I am looking at a good term deposit rate and came across cmecapital.com.au. Has anyone heard / got any experiences or thoughts on CME capital? It does sound too good to be true, but can't find enough info/reviews online…
Term Deposits - CME Capital
Questions on 25/03/2015 - 21:13
Last edited 25/03/2015 - 21:14
Last edited 25/03/2015 - 21:14
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Just checked the govt guarrentee and they are not listed. Thanks for checking it out. I thought it was too good to be true.
Looks like its an offshoot of http://bostonpacificcapital.com.au, Same registrant name, T&C are same except urls nd names replaced.
This lot advertise 30 years experience, but company
Boston Pacific Capital Pty Ltd
ACN:167 099 087, ABN:66 167 099 087
ACN Effective From: 2013-12-05CME Capital only registered from 8/2014
They refer to product as "A fixed term facility"
I think all 'term deposits' up to max$ limit in Aust will be backed incase of default, but not debentures etc.
Anyway this was refreshing as we will hopefully see high interest rates back in oz in 10 years or so.Don't take these rates as an indication rates are going up.
- They are high to get more people's money locked in for longer
- The rates are higher in the longer terms as they pay only in maturity not annually - hence compounding interest.
Hopefully no one gets suckered. Thanks Noyanono!
I'll have a look, but are they covered by the gov. deposits gaurantee?
I tracked 3 very hi interest investment firms about 10 years ago.
Two disappeared from the internet entirely in under 2 years (before most payouts). One was still providing payouts as promised 5 to 7 years later.
Lucky draw on unsecured investments, if that's what this company has on offer.
Had a quick look.
Looks like a debenture or something. I.E. RISKY,RISKY, RISKY!
From their T&C - "The investment is guaranteed by the assets of the company only"
No list of Directors, with their extensive financial experience, no long term track record stated etc. Nothing really but minimal.
Just a 1300 number and email address.
These sorts I guess just get investment capital, travel, eat well, buy sports cars and girlriends diamond necklaces with your savings, then unepectedly claim bankrupy a couple years later.
Too risky. Too many people been burned in past to trust regulators allowing such rorts.
HTH