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Term deposits

Discussion in 'Other Asset Classes' started by Dean Collins, 18th Oct, 2016.

  1. Dean Collins

    Dean Collins Well-Known Member

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    whats the highest rate of return you are currently getting for your

    1 month,
    6 month,
    12 month

    term deposits and what percentage rate increase would you need to see to encourage you to change banks and deposit your term deposits with someone else?

    (not interested in info about day to day transactional accounts just term deposits with Australian banks).
     
  2. Magoo

    Magoo Well-Known Member

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    It's a joke...Only yesterday I got a bit over 2% with ANZ for 3 months.
    Just needed to park some coin after cashing in some shares.
    Getting ready to purchase a property with my SMSF. :D
     
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  3. Scott No Mates

    Scott No Mates Well-Known Member

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    @Dean Collins - Have a look at the on line accounts and cash management accounts. Some banks even offer attractive introductory rates - ING, Rabo, Fruit and Nut Pickers Bank of Nigeria etc.

    How long is 'short term'?

    Is putting the funds into your offset to reduce interest paid not an option (isn't it better not to pay 4% than to receive 2%)?
     
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  4. D.T.

    D.T. Adelaide Property Manager Business Member

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    Didn't have an offset account available?
     
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  5. willair

    willair Well-Known Member Premium Member

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    Just over 2% with the NAB,that stays like that for 4 months then it goes back too 1.4% if you don't ring them up,and ask for another special rate..
     
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  6. Dean Collins

    Dean Collins Well-Known Member

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    Did (well portfolio loan) but paid all of that off already, only fixed portions left to go but recently got another $700k IP loan approved by Westpac so will have more variable to pay down once I find a new place........however the question was more "market research" about AussieProperty Bank and what sort of rate they'll need to offer in 1/6/12 month term deposits to convince people to move from term deposits with the Big 4 etc.
     
  7. hash_investor

    hash_investor Well-Known Member

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    Why term deposit and not savings account? Any savings account i.e. RAMS, ING etc. would pay better than term deposit rates in their savings accounts.
     
  8. jhmtaylor

    jhmtaylor Well-Known Member

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    I agree, ING Direct are paying 2.75% at call and 3.00% TD for 12 mths
     
  9. apk

    apk Well-Known Member

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  10. jhmtaylor

    jhmtaylor Well-Known Member

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    From there website "The investment is not a bank deposit. Withdrawal rights are subject to liquidity and may be delayed or suspended." Thus not Australian Government Guarantee on deposits. There are higher returns with less risk around if this is your bag. Eg Hybrids
     
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  11. Spoony

    Spoony Member

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