Interest Rates at Banks:

How much you have?

I work for a bank, u an ausfag. Yeha defs call them up go to the branch and have a go in some recumstances bank go give out special rates but it would come with a term deposit type of aggreement.

I would recommend buying an etf, bond of blue cap stock instead of parking money at the bank. Whatever rates your getting at the bank thier making more off your money.

>>1648008
Unless you're lending out tens of thousands of dollars, probably not. Banks only offer the bare minimum for the little old ladies that were taught all their life that frugal living and hard work would pay off. If they didn't, the little old ladies might actually shop around and find better options.

Savings accounts are only slightly more profitable than stuffing your cash in a mattress. You can't make profit without risk; if you're not willing to take on risk then don't expect huge returns.

>>1648017
the "fairly large amount" is for a young /biz/ poster , its somewhere between 20k and 100k.

Yeah im an ausfag. I have a feeling they will give me a special rate, I'm just not sure how to get it. I was thinking of going to my local branch and asking one of the branch ladies for a better rate or to speak to the branch manager about one (from memory she advised this was possible last time I visited a branch a number of months ago).

I'm fine with a term deposit type deal.

>I would recommend buying an etf, bond of blue cap stock instead of parking money at the bank.

This is the type of stuff I would like to do, I simply dont know enough about it to confidently do it yet. For example what is blue cap stock? And how would you recommend to learn about it (info from the banks themselves, reading some books, websites, videos, etc.) ?

Aus banker here, most banks won't quote special rates for amounts under 250k. It will also have to be locked in a term deposit.

>>1648090
>most banks
which ones

i'm not with one of the big four (though one of the big four is the parent company)

>>1648090
>won't quote special rates for amounts under 250k
so they wouldn't take my amount listed in the post above then? I'm not looking for a huge rate increase, even 0.5% to 1% increase would be enough.

I'm okay with it being locked in a term deposit.

What would you recommend I do as an alternative to the bank (as if I was a friend, not a client)?
Something similar to what >>1648017 said?

>>1648008
You can offshore it for better interest. Its legal as long as you declare it. Mongols pay 6.5% on dollar deposits and the account is like 11 dollars to open. Read note about it. Some dude from hermit capitalist or nomad smth writes a lot about this

>>1648095
I say most because I'm not sure specifically who would, but 90% of the time they won't touch anything under 200-250k. That being said, the most the quoted rates will move is .05%.

I'm only young as well and work in lending not investment banking. Me personally, I would research into stock market trading as there are plenty of 'safe' stocks that offer better returns than banks. However, if you're happy playing it safe, open a account with one of the online banks eg. MeBank, Ubank and so on. They offer better rates due to their low costs.