I’m curious … Suppose if I have AUD$1 million sitting in my bank account. What’s the rate of interest I can get of that p/a (per annum)?
Fantastic way to make recurring monthly income!
If you’re interested, email/PM or click on my “WWW”.Depends on what sort of bank account you put it in, whether term deposits are acceptable, and how much risk you’re willing to take.
For at-call online savings accounts, the last time I looked the best rates were around 5.25%-5.4%, or 6% with BankWest for the first year. Term deposit rates probably higher if you don’t mind a longer term. And if you don’t mind more risk, you’ll see places advertising rates of up to 10%-12% – but these are not banks and the money is unsecured.
Take a look at the rates on Cannex:
GP
I currently have funds invested earning 9.5% p/a paid monthly. Reinvested, this amounts to say…10.5-11%.
I feel pretty secure with the group I am with (always room to doubt…ouch) because I have had previous investments released no problems.
Returning to the question at large…on $1m this would relate to your 1st monthly payment being $7,917. Yummee!
Next month…$7,979.
Next month…$8,042.
Lookin’ good hey? You figure it out.Richard Farleigh
FireCaesar
I’m intrigued by your question. If you have any experience of investments, you’d be aware of returns for different types of fixed interest accounts, and even if you aren’t you can easily find out. Care to elaborate on your thoughts?
Wes.
Wes,
I haven’t got any “real” experience with what we normally term as investments (shares, properties, etc). What gave you that idea?
Cheers!
Fantastic way to make recurring monthly income!
If you’re interested, email me. (You’ll be glad you did!)[angry2]Oh please, this is just advertising for your stupid pyramid scheme. Do you think we’re that stupid?
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FireCaesar
I suspected you have no experience based on your question, but had the feeling you were brewing something. The other poster is indicating a pyramid scheme. Be very careful if you are into anything like that. You will come a gutser. Maybe you are young and think you have found the Holy Grail. I can assure you, you haven’t, so think again.
Wes.
Checked out the link, FireCeasar.
Did not understand how it worked, the explanation was not exactly that clear.
I saw nothing that compelled me to give it a second thought. Can you give us some more detail as to how it works?
Wes, thanks for your concern. I’m very aware of such things (pyramids and similar). In fact, I’ve openly opposed pyramid systems back home and have educated ppl about such stuff. So to answer your question … Nope, I’m not in any sort of pyramid.
eeshole, it’s not appropriate to post more details of it here since this is largely a property related forum. If and only if you’re keen to know more, then let me know again (PM/email). Otherwise, simply ignore this.
Have an Inspired Day!
Fantastic way to make recurring monthly income!
If you’re interested, email me. (You’ll be glad you did!)Oh yes, just 1 more thing I’ll like to be clear about:
The ONLY reason I started this thread is for the very reason of the question and that is to find out what the typical bank IRs for amounts as such.
Fantastic way to make recurring monthly income!
If you’re interested, email me. (You’ll be glad you did!)
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