Is there such thing as a long term high interests lock in can’t touch savings account with any banks? I’m after something that can be withdrawn least 12months, which bank has the best feature for this as I’m trying to place all my income into it, cheers.
Long Term Lock in Savings
DEvok on 11/12/2017 - 14:33
Last edited 11/12/2017 - 14:34
Last edited 11/12/2017 - 14:34
Comments
But can u keep making new term deposits even after doing one? I know like you mentioned you can not add.
The minimum to open a term deposit varies between $1k - $10k.
I think you'll find that term deposits actually pays LESS interest that a bank's/society other saving account options.
Last I checked, a few months back, and that was the irony I observed. You'd think fixed term would pay slightly more %, but no.
Google "term deposit".
high interests
Bank interest is relatively dismal.
Personaly I would invest a percentage into the big 3 Crypto coins.Maybe real estate is the best option nowadays. My region has dropped again in price. A two bedroom weather board home, 860'ish m2 block in Perth metro, rent paying over 9%, was up on realestate.com.au for $160,000 in the past month. 10-15 years ago at the property boom it would possibly have fetched $300k.
Crypto may crash 100% in future (?), I don't get why it's popular. It seems a stupid thing to me, no offense meant to anyone, but it does.
I believe the OP is looking to get a return on capital in 12 months.
The housing market is going to feel significant pain in 2018.
To many investors have bought in at the top of the market.
Rental rates are easing. The RBA will have to raise interest rates in 2018.
As soon as that happens there will be an influx of investors trying to bail out.
Supply and demand will dictate what happens to values.
Plus the OP lives in SydneyYou mention crypto may crash 100% in the future, well your house is only worth x dollars because the market believes it is. Your home is also at the mercy of the market.
My portfolio gained 17% in the last 24 hours, what did you house do?
Maybe this product fits what you are looking for, essentially you are lending out your money to this lender who makes high interest property loans out to others. Its higher risk, and not government guaranteed unlike a bank deposit.
http://www.latrobefinancial.com.au/Investors/12MonthTermAcco…
A term deposit is locked away for a fixed term (ie. 12 months), however you can't add to it after the initial deposit.