Where to (temporarily) park deposit money?

[Samwise]

Quickie:

Just sold PPoR, looking for another... wondering where to park our deposit money (coupla hundred grand) so that it earns a bit of interest in the meantime? Any recommendations for savings accounts? Got as far as ANZ and Bankwest so far...

May need to access at any time so not interested in fixed term bonds.

Cheers, Sam

 

[Television]

Ubank - 6%, 6.5% if you deposit $100 a week or something, backed by NAB.

$541 interest/month on 100k

 

[Mick C]

Most of the major bank gives a 5-6% rate on their "internet/ netbank" products.
SO i say go with the bank your most likely going to take up the new loan with- it just makes it easier.

 

[wobbycarly]

http://www.infochoice.com.au/banking/savings-account/online-savings.aspx

Looks like citibank might be a better option as you get nearly the same interest rate, but don't seem to need a "savings plan".

Whoops: just noticed that rate is only a 6 month offer.

 

[Samwise]

Good suggestions, ta

 

[Samwise]

Most of the major bank gives a 5-6% rate on their "internet/ netbank" products.
SO i say go with the bank your most likely going to take up the new loan with- it just makes it easier.

Good idea - likely to want to retain a Bankwest account so we'll do that (TeleNet saver 6.15%)

 

[RumpledElf]

Virgin has a very high interest account but only for the first 4 months. We've got our deposit parked in there, when it pops its 5.something so there's better places after the initial period.

 

[norwoodman]

With ANZ, their Online Saver accounts are currently earning interest at 6.25% pa if you are looking there. That will probably change in a few months though.