Citibank has just increased their term deposit rate (Interest paid at maturity):
| Fixed Term | Interest rate |
|---|---|
| 3 months | 1.65% p.a. |
| 6 months | 2.50% p.a. |
| 9 months | 2.75% p.a. |
| 12 months | 3.30% p.a. |
| 18 months | 3.30% p.a. |
| 24 months | 3.30% p.a. |
Note: Citibank Australia is now owned by NAB
NAB is offering a barely higher interest rate with their term deposit than NAB's savings account. What is NAB thinking? Well, I guess both are still better than NAB's own offerings.
NAB are keeping their base brand for the "traditional" folk who want the institutional familiarity. They get ripped off and consider it "safer". NAB has UBank/86400 and now Citibank for those who jump products to chase the best deals and don't care for brand loyalty.
better than the rates at macquarie posted just a few days ago: https://www.ozbargain.com.au/node/711671
still, why do this when you can put money into ING savings for 2.6% right now: https://www.ing.com.au/
I prefer ubank or amp with slightly lower rates than ing. Ing is good if you are not using credit card and making regular purchases from a transaction account.
After Wednesday's unemployment figures, I'm expecting another 50 points hike next month. And at least one more in the month afterwards. This isn't the time to lock your cash away.
75 basis points. You "heard" it here first.
I guess this time will be more than 50 points such as 0.75% or 1%
Not sure if worth doing term deposit unless you get an amazing rate at the moment, in 3 months the instant access rates could be 1.5% more than they are now.
I vaguely remember money
All I've seen are numbers in this thing called an account and numbers out.
I just see numbers out
Not worth it you'll most likely getting around 2.5% for regular saving account in two months
Can't tell if these are deals anymore with the way interest rates are going.