Current British Bank safety

kemsing

Hargreaves Lansdown have just launched a high (ish) rate deposit facility for SIPP and ISA clients. Its with Bank of Scotland which is part of HBOS and offers 6% for 3mo, 5.75% for 6mo and 5.5% for 1yr.
How confident would you be saving with HBOS? The amount is over the £50000 guarantee. Am I worrying needlessly?
Thanks!

EdInvestor

I thought H-L spread its cash round a variety of banks?

Even so, HBoS is about to get taken over by Lloyds and partially nationalised, so I wouldn't worry too much, even though IMHO it's not wise to exceed the guarantee.

It's anyway not sensible to leave pension money in cash for long..

jennifernil

sorry, wrong button pressed!