Cash & Bonds Best return for SAFE short term money .

Discussion in 'Other Asset Classes' started by See Change, 30th May, 2018.

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  1. See Change

    See Change Well-Known Member

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    We're looking at parking some money in our Super fund for a period of 3-6 months . Around about 450 K . Needs to be 100 % safe ie term deposit etc .

    Haven't specifically looked at this market before .

    Any suggestions ?

    Cliff
     
    See Change, 30th May, 2018
    #1
  2. Ross Forrester

    Ross Forrester Well-Known Member

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    2.66% term deposit
     
    Ross Forrester, 30th May, 2018
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  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Perhaps split with 2 separate banks
     
    Terry_w, 30th May, 2018
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  4. Nodrog

    Nodrog Well-Known Member

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    Last edited: 30th May, 2018
    Nodrog, 30th May, 2018
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  5. See Change

    See Change Well-Known Member

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    ok , so the Govt guarantee is for amounts up to 250 K at certain institutions ?

    Is there a list of which institutions that applies to ?

    Cliff
     
    See Change, 30th May, 2018
    #5
  6. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Yes, you can find it via google. Most banks and building societies and some non banks too.
     
    Terry_w, 30th May, 2018
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  7. See Change

    See Change Well-Known Member

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    See Change, 30th May, 2018
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  8. JDM

    JDM Well-Known Member

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    Put it on red...being serious though, term deposit is the clear choice in your situation and 2.75% is market leading.
     
    JDM, 30th May, 2018
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  9. Anthony Brew

    Anthony Brew Well-Known Member

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    Someone mentioned in another thread that RAMS has a bonus saver account where if your balance is $200 up to $500,000, you can get 3% pa paid monthly if you deposit $200 that month and do not withdraw. I believe your money is at call any time you want to withdraw it as long as you are willing to give up the interest for the current month it is withdrawn?

    Edit: and seems to be guaranteed.
     
    Last edited: 30th May, 2018
    Anthony Brew, 30th May, 2018
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  10. willair

    willair Well-Known Member Premium Member

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    willair, 30th May, 2018
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  11. See Change

    See Change Well-Known Member

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    See Change, 30th May, 2018
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  12. willair

    willair Well-Known Member Premium Member

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    Yes it would be more safe to keep the funds within Australia ..CBA at $65.00 but even that could still implode sideways..ïmho"..
     
    willair, 30th May, 2018
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  13. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    Is there any way Super money could be parked in an offset account temporarily? Perhaps via a loan agreement?
     
    Peter_Tersteeg, 30th May, 2018
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  14. Nodrog

    Nodrog Well-Known Member

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    Likely for individuals NOT SMSFs. Read the fine print.
     
    Nodrog, 30th May, 2018
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  15. See Change

    See Change Well-Known Member

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    Interesting thought , in particular if the rate reflects the offset rate , which is obviously higher than what you'd otherwise get . My gut feeling says no

    @Terry_w , I assume no ?

    Cliff
     
    See Change, 30th May, 2018
    #15
  16. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    A SMSF could lend to a related party, but up to I think 5%.
    It could lend to a non-related party.
    Must be on arms length terms though.
    Seek legal advice if contemplating this.
     
    Terry_w, 30th May, 2018
    #16
  17. bobbyj

    bobbyj Well-Known Member

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    UBank: up to $250k you get 2.80% return in a high interest saver account

    No restrictions on withdrawals. Just deposit $200mininum per month. Any amount over $250k brings it back down to 1.81%
     
    bobbyj, 30th May, 2018
    #17
  18. bobbyj

    bobbyj Well-Known Member

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    With the balance, you can deposit into ING high interest saver...
     
    bobbyj, 30th May, 2018
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  19. Nodrog

    Nodrog Well-Known Member

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    Yet again are you quoting the rate for “individuals” NOT SMSF?
     
    Nodrog, 30th May, 2018
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  20. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    offset account on super borrowings

    5.xx to 6xx pre tax and guaranteed

    ta

    rolf
     
    Rolf Latham, 30th May, 2018
    #20
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