Non risk Deposit

[macca446]

Hi all,
Asking if anyone knows a safe only term deposit with a good return or other type of investment as my daughter has 20K saved and wants to park it in a non risk investment class. thanks.

Macca446

 

[D.T.]

Send it to me and I'll use it as a house deposit. The house will have 5% growth pa and 8% yield pa.

Its safe as houses.

 

[macca446]

Send it to me and I'll use it as a house deposit. The house will have 5% growth pa and 8% yield pa.

Its safe as houses.

Funny Dave I kind of expected somebody to post that lol

 

[Terry_w]

Hi all,
Asking if anyone knows a safe only term deposit with a good return or other type of investment as my daughter has 20K saved and wants to park it in a non risk investment class. thanks.

Macca446

Non risk? Doesn't exist. Even bank accounts have risk.

 

[Macca]

Term deposit with a government guaranteed financial institution would be the safest I suppose, bank, building society or credit union are the obvious ones.

Nothing is totally safe but I would call them the safest in Australia and it is simple to create and available on maturity, unless she wants something at call, which would still be safest in one of these places.

 

[zimby]

Baseball Cards?

 

[westminster]

Hi all,
Asking if anyone knows a safe only term deposit with a good return or other type of investment as my daughter has 20K saved and wants to park it in a non risk investment class. thanks.

Macca446

A simple term deposite at a major bank would do this but the returns aren't great at around 2-3%
Is she continuing to save? If she is then it might be best putting it into a savings reward account that has bonus interest - some are around 4-5%

 

[Terry_w]

The risk of losing the money in an account with a bank is very low but there is also the risk of not keeping pace with inflation.

 

[Fifth]

Baseball Cards?

Too risky, I prefer emus.

 

[DaveM]

I have a forest of pine trees you can have for a downpayment of $20k

 

[Bandita]

What about opening an online savings account like the ING Savings maximiser account? It's currently 4% for the first 4 months. She can pull the money out anytime, after 4 months at 4% then it reverts to 2.75% + 0.5%pa (3.25%) if she increases her balance by $200 per month.

 

[Scott No Mates]

Macca, online accounts with an Australian bank will offer the advantages that you are after and as outlined by others. Risk is very low as the Australian banking industry is highly regulated & robust.

 

[roe]

Pick one of these institution

http://www.guaranteescheme.gov.au/guaranteed-liabilities/

Generally if you have an Australian Banking License you are covered even foreign bank operate here as long as they got banking License.

beware of institution offer high rate but they don't have banking license, most of these look and feel like a bank but they are not ... a few blow up since GFC

 

[twodogs]

Hi all,
Asking if anyone knows a safe only term deposit with a good return or other type of investment as my daughter has 20K saved and wants to park it in a non risk investment class. thanks.

Macca446

Biggest real risk may be your daughter, put it somewhere where she can't spend it! Term deposit meets that criteria, but after inflation and tax that looses money. Do you have private home loan with re-draw? How about she gives the money to you, you pay her the same rate as your loan, it's a great return, sort of tax free to her and safe as she can't get the money back without your permission....