Term deposit rates

Bit off topic but does anyone have any term deposit rates that are decent. Had a quick look online but just wondering if anyone has anything above the ordinary?

Cheers
Dan

 

For $50,000 or $500,000 or $5,000,000?

 

$900k for 12 months

 

i would rather put it in one of the big4 bank shares and receive dividends

 

They are pretty sucky at the moment. You might be best going for one of the savings bonus accounts, some of them have a maximum amount though. Many will have a stipulation that you deposit each month but you can either keep some out and deposit that each month or just put some extra savings in there.

 

For that kind of amount and term, you should be able to negotiate something slightly above the published rates. Ignore the big four and phone around some of the smaller mutuals. A rate of 3.05 or 3.10 should be achievable with a bit of effort.

 

Great thanks everyone. Will ring around

 

Most require a minimal deposit, but only around $20 or so with no withdrawals.
Marg

 

If safety is paramount spread it across four different approved deposit institutions as the Government Guarantee is only $250k per institution. Unlikely anything will happen but you never know especially with smaller banks if we get an even worse GFC type event. Black swan events can happen out of the blue and with devastating speed.

 

Twelve months is far too short a time frame for the stock market. The risk of losing capital far outweighs the higher return.
Marg

 

The most I can get is just below 2%,and if I don't reset the amount each three months then it's goes back too below 1.5-1.2% but it's safe ..
The other way would be wait or as it's happening right now wait for a massive write-down and a spectacular crash in the the TOP-4 Banks equities list following the scandals that are yet to surface in the mainstream media outlets..imho..

 

buy a commercial bond?

 

There's some good deals to be had with online high interest savings accounts. Just be aware of the conditions and take advantage of them.

A browse of the following forum will give you an idea of the popular accounts:
Banking - Finance - Whirlpool Forums

One of many threads:
Savings accounts - Best deals - Part 2 - Banking - Finance - Whirlpool Forums

 

I would rather preserve my capital if I needed it in 12 months. If you put your money in some banks you would have lost 3% of your capital every month for the last month if you put it in some banks 2 years ago you could have lost much more of your capital. The risks don't justify the possible meagre returns. You would be better to sell your bank shares before they go ex dividend or if they went up, then wait till they go ex dividend as they often drop by more then the dividend. Banks are a long term investment.

 

Awesome thanks heaps!