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Cash trusts close, accounts open

21/07/2010

Many investors with money in cash management trusts are choosing to move to online cash management accounts and savings accounts. In April investors in Macquarie Bank’s cash management account voted to convert their holdings to an at-call cash management account.

La Trobe Cash Management account is the highest yielding cash management trust currently paying 6.2 per cent. The next best return available is from Maitland Mutual with 4.48 per cent. The best rate from an online account is UBank’s 6.51 per cent. The 12 month best term deposit rate is currently 6.4 per cent from Rabo.

Source: The Australian



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Institution Product Max. Rate (%) Details
USaver (Base Rate 5.41%, Bonus 0.60% with savings plan) 6.01 Details
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