Has anyone started or checked out the First Home Saver Accounts that Rudd rolled out in 2008.Steve mentioned it on a thread on 14/05/2008 ,but no comments.I know it hasn't been popular,just checked out ME banks account out for my 19yr old uni son.They're offering 6.25% no fees at all and tax payable on the interest component is paid by the provider.Fed Gov't tips in 17%.It seems to work like a term deposit with a regular savings plan attached.I thought it was over 4yrs but after a sunday mail article and pouring over the PDS it can be done over 2yrs 1wk min.When you buy house must live in it as PPOR for 6mths within 12month period of ownership same as FHOG.Any + or – thoughts appreciated.Al
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