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Term Deposit 12 Months Interest Rate 2.5% p.a. (Min Deposit $5000, Personal Banking Clients) @ Macquarie Bank


Macqaurie bank term deposit 12 months @ 2.5% might interest some people.
I will hold off till July to see if any increases and delay income to next f/y.

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  • +4

    Interest is payable on maturity. That's generally when it's taxable for an individual i.e. income wouldn't be until next FY if you invested in 12 mth term deposit today

    • +2

      you can get monthly interest for 1.64%. If you have less than $250k then better just going with ING (max $100k) or AMP at 1.35% online savers, but if you have more than those combined then this is tempting, as most other accounts are 1.2% or less atm, so would take 2 full rate rises to get to past the 1.64%. It isn't a long term to lock in and getting interest on interest. I am sure that not all the rate rises will be passed on in full by the banks….they will shave some off for their profits.

    • Yeh I’m working next year not the one after hence wait till July 1st

  • -1

    Aren't interest rates on the rise again?

    • +1

      yeh so best to wait a bit for better offers

      • +3

        The way inflation and price rises are happening, we would probably end up losing more if locked into into a cash form in a term deposit. Probably better off putting this in some kind of safer / less riskier investment and earn more than the interest rate.

        • +7

          So… Eneloops then?

      • Waiting is ok but there's a cost to doing so that you need to consider i.e. difference in return between what you're currently getting and what you could get - for the period you are waiting e.g. if interest rates are on the rise over next 12 months, you might end up waiting and waiting. Even though interest rates go up you put off investing because even better ones are expected "soon"…. and this keeps happening while people are predicting interest rates will go up…..

    • +2

      Interest rates are going up - so mortgage holders will be hit immediately, but savers will have to… wait!

  • For ref their Macquarie Savings Account at call rate is 0.95% for the first $250k.

    • AMP has 1.35%, and ING has the same for $100k max….AMP you just need to deposit at least $250 in the previous month to activate the bonus rate. The easiest of all these types of accounts….and if under 35 there are higher rates at some institutions.

      • which places offer better for <35?

        • BOQ future saver is 2%. Check Canstar for any others. I think Westpac it is under 30? Not sure. Check it out

  • +6

    So Mac Bank needs the cash to potentially pay the fines? 🤣🤣

  • +2

    lmao, 1.65%

    ummm, i'm going to throw my money in the market and be able to pull it out before 12 months if i have to.

    Australian Shares ASX average return performance

    1 year 11.0%

    5 years 9.0%

    10 years 10.0%

    20 years 8.7%

    30 years 9.4%

    • +1

      Why the negs? He’s absolutely correct.

      • +2

        People that are hodl 🎒 of fiat 💵 are 🧂 because they're getting 0️⃣ yields.

        They negs to bring everyone else down.

    • +2

      Always good to have some in cash

    • +3

      Your brave if you put everything in stocks, hope you don’t need some urgently and in a dip. I’d imagine the stock market is bloated like all f atm

      • +2

        You're locking your money in a term deposit anyway

        • you can break it

  • +8

    Official ABS response:
    The Consumer Price Index (CPI) rose 1.3% this quarter.
    Over the twelve months to the December 2021 quarter, the CPI rose 3.5%.
    The most significant price rises were for New dwelling purchase by owner-occupiers (+4.2%) and Automotive fuel (+6.6%).

    Ozbargainers that been to coles/woolies/aldi - real inflation probably double what is officially stated.

    That's my $0.02 … now worth 1 cent

    • +8

      Yeah official numbers are a joke and an insult to a normal person's intellect. The real numbers are way higher.

      • +2

        inflation is probably nearer to 15%, but theres an election coming up so better to lie right?

      • +3

        When you have a CommCar, Living Away From Home Allowance, travel allowances, Committee allowance, etc not to forget the use of the Parliamentary Prayer Room.. inflation doesn't really come into it.

    • +2

      my point being parking cash for 1.x% return when the cost of goods/services/ will increase +3%, you're going to lose out

      I personally rather cash out on overpriced asset classes (such as stock/shares/etc) to pay for inflated goods and services

      • what if you need to cash out on overpriced assets that have flash crashed, or how do you take advantage of future crashes if you have no cash. you need to stagger your purchases and thus this account for a short term place isnt a bad option.

        brave person to put every single $ in stocks etc.

        • -1

          Get into dividend paying stocks, or have exposure via high yield Vanguard ETF.. anything better than 1.x%. this lowers the risk and you get rewarded accordingly.

          Spec stocks that "might" 10 bagger or take you to zero? risk vs reward

  • +17

    You do realise that this means you are garunteed to lose money?

    CPI Inflation is over 3.5%+ (real inflation is closer to 15%)

    A return under 3.5% means you are losing real purchasing power.

