Hi
I gotta put down a 40k deposit
Deposit bond is off the table as not enough equity in other property.
Bank guarantee is an option:
Bank gave me these figures on bank guarantee:
250 est. fee
1.25% pre payable fee every 6 months
Term deposit interest rate:3.75%
Making the numbers, after 18 months, the total fees are higher than interest earned, after tax...better off just paying cash...am I missing something ? Are the fees on the bank guarantee tax deductible ?
Thanks
a.
I gotta put down a 40k deposit
Deposit bond is off the table as not enough equity in other property.
Bank guarantee is an option:
Bank gave me these figures on bank guarantee:
250 est. fee
1.25% pre payable fee every 6 months
Term deposit interest rate:3.75%
Making the numbers, after 18 months, the total fees are higher than interest earned, after tax...better off just paying cash...am I missing something ? Are the fees on the bank guarantee tax deductible ?
Thanks
a.