Interest rates
#1
Interest rates
If anybody is interested, HSBC have just increased the interest rate on their Serious Saver account to 7.5%. I think this is probably the highest non-introductory offer rate at the moment.
S
S
#2
Forum Regular
Joined: Dec 2004
Location: Perth N.O.R.
Posts: 83
Re: Interest rates
Hi 7.75% Members Equity Bank
#3
Victorian Evangelist
Joined: Sep 2005
Location: Melbourne, by the beach, living the dream.
Posts: 7,704
#5
Re: Interest rates
I had a look at Citibank myself. Initially, the 8% rate looks tempting.
But if you use a compound interest calculator, you will discover that the witholding of interest on that first $10k can really hurt your interest payments over a reasonable amount of time.
S
But if you use a compound interest calculator, you will discover that the witholding of interest on that first $10k can really hurt your interest payments over a reasonable amount of time.
S
#6
BE Enthusiast
Joined: Mar 2008
Location: Camberwell/S.E London > Orpington > Mornington > heart will always be in Tullamore. Co Offaly
Posts: 403
Re: Interest rates
hi can anybody tell me how much can be invested per bank over there with money all protected guaranteed as it is over here for £35000 anything over and if the bank goes bust say goodbye to the rest , would be good to know
#7
Bitter and twisted
Joined: Dec 2003
Location: Upmarket
Posts: 17,503
Re: Interest rates
There is no Guarantee in Australian banks
G
#9
Forum Regular
Joined: Jul 2007
Posts: 51
Re: Interest rates
Hope Citibank aren't in too much trouble as i heard they are the worlds biggest bank.
I think the banking sector has had the jitters recently but this has created some good opportunities for investors who are cashed up.You can either sit back & enjoy the higher interest rates or take a punt on the lower bank share prices currently available
I think the banking sector has had the jitters recently but this has created some good opportunities for investors who are cashed up.You can either sit back & enjoy the higher interest rates or take a punt on the lower bank share prices currently available
#10
Re: Interest rates
Hmmm - basic question here, but...
Lots of the interest rates are tiered - e.g.
Balance Interest rate
$0 - $9,999 0.01%
$10,000 - $19,999 5.75%
$20,000 - $49,999 6.25%
$50,000 - $99,999 6.25%
$100,000 - $249,000 6.80%
$250,000 - $499,999 6.80%
$500,000 or more 7.00%
So if you stick a balance of $275,000 into the account, does it all qualify for the 6.8% rate, or will $9,999 be at 0.01%, the next $10k at 5.75%, the next $20k at 6.25%, etc.
Thanks.
Lots of the interest rates are tiered - e.g.
Balance Interest rate
$0 - $9,999 0.01%
$10,000 - $19,999 5.75%
$20,000 - $49,999 6.25%
$50,000 - $99,999 6.25%
$100,000 - $249,000 6.80%
$250,000 - $499,999 6.80%
$500,000 or more 7.00%
So if you stick a balance of $275,000 into the account, does it all qualify for the 6.8% rate, or will $9,999 be at 0.01%, the next $10k at 5.75%, the next $20k at 6.25%, etc.
Thanks.
#12
Bitter and twisted
Joined: Dec 2003
Location: Upmarket
Posts: 17,503
Re: Interest rates
I started a thread about it a few weeks ago
http://britishexpats.com/forum/showthread.php?t=510531
does not look good.
G
#13
BE Enthusiast
Joined: Mar 2008
Location: Camberwell/S.E London > Orpington > Mornington > heart will always be in Tullamore. Co Offaly
Posts: 403
Re: Interest rates
thanks for the replies can anybody tell me at what rate you get taxed on your savings like over here 20% then 40% for high rate tax payer and do these accounts pay monthly / annual interest . only reason i am asking as will be bringing house sale money over ( like many others ) and until we decide to buy would like it earning us some good old fashioned interest
#14
Bitter and twisted
Joined: Dec 2003
Location: Upmarket
Posts: 17,503
Re: Interest rates
thanks for the replies can anybody tell me at what rate you get taxed on your savings like over here 20% then 40% for high rate tax payer and do these accounts pay monthly / annual interest . only reason i am asking as will be bringing house sale money over ( like many others ) and until we decide to buy would like it earning us some good old fashioned interest
G
#15
Re: Interest rates
thanks for the replies can anybody tell me at what rate you get taxed on your savings like over here 20% then 40% for high rate tax payer and do these accounts pay monthly / annual interest . only reason i am asking as will be bringing house sale money over ( like many others ) and until we decide to buy would like it earning us some good old fashioned interest
www.ratecity.com.au