Investment loan 100% offset a/c vs. high interest savings a/c

[JIT]

Hi there,

Which is better, putting 50k cash in a 100% offset account, that is against an investment loan (ie. deductible debt), or putting the same 50k in a high interest savings a/c?

The interest on the loan in 6.69% pa.

The savings a/c interest is 6.15% pa (variable rate) for 12 months.

What if the offset a/c is only ''40% offset''? (this is with Bankwest on a fixed rate loan)

Thanks for the advice.

 

[wokka1]

This same question was asked only a couple of days ago. Try the search function or recent posts and it should turn up

Wokka. (amateur)

edit in...try this http://www.somersoft.com/forums/showthread.php?t=62442

 

[JIT]

Thanks wokka,

That thread was useful, and what I suspected for my scenario in that the high interest savings a/c is better, as I only have a 40% offset a/c against tax-deductible debt.

 

[wokka1]

Ouch...40% offset. The example in the other thread was using 100% and it was a near thing.