Anglo Irish Fixed Bond - should I reinvest?

joyfull

My one year bond is about to mature & I'm being offered 3.30% Gross AER if I re-invest with them now. This seems an OK ish rate taking into account the convenience of staying with AI rather than going elsewhere with the additional hassle & time out with loss of interest. (I currently have a larger amount with AI in a 2 year fixed rate bond at about 7%).

I had some anxious times in the last year with the stability of AI (the Irish government) often in doubt.

I'd be interested in people's thoughts about the wisdom of putting money back into Anglo Irish.

Many thanks.

Bromley86

Don't.

I don't know whether there's a serious problem with AI or not, but you can dump all that money in NR with a 100% UK government guarantee and get an extra 0.1%.

Not that I am suggesting that NR is the best option, but from what I can see it beats AI on all points.

D1zzy

joyfull wrote: »

My one year bond is about to mature & I'm being offered 3.30% Gross AER if I re-invest with them now. This seems an OK ish rate taking into account the convenience of staying with AI rather than going elsewhere with the additional hassle & time out with loss of interest. (I currently have a larger amount with AI in a 2 year fixed rate bond at about 7%).

I had some anxious times in the last year with the stability of AI (the Irish government) often in doubt.

I'd be interested in people's thoughts about the wisdom of putting money back into Anglo Irish.

Many thanks.

When mine matured the money was in my nominated account by 9 am on the day of maturity (brilliant) - so either complete an application for one of the better fixed rates and send off a cheque when you get the money, or with a bit of luck you can FP it to an instant access account giving similar or bette rates then AI.

kostigovs

joyfull wrote: »

My one year bond is about to mature & I'm being offered 3.30% Gross AER if I re-invest with them now. This seems an OK ish rate taking into account the convenience of staying with AI rather than going elsewhere with the additional hassle & time out with loss of interest. (I currently have a larger amount with AI in a 2 year fixed rate bond at about 7%).

I had some anxious times in the last year with the stability of AI (the Irish government) often in doubt.

I'd be interested in people's thoughts about the wisdom of putting money back into Anglo Irish.

Many thanks.

Mine's matured today and I opted for the maturity proceeds. Now I have to find a home for it.

I just felt a wee bit more secure not having to rely on the Irish Government should the worst happen. That's not to say I have more confidence in the UK equivalent just that they seem to be nearer home

Mini_Bear

I breathed a huge sigh of release - similar to D1ZZY as my bond matured today and the cash was in my acct at 9am - FAB!
I personally couldnt deal with another 12 months of anxiousness re the Irish govts stability and wud prefer to keep my pennys closer to home - even if the rates a little worse.
Up to you though OP. Personally they would have to offer 5%+ to keep my business for the extra hassle/stress etc.

Sceptic001

D1zzy wrote: »

When mine matured the money was in my nominated account by 9 am on the day of maturity (brilliant)

Me too. I am not aware of any other bank that does this when closing fixed term accounts.

Anglo Irish is far and away the best bank I have dealt with. It is a great shame they are not covered under the UK FSCS.

gozomark

Thumbs up for AI efficiency from me as well (in this case with IoM side) - all dealings with them have been excellent.

soulsaver

Personally the Irish guarantees never caused me any worry. The worry mongering on here was stirred up by people with little to fill their time and even less assets.
Having said that there are better rates around, some significantly so.

joyfull

Thanks for all the feedback. I agree AI have been great in all ways, except stability. I think I will go with Northern Rock. Seems easy enough to open an account & I will sleep slightly easier.