Maximising interest with flexibility

Discussion in 'Money Management & Banking' started by captaint, 4th Feb, 2015.

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  1. captaint

    captaint New Member

    Joined:
    1st Jul, 2015
    Posts:
    1
    Location:
    Victoria
    Hi All,

    We're expecting our second child so are now selling our home to upsize.

    We haven't bought yet so may rent for anywhere between 2 ? 12 months while we look to purchase. We will have a large amount of money (approx. $700,000) to invest in the mean time from the sale of our house.

    As a result we're looking to maximise the interest on this money (to cover as much rent as possible) but need the flexibility to draw on it once we find the ideal home.

    Is a high interest online bank account the best option for this short period? If it is, are there any you'd recommend?

    Thanks in advance!
     
    captaint, 4th Feb, 2015
    #1
  2. Johny_come_lately

    Johny_come_lately Well-Known Member

    Joined:
    1st Jul, 2015
    Posts:
    566
    Location:
    SE Queensland
    Hi Captaint,

    You could try Beta Shares cash ETF. (AAA.AX) This exchange traded fund gives you term deposit rates while being cashable daily with (T+3) days to be credited back to your bank account.


    Johny. :)
     
    Johny_come_lately, 4th Feb, 2015
    #2
  3. Christianrenel

    Christianrenel Active Member

    Joined:
    1st Jul, 2015
    Posts:
    27
    Location:
    Sydney
    AAA shares

    Hi Captiant,

    I have purchased the AAA Exchange traded Fund in the past, the ETF pays interest monthly, and the current return is around the 3% mark. This is line with current Term Deposits Rate issued by the banks.

    You also have the flexibility of the capital, where this can be sold at anytime into the future.


    Kind Regards

    Christianrenel


    [email protected]
     
    Christianrenel, 5th Feb, 2015
    #3