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
     
  2. Ross Forrester

    Ross Forrester Well-Known Member Business Member

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    2.66% term deposit
     
  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker Business Member

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    Perhaps split with 2 separate banks
     
  4. Nodrog

    Nodrog Well-Known Member

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    Last edited: 30th May, 2018
  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
     
  6. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker Business Member

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

    See Change Well-Known Member

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  8. JDM

    JDM Property & Conveyancing Lawyer Business 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.
     
  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at call any time you want to withdraw it as long as you are willing to give up the interest for the current month it is withdrawn?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
  10. willair

    willair Well-Known Member Premium Member

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  11. See Change

    See Change Well-Known Member

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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"..
     
  13. Peter_Tersteeg

    Peter_Tersteeg Finance broker and strategist 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?
     
  14. Nodrog

    Nodrog Well-Known Member

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    Likely for individuals NOT SMSFs. Read the fine print.
     
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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
     
  16. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker 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.
     
  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%
     
  18. bobbyj

    bobbyj Well-Known Member

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    With the balance, you can deposit into ING high interest saver...
     
  19. Nodrog

    Nodrog Well-Known Member

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    Yet again are you quoting the rate for “individuals” NOT SMSF?
     
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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
     
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