Which bank lends you money at 5.13% and pays you interest at 7% to redeposit it back to them?
Bankwest Kids' Bonus Saver - High Interest Savings Account offers 7% interest rate
Even better, I could not find any time or deposit limits (let us know if you can see any). The Economiser Variable home loan with the Commonwealth Bank currently charges you 5.13% interest per annum (see: http://www.commbank.com.au/news/news12.aspx). So if you borrow $1m from them at 5.13% pa and redeposit it back into your kids' Bankwest Account (also part of the Commonwealth bank) and earn 7% a year, your family will earn more than $18,000 every year at their expense. Risk free. Like they say, money makes money.
What's more there are no account fees to eat into their funds. By linking to a Bankwest Children's Savings Account and depositing between $25-$250 per month with no withdrawals, children under the age of 15 can take advantage of the Bankwest Kids' Bonus Saver account.
Edited Title for clarity - Mod
This is the worst post ever lol.
You can't earn 7% a year on $1m, you are restricted on what you can deposit.
Get a brain.