Key Post Safety of term deposits with Irish Nationwide and Anglo

Brendan Burgess

Founder
Messages
43,749
The guarantee expires on 29 September 2010.


The Irish Deposit Protection Scheme covers 100% of deposits up to €100k and will continue to do so after the guarantee expires.

Any fixed term deposits placed on deposit before 29 September 2010, will be guaranteed in full for 5 years.

http://www.itsyourmoney.ie/index.jsp?pID=125&nID=757

Amounts over €100,000 will be guaranteed under the ELG Scheme until maturity (maximum five years) if your institution was a participating member of the ELG Scheme on the date you made your term deposit or once your deposit is made before 29 September 2010.

Irish based members of the ELG scheme
Irish Life and Permanent plc 4/1/2010
Bank of Ireland11/1/2010
The ICS Building Society 11/1/2010
Allied Irish Banks, p.l.c. 21/1/2010
Anglo Irish Bank Corporation Limited. 28/1/2010
EBS Building Society 01/02/2010
Irish Nationwide Building Society 03/02/10

If you made your term deposit before your institution joined the ELG Scheme the balance will be guaranteed under the CIFS Scheme until 29 September 2010.
 

Brendan Burgess

Founder
Messages
43,749
If you made your term deposit before your institution joined the ELG Scheme the balance will be guaranteed under the CIFS Scheme until 29 September 2010.

Anglo Irish Bank Corporation Limited. 28/1/2010
Irish Nationwide Building Society 03/02/10

So, if I put €150,000 in Irish Nationwide for two years from 1/2/2010 to 31/1/2011, the first €100,000 is covered by the Irish Deposit Protection Scheme, but the €50,000 is not covered after 29 September 2010?
 

justsally

Registered User
Messages
744
Irish Nationwide and Anglo Irish Bank Best 1 year rate at present

Are both institutions equally safe for deposits? Is there anything else I should be looking out for apart from highest yearly interest rate. Thanks.


Justsally
 
Messages
4,931
Threads merged.

I would think that the 'safety level' with Anglo and INBS is very similar.

You should look at the rate of return, the deposit protection offered and you should consider the perceived safety of deposits with these 2 troubled institutions.
 

justsally

Registered User
Messages
744
Thanks for that. I've decided to avoid those 2 institutions - don't think it's worth the personal hassle for a small amount of extra interest.


Justsally
 
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