They are offering 1.9% for 5 month, any experience with them? They are the old QANTAS credit union, I guess they are a reliable bank. I need to park some funds for a while as my bank is only offering 1.35%.
I’ve used their services for over 20 years. Low to no fees on a lot of products. I would recommend them.
It's per annum but a term of 5 months. But it seems that one can now have a longer term of 12 months and still get the 1.9%.
Just so i can be clear on this...i can put 1 Million into this and in 5 months i will receive 19K after only 5 months?....or i will get the 19K after 12 months? thanks
Annum is Latin for year. So for a million you would get $19K if you invested for 12 months. For 5 months you get $19,000.00/12= $1,583.88 a month times 5 = $7,916.00 But yes if there is the option to invest the full amount for 12 month then you would get the full $19K. Edit: Just checked and now you can invest for 12 months Term Deposits | High Interest Savings Account - Qudos Bank Just remember that the 1st $250K are government guaranteed like any other institution.
Hi John, Just looking at Qudos Bank term deposits on the back of this thread and I can see options that vary from 3 - 12 months at the same rate of 1.90%. What would be the reason (if any) that someone would opt in to the 12 month TD when they can get the same $ return from doing the 3 month option and just renewing the 3 months 4 times without being locked in at 12 months? Keen to get your insight. Also using your quote above - if TD's over $10k and 3 month durations are 1.9%, does that mean for the $10k at the end of the 3 month TD, i'd get $190 / 12 x 3 months = $47.5? Thanks
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