Simone

Right..... so... can't buy a house till about March next year, because Pascal is still on a temporary visa untill then. Grrr, hope house prizes don't go up to much... though will be able to save a bit more for deposit.

Is is worth the trouble putting our savings (aprox $10000) into an ING (or other) savings account. It's in a HSBC online savings account now, which is good too of course. So is it worth the hassle putting into something a little better?

ABCDiamond

You would get $65 Gross interest per year more in the ING account, based on current rates of:
5.4% ING
4.75% HSBC

A savings history with a lender may also be useful down the track ?

andy thomas

How much extra interest can you get? Every 1% equals an extra $100 over a 12 months period. You'd be lucky to find anything over 1/2% above HSBC so all you are going to make over a year is $50, then that will be taxed as well.

Andy

ABCDiamond

I'm surprised HSBC haven't increased their rates recently, they are beginning to lag behind.

Even St George Dragon Direct are offering 5.25% for deposits under $250,000

HSBC used to offer higher rates than St George.

Simone

Thanks for doing the sums for me!

Well, that's certainly not worth the hassle.(including taking a day of work, or an afternoon...).

ABCDiamond

There is an other option.
HSBC do a 5 month term deposit at 5.72% for deposits from $5,000 to $19,999.

But it doesn't make much difference. Maybe about $8 per month extra.

bondipom

Does bankwest still have their 6% special on. If so they will give you the best return bar INGDirect. INGdirect also have some term deposits offering more than 5.4%

Megalania

Buy Floating Rate Notes?

Get about 8% less brokerage. The price of the notes can change so capital losses / gains are possible - look at price graphs to see how much in the past.

Simone

Geez, I thought you'd know me well enough by now to know that I'm not much into 'financial stuff' :scared: And I'm lazy, often. Geez, that's a different language(funnily enough I was good at maths and economy at high school, but crap at languages...)
Though at least I now know a lot about mortgages and some other stuff.

Ok, glanced at the page again and have figured it's some kind of investing. I can't be bothered with learning about investing just yet. I was figuring out house buying first, though that is postponed, I'm still going to do that first.
Though you never know, I have these wierd phases where I get all into learning stuff. Unfortunetley usually only last for a week or 3, then months of laziness again.. (geez, it's like work and uni, and even fun things I do. There's a real pattern emerging, it's becoming clearer to me. Just haven't got a clue what to do about it yet..)

bridiej

I use ING in the UK, it's dead easy to get at your money!

Jimclevs

Yep..... and their 5% gross is pretty fair.

Jim

walaj

Do any of the newspapers (or other sources) produce a list of the best interest rates for savings, mortgages? I am thinking of along the lines of what Sunday time do each week. (I specifically interested in Sydney, but I'm sure others would be interested for different states)

andy thomas

everyone goes on about ING but to have an account with them you also need another account to transfer to and from. Citibank have an online cash manager account that requires no other accounts and their interest is slightly higher at 5.4%

Andy

Wol

Just send your spare cash to me - PM me and I'll give my bank details for the transfer.

andy thomas

Correction 5.5%. now where has the bloody edit button gone to?