Apologies if I am posting this in the wrong forum. I have a sizable sum of money with Bank of Ireland in a product called 'BOI Callable Bond Series 7' which is due to mature in March 2012. It says it has a Capital Guarantee but I'm wondering what the risks are. I really wanted a fixed interest deposit account but was convinced by the BOI salesman that this was a better option. As far as I know there is nothing I can do as it is locked in until maturity in 2012.
I assume this is covered under the capital guarantee as long as BOI is solvent. However as the Government guarantee only covers deposits would this be covered if BOI go to the wall.? Any advice would be appreciated.
I assume this is covered under the capital guarantee as long as BOI is solvent. However as the Government guarantee only covers deposits would this be covered if BOI go to the wall.? Any advice would be appreciated.