Any banks offering 2% interest on savings?

Hi guys, I feel that everything is overpriced atm, especially the stock market, so might hold back for a bit. Do you think any of the banks would offer me 2% interest on a million big banana's? Or am I dreamin'? What do you think would be a realistic savings interest rate atm that banks could offer on $1M.

PS. Not interested in buying more property as I am in my exit strategy.

Thanks.

 

If you find one, please let us all know!

 

One of mine has researched this and tells me 1.25% in a bonus saver account is the best they can do. They have your $1m+ but also do not want to put more than $250k into any one bank. If you find better I would be pleased to know!

 

Westpac offering 3% on your first $30k, problem is you have to be under 30. Find a younger and give them the 1% difference for their troubles.

 

What happens if you got more than 250K in a bank? Do you spread the money through other banks or can you buy some sort of insurance to safe guard all your dough?

If a major bank goes bust they’ll probably drag other banks with them and a few insurance companies as well.

 

Over 250k is not covered by the gov. You can get insurance and it's something like 0.8% a year from memory, maybe more.

The 250k is coverd by the tax payers, and if they can't pay the RBA will have too fork out the money. And people with guns will go and collect. I could get rather messy if it got to that.

 

I work for an ASIC Regulated Pooled Mortgage Fund paying up to 6.0% per annum based on a 12 month term. Happy to send you a PDF with some more information if you like or talk over the phone if you prefer.