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ING Direct

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Papa G said:
AMP has an Easysaver account which has a standard rate of 6.05 with the rate being 6.8 over the first 6 months. Works pretty much the same as the ING Direct account - all web based.
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That 6.8% rate is no longer in effect and has not been for quite some time now.
 
johnnyhoward said:
A bloke I worked with was looking at opening an ING savings account because he heard they have the best interest rates, which is true. Get this - the thing that stopped him was that he apparently heard ING stands for "IndoNesian Government". I asked him if he was sure, as I had an account with them and I was pretty sure they were Dutch. He said "I'm certain - I wouldn't trust them - you know how the relations between Australia and Indonesia are". I tried to hint at the truth to him but I just went back to my office and had a laugh.
.
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ING actually stands for Israeli Nazi Governement, its a slush fund for the rise of a Nazi Government in Israel:thumbsu:
 
bunsen burner said:
ING. There's another couple of products /banks with the same service but they're pretty much a muchness.

- ING is dutch. Multinational. Will not go bust. Safe as houses.
- Current rate is 6%. No fees.
- They make their money because they have little overheads (ie no branches). They pay top tier rates and have no fees.
- Link an ING account to your account that your pay goes into. Tfr money over every fortnight
- ING is secure over the internet
- There are also no conditions and fees. None of this CBA "we'll give you 4.5% provided you don't make any withdrawal except for the roll over day (1 day per month), if you do need to withdraw for an emergency then we'll giver you 2% for the month".

ING rocks man!
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What he said. ING is like getting money for free. I love it.
 

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CUA 6.15% 5k minimum. E-saver. No fees. etc..... But must transfer over internet.:thumbsu:
http://www.cua.com.au/web/cua.nsf/docindex/interest+rates->interest+rates?opendocument
 
nut said:
CUA 6.15% 5k minimum. E-saver. No fees. etc..... But must transfer over internet.:thumbsu:
http://www.cua.com.au/web/cua.nsf/docindex/interest+rates->interest+rates?opendocument
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Why do people keep bringing up inferior products?

BankWest. 6.8%. No minimum. No fees. No better rate available anywhere.

Can this be simplified further?
 
there is actually better than ING... the great thing about ING is you can tie it up to a bank account, and get your money in 24-48 hours each way.

others that offer higher interest rates (more down the privatised line) hold onto your dosh for a specified amount of time.

herald sun finance section has few that are advertised in there every now and again, the return is about 8-11% depending on time, etc...

my advice for anyone looking to put away money is to talk to a financial advisor... they'll set you straight!
 
Those "higher interest rates" are term deposits where they pay you interest, but hold onto your capital. If you just leave your money sitting in ING or BankWest and don't transfer between your everyday account, you may as well get an extra couple of percent with a term deposit.
 
Paul. said:
there is actually better than ING... the great thing about ING is you can tie it up to a bank account, and get your money in 24-48 hours each way.

others that offer higher interest rates (more down the privatised line) hold onto your dosh for a specified amount of time.

herald sun finance section has few that are advertised in there every now and again, the return is about 8-11% depending on time, etc...

my advice for anyone looking to put away money is to talk to a financial advisor... they'll set you straight!
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If you see an 8 - 11% 'guaranteed' interest rate, run a mile. What these are are debt securities with no real asset backing. If the borrowers (often high risk hence not being able to borrow from a bank at lower rates) go belly up, you will do your dough. Westpoint and Fincorp are two of the most publicised examples of this, and there will no doubt be more to come in the future.
 

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Fincorp Update 30 March 2007
KordaMentha today estimated that secured note holders in the Fincorp Group of Companies should
receive a minimum 30 cents in the dollar on their investments.
Unsecured note holders (Most Fincorp investors) and other unsecured creditors were unlikely to receive any return.
 

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