Great interest rate offered by Macquarie Bank:
Interest paid at maturity
Term Interest paid at maturity
3 months 1.75% p.a.
6 months 2.40% p.a.
9 months 2.70% p.a.
1 year 3.25% p.a.
Interest paid monthly
Term Interest paid at maturity
3 months 1.75% p.a.
6 months 2.39% p.a.
9 months 2.68% p.a.
1 year 3.20% p.a.
It is peer to peer, and not covered by the govt guarantee, but if you're after a bit of diversification it's worth a look at least. I was a bit hesitant and only threw in a couple of thou but it's done okay over the last 18 months. Was thrilled, back then, to lock some in at 5.8%, but that will probably not be so thrilling if other rates continue to move. Still, 3%pa for a month rolling is pretty good.
capped at that rate, whilst theybtake the cream
Looks like ADIs are embracing for a big hike in funding cost.
Sounds nice but as the various writtings on the wall are telling us, in 365 days that 3.25% might not be that nice.
But, who knows?
Is that peer to peer lending, ie high risk?