - 18 month fixed rate 8% (5.26% EAR)
* Minimum deposit €3,000, No maximum
* Access up to 10% before December 31st 2008 and 10% again before the term ends
Permanent TSB 10% over 20 months (5.89% AER)
Anglo Irish Bank 6% over 1 year (6% AER)
Halifax, Irish Nationwide, EBS 5.6% over 1 year (5.6% AER)
Minimum deposits & Restrictions on withdrawals may vary.
Not being smart, but do you have a fully functioning crystal ball because this is the only way I know to answer this question. Personally I wouldn’t lock up any money at present but then again my financial accumen is not the best.
It’s hard to know what to do, I have just closed a ECB tracker with 1st Active before lunch and was thinking of putting the money in with NIB fixed for 6 months at 5.45 pc. I’m assuming they are safer than all of the Irish banks !! as I dont want the hassle of chasing down a Danish bank for my money back. Does anybody know, what the CDS’s for Danske are at the moment compared to our own banks ? Thanks
Don’t know the CDS’s, but if the Danish Kroner comes under severe pressure, their deposit protection could be significantly lower in Euro terms right at the very time you’ll be looking to make use of it. Worth considering.
So far, Fortis is not included in the extended guarantee, so your savings are guaranteed to 100k (if you are in Postbank). If you are not in Postbank, I can’t see that the post office savings account is any safer than any of the others except in the regard that it is practically inconceivable that An Post would close down. So there is no danger of having to go through whatever hoops are designed to get your money back from the guarantee scheme.