BankWest and Ubank top the charts for depositors
Share markets have lost 30 per cent this year, property markets are down between 5 and 10 per cent while antiques have lost 50 per cent over the last decade. Investors are searching for safe havens for their cash. BankWest's online savings account is paying 8.1 per cent, while AMP and ING are both paying 8 per cent. NAB's UBank is paying 8.5 per cent on a 3 month term deposit, while BankWest and Adelaide Bank are both paying 8 per cent on 12 month term deposits. Other safe haven investments are also paying well. Gold is up 17 per cent over the last 12 months, Diamonds are up 238 per cent while art has been gaining 10 per cent per year for the last decade.
Source: Herald Sun