Decent interest rates

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13th February 2009, 08:17 AM
Grumpy John

Decent interest rates

As POA for my mums finances I'm trying to find a financial institution that is offering decent interest rates. The best so far is ING with their Savings Accelerator earning 4.25% (variable) on balances of $50,000 and over. Does anyone know of any other institutions offering these kind of rates (MUST have Govt. guarantee). I need best possible rates as this is what's funding mums expenses, she also gets a part pension.
13th February 2009, 08:56 AM
Sturdee

Quote:

Originally Posted by Grumpy John

I need best possible rates as this is what's funding mums expenses, she also gets a part pension.

If she gets a part pension is she entitled to a deeming rate (as set by Centrelink) from the major banks? This rate is better then she would get otherwise.

Peter.
13th February 2009, 09:00 AM
Grumpy John

Quote:

Originally Posted by Sturdee

If she gets a part pension is she entitled to a deeming rate (as set by Centrelink) from the major banks? This rate is better then she would get otherwise.

Peter.

Is the deeming rate better than 4.25%?
13th February 2009, 09:10 AM
snowyskiesau

There's a list of Interest rate for term deposits here.
Not sure how comprehensive the list is.
13th February 2009, 09:21 AM
Lignin

I am getting a better rate than that from Westpac, but I have to "Internet Bank", and I'm sure the rate will plummet when it comes up for renegotiation.Might be worth a look, though.
13th February 2009, 09:31 AM
Grumpy John

Wectpac esaver is offering 4.4% for balances over $50K. Due for review 31 March.
13th February 2009, 10:00 AM
Calm

Regional one is 4.75 for 2 months interest on maturity.
13th February 2009, 10:14 AM
Sturdee

Westpac deeming rate is 3 % up to $ 41k then 5 %. Was better prior to last December.

Peter.
14th February 2009, 06:59 AM
Grumpy John

Thank you everyone for your responses, I've "parked " the money (~$200K) in wpac @ 4.4% 'till I decide what the best options are. Calms suggestion of Regional One is looking pretty good, thanks mate :2tsup:.
14th February 2009, 10:13 AM
Pheonix

You will be flat out geting anything above 4% lately, I withdrew all my investment money from my super fund to put it into term deposits @5.4% this was before xmas. Due to mature in March, so not looking forward to getting any great return,but at least my money is not diminishing at the rate it was in the super fund,lost over $70k.Enough is enough, every time I checked my balance was headed west $3k one day,$2k the next.Bugger them. :((
14th February 2009, 08:33 PM
Timber stacker

I've got a mate who was only able to get 3.5% at the Bendigo bank this month, I was lucky when I opened a term deposite for 7% at the Bendigo bank last september just before rates began to dive.

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