Is it safe to go back into the (Anglo) water?

[paddywhacker]

Have a 6% fixed term deposit account with Anglo and would like to load more cash into it but with all the hijnks over the last while am not sure if its a good idea to tie up too much there in particular.

Are the extent of all their bad debts etc known now and aside from the gov guarantee (which I wouldn't bank on), how safe is the place - is there more dirty washing to come out?

 

[camlin90]

You can't add more money to a one year fixed deposit account after the initial lodgement.

New one year fixed term deposits at Anglo are paying 4.9% which is the best rate out there for this term.

 

[iggy]

I am lodging most of my savings into their Premium demand deposit account (4.75%). I had it with Northern Rock until they recently dropped their rate from 5% to 4% and within a couple of weeks 3.25%.
So heres hoping I dont have to meet you at St.Stephen`s Green with our flaming torches and banners!

 

[Slim]

gov guarantee (which I wouldn't bank on)

Care to share your reasons for this comment?

 

[paddywhacker]

Care to share your reasons for this comment?

I'm just not convinced of how easy it would be for them to honour this guarantee given they're in dire straits at the moment.

 

[Slim]

Interesting - so what happens to our savings if Anglo is declared bust, if that can in fact happen?

 

[paddywhacker]

This is the reason for my question. If there was reason to believe that all the Anglo dirty washing has been aired and the extent of the problems was out in the open, then I might venture back with more cash.