Ubank Drops Usaver Rate Again to 3.37% !!!! See link below
Ubank Drops Usaver Rate Again to 3.37%
cuteduck on 18/05/2015 - 22:08
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Everyone is dropping rates.
Current interest rates available are just above inflation. And by the time you pay tax on the interest you will be below inflation.
No more incentive to save. Lets all go and spend up big time…Time to learn shares you mean. From the little I've read - and I have tried to learn this subject several times over the years - the return received through dividends (as listed in investing magazine tables I've seen) seem to be about 3x better than this pitiful interest rate.
Past performance isn't indicator of future performance
Research ETFs, you're able to get exposure to much larger markets and sectors than just trying to choose individuals stocks. It's also good for managing risks, but as with everything, there are risks.
But it normally is.
If you invested in the "blue chip" banks about 6 weeks ago it would now take you 3 years of dividends to recover your capital losses at today's price…
Difficult to "learn" shares as even the professionals get burnt.
Anyone know who has the highest saving rate now?
ME Bank, when taking bonus rate for 4 months.
http://www.infochoice.com.au/banking/savings-account/high-in…
RAMS aren't far behind at 3.80%.
You need to credit $200/month and make no withdrawals to get that rate though.
ING Direct is certainly pulling ahead of UBank, especially with their 2% cash back and far more liberal ATM policy. I imagine they'll lose a lot of depositors unless they lift their game.