    You will have less purchasing power in 12 months time.

    I can't spell it out any clearer.

    • +4

      100% correct !!!!

    • +3

      In all likelihood you're correct (not sure about real inflation being 15% though). However, if you have spare cash to invest then what's the alternative? If you invest in something that returns <1.65% then you're even worse off. Pre-paying your living costs for the next 12 months might be challenging……

      • -2

        If you invest in something that returns <1.65% then you're even worse off.

        Scared 💵 always lose no matter where they park their 💵.

      • Yeah it would depend a lot on how much money you have and what your goals are.

        For example: If you have a few thousand only, then living costs such as food prices are likely to rise much higher, you could stack some non-perishables, sell your car while the used car market is hot and buy something cheap & cheerful instead and save some money that way.

        If you have tens of thousands & a long term time frame (5-10yrs), then I would probably dollar cost average into the S&P/Nasdaq ETFs. This is a much better version of a savings account.

        If you have hundreds of thousands, then I would wait and do nothing right now. There is a highly likely chance that some kind of financial crisis happens again in the next 1-3 years. Once this happens, I would wait for the signal from the central banks/gov that they will begin new 'stimulus' packages, and then I would deploy hard into assets (Real estate, S&P/Nasdaq, Bitcoin… whatever you understand the best out of those)

        But I am no financial adviser so this is all just speculation on my end :)

        • The best time to buy is when everyone is expecting a crash.

          The best time to sell is when everyone is making gains.

          • @rektrading: Best time to buy is when you can make money!

            • @bean_counter: People won't know that they're making gains until it suddenly happens. They keep waiting for a crash thinking that it's the perfect entry.

              There is no such thing as a perfect entry or exit.

              I've been buying Bitcoin almost every day and twice as much on dips. I don't know where the bottom is and I don't care.

              I've a strong long term conviction that it will outperform every other asset class in the next 118Y.

              • @rektrading: "People won't know that they're making gains until it suddenly happens."

                Not sure what you mean - unless you're saying you don't make a profit until you actually sell. I own shares and most have them are well above what I paid for them i.e. I have am already gaining. In addition, I get fully franked dividends from each twice a year. For one of my shares I've received more in distributions than I originally paid for them i.e. already gaining even if the company goes broke.
                Each to their own but I won't touch Bitcoin. I don't understand why they have a value - other than people's willingness to buy (demand). If that evaporates then so does their value.

    • Yes so you put it all in stocks? No cash at all

  • +1

    Why would you put your cash in at such low rate and the inflation that we are going through and is about to get worse?

    • +1

      You'd do it if in your circumstances it was the best option. Getting 1.65% is better than getting <1.65%. It's obviously not for everyone but it might be an attractive option for some e.g. my bank is offering 0.25% for 12 months. If you had excess cash and wanted the cash in 12 months time for a particular reason e.g. part of deposit on house or waiting for new car prices to return to normality, waiting for a share market correction…..then what would you do with it now? YMMV……..

      • +1

        and keep in mind they pay 1.64% on monthly interest, so I would go for that.

        • yep better option u can bail out anytime and at worst lose 30 days interest

  • +3

    Remember this is a risk play. Yes, you’re losing money against inflation but maybe you don’t have the tolerance for share market fluctuations or other investment vehicles.

  • +1

    Stock markets around the world grossly inflated by funny money and will fall but when?
    Property market bubble
    Bank interest well below inflation.

    What to do? Lithium? Shares or for your bipolar disorder.

  • +2

    Interest Rate 1.65% p.a.


  • Or try the Finder app 4.01% and get extra $10 if you use a referal to sign up!

    • +1

      Pretty low for a stablecoin earn. If you’re going to take on the risk of a crypto platform and token, might as well make it worthwhile. I’m earning between 8 and 12.5% on my stables (USD for simplicity) on reputable centralised platforms.

      What’s appealing about Finder’s 4%?

      I don’t think people who are looking to utilise this Macquarie deal are interested in the risk of non-cash for that percentage of their portfolio.

      • +1

        TAUD doesn't have forex risk or CGT.

        • +1

          Yes sir, also the potential joyful capital loss on that forex…. But there just aren’t enough platforms that support our native currency to spread the risk enough for me due to the sums invested.

          But yes you’re right, people need to consider that (among a million other things).

    • Better off getting 8% at crypto.com if you’re going to stake TAUD.

      • Can you withdraw and transfer to AUD bank account within a few minutes?

        • +1

          With crypto.com you can get AUD on/off very quickly (PayID) but they have a $30k USD limit on the higher interest earn. After that it is halved.

          From memory, Wirex also do TAUD for 12.x% if you must stay in AUD.

