Who else can we lend money to / Other savings and term and deposits?

SomeGuyOnOzB on 30/04/2015 - 08:28

I'm looking to see where I can invest my money in products, such as Savings, At Call and Term Deposits,
but not necessarily just in the top 4 banks.

So I think there's the top 4: NAB, Westpac, ANZ and CBA.

Then I think there are others mentioned regularly here: UBank, ING Direct, Rabo Direct, RAMs, … Arab Bank?

Do you know of any others financial OR OTHER institutions where there are good rates offered to the public?

As a different one, someone told me they got a business loan from the Uniting church, so I checked and yes, they offer investment rates as well. (I'm not sure about all the different such groups … if anyone has info could you please let me know)

Are there other groups worth looking at?

Thank you in advance

Financial

Comments

  • Willy Bargin on 30/04/2015 - 13:40
    +1

    their use to be first home buyer saver account which were great= but not any more

    Rate are so shit atm i would personally rather try to invest it to get better returns.

    2% return - tax = is barely worth it to me.

  • Dacs on 01/05/2015 - 13:49
    +1

    Also look at savings accounts with uBank (3.62% if you deposit $200pm into a linked Ultra transaction account), Bankwest (3.6% for first 4 months) and St George Bank / Melbourne Bank (same bank with different branding) (3.2% for first 3 months).

    • Steptoe on 01/05/2015 - 17:52
      +1

      ME Bank has them all covered for now at 3.85% for 6 months. Also 5% paywave rebate for 4 months on sub $100 purchases.

      • Dacs on 01/05/2015 - 18:02
        +1

        Good find. I looks like it's only 4 months at that rate though. From the Mebank web site:

        You will receive our variable base rate plus a fixed bonus rate of 1.35% p.a. if you open your first Online Savings Account between 8 December 2014 and 10 May 2015, and within the first 14 days, link it to an ME Bank EveryDay Transaction Account by making your ME Bank EveryDay Transaction Account your nominated account. Bonus interest is payable on your first account only, on balances up to $250,000 for four months from the date your account is opened. If successful, you will receive a bonus interest rate confirmation letter.

        Note that many banks including uBank and MeBank only give the bonus interest rate for balances up to $250,000. Bankwest and St George give the bonus rate for the full balance up to $5,000,000. However the government guarantee only covers the first $250,000 on any of these accounts.

        • Steptoe on 01/05/2015 - 18:08
          +1

          Doh! got the durations back to front

          6 months paypass
          4 months interest bonus

          I'm a long way off worrying about have over $250K, let alone exceeding $5M. Great problem to have.

          Deal is from here
          https://www.ozbargain.com.au/node/173774

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