Any compelling reason NOT to use ING term?
- Thread starter Sunfish
- Start date
SF
I haven't checked on insurance plans lately but 12 months ago when I checked they had the best deal (for my age).
There is a website where you can compare plans and prices fromvarious insurers online.
You can tick various options and see the impact on premiums
http://www.insurancewatch.com.au/onlinequote.htm
Nope. I find the top (compounded) rate via infochoice.com.au, then negotiate with my credit union to come within a hair of that.
So far ING isn't sitting on any of my TD's.
Sorry BV (which one?) I was talking term deposit, not term insurance.
Sorry I misunderstood I'm not into term deposits so I can't help.
I don't know which ING term plan I'm on and I'm overseas atm so I can't check the contract papers
My main TDs at the moment are with ING and RaboDirect (both business rather than personal).
I just choose the best rate for the period I want from amongst the few banks I can easily do TDs with online (ie. those I've already done the 100 point ID thing with and allow quick online setup without any paperwork). Currently that includes NAB, ING, BankWest, and RaboDirect. My wife also does personal ones with CBA, WBC, and St George (she doesn't mind going into branches). While we may not get the very top rate with them, usually at least one of them is close enough that the difference in interest is not that significant (we rarely do TDs for longer than 12 months).
GP
I just choose the best rate for the period I want from amongst the few banks I can easily do TDs with online (ie. those I've already done the 100 point ID thing with and allow quick online setup without any paperwork). Currently that includes NAB, ING, BankWest, and RaboDirect. My wife also does personal ones with CBA, WBC, and St George (she doesn't mind going into branches). While we may not get the very top rate with them, usually at least one of them is close enough that the difference in interest is not that significant (we rarely do TDs for longer than 12 months).
GP
Sorry BV (which one?) I was talking term deposit, not term insurance.
Sorry SF;
I didn't read the thread question correctly; I was referring to the savings account.
Sunfish
Personally I would be wanting my money in an Oz bank or credit union.
When does the government guarantee run out?
Anyway....
I was depositing some SMSF funds and I was tempted to open a new account elsewhere as could get 6.25% for 6 months - the credit union matched this rate.
BTW
We still have funds frozen in mortgage account - we have been able to get a distribution of 10% a few times + interest. The mortgage account has been earning a good interest rate must be close to 7% now.
Cheers
Sheryn
Personally I would be wanting my money in an Oz bank or credit union.
When does the government guarantee run out?
Anyway....
I was depositing some SMSF funds and I was tempted to open a new account elsewhere as could get 6.25% for 6 months - the credit union matched this rate.
BTW
We still have funds frozen in mortgage account - we have been able to get a distribution of 10% a few times + interest. The mortgage account has been earning a good interest rate must be close to 7% now.
Cheers
Sheryn
Mrs Fish doesn't like/trust puter banks, LOCs etc, an old fashioned country girl you might say. She is also pragmatic and doesn't like my sedentary lifestyle, blood pressure or drinking habits so wants "immediate" access to ample funds when the inevitable happens. I have adequate gold/silver to support us through a prolonged "bank holiday" but that aint "immediate".
Percentage wise it is three fifths of five eights of bugger all. What we want is knowledge that it will be there when needed. It isn't part of my investment strategy so the very highest rate isn't the most important thing.
I found difficulty opening ING Direct with a trust/corp trustee. No issues with Raboplus.
Not sure if things have changed.
The Y-man
Mrs Fish sounds quite intelligent, especially with the rates on offer. Not bad in a world of such uncertainty.
One might argue that for the first time in years, people are actually being compensated for having a 'boring term deposit', at least in australia where the banks actually 'want' your money.
One might argue that for the first time in years, people are actually being compensated for having a 'boring term deposit', at least in australia where the banks actually 'want' your money.
Do you mean TDs specifically, or cash generally?
I'm not sure what percentage is specifically in TDs, without working it out, but excluding our PPOR, I'm pretty much all cash at the moment.
GP
I have one such account and don't recall any particular issues. Opening any bank account is a PITA though.
GP
You might want to consider the option of investing the funds elsewhere and taking out a life insurance policy.
The income from the investments could potentially pay for the policy and at the same time you get capital growth in the investment.
If something happens to you Mrs Sun still gets her cash and you don't put your money into what's probably one of the worst performing asset classes.
Note that I say this without knowing a thing about your personal circumstances, I'm just trying to give consideration to other alternatives.
The income from the investments could potentially pay for the policy and at the same time you get capital growth in the investment.
If something happens to you Mrs Sun still gets her cash and you don't put your money into what's probably one of the worst performing asset classes.
Note that I say this without knowing a thing about your personal circumstances, I'm just trying to give consideration to other alternatives.
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