Anglo-Irish Bank

savingsara_2

Hi All

Has anyone got any thoughts on the Anglo Irish bank's fixed rate bond?

Thinking about a 4 year bond......

tom188

if you think rates are going to go down over the next 4 years its good.
if you think rates are going to go up over the next 4 years its bad.

its fine if you arent going to need the cash, unsuitable otherwise.

not really much else one can say.

Rhino666

I have a fixed rate bond with the Anglo Irish bank. If you are asking about them rather than the feasibility of a fixed rate bond at the moment, I can confirm that their service is excellent and that they are a reputable bank.

chesky369

Why are ISAs out of the question

Rhino666

Hi Sara

Don't know if I can save you but......

http://www.moneyfacts.co.uk/savings/bestbuys/fixed-rate-savings-accounts.aspx

Is a good guide to fixed rate bonds. A shame that you will only deal with face to face contact rather than over the internet but I'm sure that could be arranged. May be work waiting a week or 2 - the recent rate rise has not taken full effect yet and there is a possibility of another 0.25% rise in June or more likely July.

Best wishes

Rob

savingsara_2

Please can anyone tell me what happens when the term of the bond ends?

Does it get automatically reinvested in a similar bond or do you just get a cheque or is it put into a "normal" Anglo Irish account.

Rhino666

Hi again Sara

Thanks for the last post and apologies for the delayed reply - I hadn't considered this myself with my bond and had to contact Anglo Irish - they reply very quickly, well at the earliest opportunity really.

' We will send you a letter around two weeks prior to the maturity of your bond, offering you a number of options. You are able to place the funds upon maturity immediately in any of our Personal Saving products with out the requirement to complete any paperwork, or you can withdraw the funds to your current account with Abbey ending ****.

If you do not contact us before the maturity date, the funds will be placed in an Easy Access account for you, currently paying an extremely competitive rate of 5.85%'

The Abbey account is the original account on which the cheque for this investment was drawn. The have verified it, so if you want money paid to a particular account on maturity, use a cheque from that account.

HTH

Rob

wayne42

I think I remember reading that the capital sum is 100% guaranteed against bank foreclosure..Is this correct?
Also..20% can be withdrawn without loss of interest.