Rate Cut by 50 basis point to 3.75%, UBank 6 months deposit still 6.01%

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  mattgal on 01/05/2012 - 18:44 ¶

  hmm, time for a term deposit. i'm suprised - usually the banks are way ahead with their rate drops.

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    realfamilyman on 02/05/2012 - 17:18 ¶

    UBank seems to only drop after the other banks do. (If others don't - they don't either.)

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  cuteduck on 01/05/2012 - 20:01 ¶

  Just locked in for another 6 months….the rate will get reviewed/revised soon

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  m0nkeycheese on 01/05/2012 - 20:10 ¶

  Tempted to move some cash from ing

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  freemoneyhunter on 01/05/2012 - 20:38 ¶

  It would be best to put it in the stock market, when the RBA lowers interest rates, it spurs economic activity causing asset values to increase, when they go up too much the RBA begins raising interest rates. I would strongly advise to remove your deposits and invest them.

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    alwayscheaper on 01/05/2012 - 21:32 ¶

    Which stock did you buy because of rate cut?

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      sparkyglo on 01/05/2012 - 21:34 ¶

      Thanks so much for pointing this out mate, would not have thought to lock some of my usaver money away for 6 months if you hadn't pointed this out. Now when the usaver rate goes down I won't feel so bad! Thanks again for your post.

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    mattgal on 01/05/2012 - 23:03 ¶

    I would strongly advise to remove your deposits and invest them.

    meh, part of any good diversified investment strategy would be to have some cash in the bank. if the stock market goes tits up next week you'll be able to survive.

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    realfamilyman on 02/05/2012 - 17:21 ¶

    The condition banks have gotten themselves into, it might be better to buy gold bars and hide them under the bed. ;-p

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    al2011 on 17/06/2012 - 17:18 ¶

    "I would strongly advise to remove your deposits and invest them."
    Hmm, currently ~400pt drop on asx200 since this comment. I'm hoping you didn't invest…

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  CuteBirdy on 02/05/2012 - 11:12 ¶

  Maybe the banks won't lower their rates? Surely if they are lowering they would have done it by now…

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  sparkyglo on 04/05/2012 - 10:55 ¶

  Ubank has dropped their savings rate the full .5%, so the maximum rate now is 5.51% —- Their 6 month term deposit is still 6.01% (for now). Thanks again alwayscheaper for the original post.

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    andysa on 04/05/2012 - 17:31 ¶

    A sure sign of what's to come.

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  Magnate on 04/05/2012 - 14:18 ¶

  6 month term deposit locked in! So Ubank have finally pulled back to the pack, leaving Rabo out front. I wonder what Rabo will do

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  Magnate on 08/05/2012 - 14:38 ¶

  And now the term deposit has dropped. Looks like we got in just in time.