120K to invest for 1 Year

[Astro_man]

Hi All,
I have 120K to play with for 1 year.
Looking at putting this sum of money into Anglo Irish Fixed Term Account
They are offering 3.8% AER for 12 months.
Does anyone know if this is safe? Best option?
I dont want to take any risk.
Any suggestions would be appreciated

 

[Guest116]

It is a nationalised and state gauranteed bank. It is safe. I have some money in Anglo myself.

 

[Astro_man]

Thank you for your reply Aristotle25

 

[Guest116]

The state gaurantee currently runs to September 2010 as far as I know, it is likely to be extended or potentially Anglo would be wound down and overnight your savings would be automatically moved to some other bank who would take over Anglo's deposits.

 

[Astro_man]

Great to know that...thank you

 

[Lightning]

Does anyone know if this is [the] Best option?

Yes, in terms of the rate offered for a one year term deposit.

See the best buy term deposit thread.

Best Buys - Highest Term Deposit Rates

6 Months - Investec - 3.25%
1 Year - Anglo Irish Bank - 3.80%
2 Years - Bank of Ireland - 3.44%
3 Years - An Post - 4.30%
5.5 Years - An Post - 4.70%