G'day everyone, just posting re current bank term deposit rates and what kind of deals on offer.

I have just taken a 6month term dep with NAB's online U bank service which is offering 6.41% with a (dont laugh) "loyalty bonus"of 0.10% if I roll it over on maturity, wow, 1c in the dollar could be hard to ignore

Hope this may be of interest if you are looking for a reasonable deal in a tight market, it was the best I could find and Which bank and Westpac couldnt match it. If you know of a better deal perhaps you could post for forum members,

Cheers,
Ozi2

Whatever the rate, your money is a lot safer than in shares!!! And no Superannuation company Fees either!

The most recent ANZ rate is 6.75%. Not sure about those "loyalty" rates. No matter how much they give us for the use of our money, they will make a whole lot more profit than we ever could, pro-rata. You have to have millions to make a buck out of any investment. I lost a bucket of my managed funds and have pulled out, but it's all a bit late. Good luck with your punting in any financial institution.

I use www.ratecity.com.au to checkout the best rates, mate has divided his self managed supa into 4 and checksout and rolls over every three months, to get the highest rates but to me mostly they are not as good as 6 monthly rates.

Peter

"whether bank or shares"
I have my money is Ozz shares at the moment.
I have felt some pain over the last cuppla years - but now I am getting 19% return.
I personally hate banks and so I am happy with my present arrangements.
Horses for courses !!!!

Agree, 19% is a good return. But the point about bank/credit union interest is that at the end of the day/term you still have your capital. A few bad days on the stockmarket and you're penniless and gazing on a very bleak future. Cheers, Tony

I believe in the often given advice of spreading risk. Some in shares, some in property, some in cash. You may have to ride some ups and downs in the market but you won't be penniless after a few bad days on the stockmarket as suggested. That will only happen if you're day trading, using margin loans, and/or "have all your eggs in the one basket". Don't invest in anything you don't understand and remember the well worn cliche..."If it seems too good to be true it probably is!"