Best savings investment option for 100k?

Viewing 5 posts - 1 through 5 (of 5 total)

justin71
Member
@justin71
Join Date: 2007
Post Count: 26
July 14, 2009 - 5:02 am
Hi guys & gals!
Our 6 month term deposit with st george has just finished and looking for another solid place to put it.
We dont need access to it in a hurry but it would be useful I guess. A year ago or so we were getting 8% but now the term deposits are like 4.3% or so! Bit of a bummer.
So at the moment I was thinking of going with bank west smart saver @ 4.5% every month you dont make a deposit and 3% if you do. Seems pretty decent, CBA term deposits are pathetic right now, under 4% I think the guy said yesterday.
So am I missing anything, is this about the best around right now for a bank solid account? The longest we would want to lock it up would be 6 months I guess.
thanks in advance for any advice
regards
Justin
Geelong
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
July 14, 2009 - 6:20 am
Is your own home paid off? if not a 100% offset account may be better.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
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Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
justin71
Member
@justin71
Join Date: 2007
Post Count: 26
July 17, 2009 - 2:18 am
yes its paid off, can u still use them?
Richard Taylor
Participant
@qlds007
Join Date: 2003
Post Count: 12,024
July 17, 2009 - 6:40 am
Certainly can on an investment loan if you have no non deductible debt.
Other than that no regretfully not as there is nothing to offset against.
Richard Taylor | Australia's leading private lender
propertunity
Participant
@propertunity
Join Date: 2008
Post Count: 136
July 19, 2009 - 6:46 am
You can find the best rates on the day @ http://www.canstar.com.au/interest-rate-comparison/compare-100k-term-deposit-rates.html