      • A return of your investment is much more important than return on investment. Risk vs reward…

  • +2

    Inflation rose more than 26.5% relative to the price increase of local buffets in Sydney. How is this a deal?
    If I were to put $5000 in this term deposit for 18 years. I would not have enough money to pay for 1 budget buffet currently $38.

    • If you give me the $5,000 today, I'll buy you 5 budget buffets in 18 years time. :)

      • 8 year buffets

        • buffets are a scam, its like booking a hooker for 4 hours.
          you should put it on red and have two buffets

  • +8

    Lol seriously why are people negging this?

    Everyone on ozbargain is literally obsessed with throwing every penny they have at a stock market that has just had like the biggest bull run ever in the past 18 months. Like seriously people have to actually be joking about not understanding the concept of risk vs reward right?

    Like this is a risk free way of earning a small amount of interest on cash you want to keep as cash for whatever reason. If it's the best % rate you can get then it's a good deal. There's plenty of reasons you might want to keep an amount of your wealth in cash rather than drop it on stocks, like C'mon, not 100% of everyone's wealth can be put in an investment class that can fluctuate +/- 30% on any given year due to any possible number of reasons. Like if you really need your cash next year for something then it would be poor financial mgmt to go drop it all on stocks to try and grab a few extra % return that year geeze..

    • +1

      History shows that the SPX has 2x every time there has been a major crash.

      The risk of not being in the market is greater than being in the market.

      • +2

        Yeh but that's what I'm saying. If your time frame is 10+ years then of course (historically) you'll do far better than cash, literally no one disputes this. But market crashes exist, bear markets exist, they come and go. If you need your cash in the short term it's a wild gamble to throw it all on the market.

        What if you were sitting on a 200k deposit for a house in Jan 2020 and you wanted to buy within 6 months, you chucked it all on stocks and by July 2020 your 200k was worth like 120k. It has recovered 24 months later but you missed your window that you wanted to buy because you couldn't get your principal back because you were chasing an extra 4% that year.. Like c'mon.

        • What if you were sitting on a 200k deposit for a house in Jan 2020 and you wanted to buy within 6 months, you chucked it all on stocks and by July 2020 your 200k was worth like 120k.

          I wouldn't park $200,000 in stonks. I would park it in something with higher risk and higher yields.

      • +3

        so your saying if have 3 million in assets excluding my house i should whip the entire amount in there? or is it ok to keep maybe a paltry 250k in this account and if i have say a heart attack, stroke, car crash, lose my ability to work, or whatever i can at least use this?

        i think the amount i have in shares already covers the inflation part, and i'm ok to lose a little bit to hedge my bets.

        only a fool in my opinion has everything in shares and does not have a cash reserves

        • Your goals are not my goals.

          If you're happy to park $250,000 at +1.65% 1Y then that is your choice.

          I trade my time for 💵 and like my 💵 to work harder than me. I will take high risk, high gain and high yield over anything legacy banks can give which is guaranteed to lose its value.

      • and history showed Lismore never flooded twice in one month before 2022 but it happened.

    • Like this is a risk free way of earning a small amount of interest on cash you want to keep as cash for whatever reason.

      This "deal" is a term deposit. The bank owns the 💵 for 12M.

  • +2

    Thanks but I think I'll keep my spare $$ to offset against my home loan

  • +2

    People are seriously comparing investing in the stockmarket to a term deposit and proclaiming how much of a return you can achieve on stocks vs a freaking term deposit. Well duh. Two completely different products and use cases. Apples and oranges.

  • +2

    Now 1.85%, although the 1.84% paid quarterly pays the most interest in total (both 1 year term)

    Also FYI: As per the T&Cs, if you break before term they'll only pay 25% of the interest you were entitled to as at that date, so effectively it becomes 0.46% instead.

    • Also just called and phone rep said account opening timeframes are between 5-10 business days. If the rates rise within that time period, he said they'd call and ask if we wanted the higher rate (ahhh, duh).

  • +1

    Now 1.9%

  • Sounds good but I hate being tied down for one year . Amp is 1.35% . I wonder if other banks are going to compete ?

    • i think there will be some better bargains around the corner after the election

    • your not tied down for a year, you can do the rolling month one

      • I just rang up Macquarie and they said eg if I stayed with them 6 month out of the 12 months , I have to give 31 days notice to leave, and I will lose 25% interest paid in the last 6 months.

  • +1

    2.10% for 12 months now

    • +2


      but i think there will be some tasty bargains come June/july

      • Be funny when td are higher than fixed mortgages. Considering tax would need to be 3.5 percent

  • +1

    2.50% for 12 months now is getting very tempting

  • +3

    2.75% now…keep going….lol

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