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I just searched on http://www.infochoice.com.au/banking/savings-account/term-deposit-interest-rates.aspx http://www.infochoice.com.au/banking/savings-account/te
by femto 13y ago
I just searched on http://www.infochoice.com.au/banking/savings-account/term-deposit-interest-rates.aspx http://www.infochoice.com.au/banking/savings-account/term-de...
and it returned a 5% p.a. term deposit with RaboDirect for a 5 year term on amounts from $1000 to $2,000,000.
http://www.infochoice.com.au/banking/term-deposits/rabodirect/rabodirect-term-deposit/9102 http://www.infochoice.com.au/banking/term-deposits/rabodirec...
- willthames 13y agoI suspect the OP has USD, and that the RaboDirect account will be in AUD. Investing in AUD would be a bold investment approach, and certainly not risk free.
- femto 13y agoProbably! Interestingly, if I had $1m to invest and split it with my wife, with Australia's tax cutting in at 19c for each $1 over $18,200 up to $37,000, we would pay $2584. Since we have children, we qualify for a tax break called the family tax benefit [1], which would pay $13,773 per year. Total post-tax return would be $61,189. A yield of 6.12%, risk free! Now where did I put my million dollars? [1] http://www.humanservices.gov.au/customer/enablers/online-estimators http://www.humanservices.gov.au/customer/enablers/online-est...