# CBA Term Deposit



## OK2 (8 August 2008)

I received a call from the CBA today advising that to celebrate the 08/08/2008 that they had an offer on Term Deposits of 8.08% for 8 months paid monthly. Sounds reasonable and the caller also advised that their rates were going to fall next week. Is that to much information?


----------



## Julia (8 August 2008)

They're offering 8.20% for 12 months and 8.30% for 24 months.
If rates are indeed going to drop (and I'm surprised that they would suggest this prior to any official announcement) wouldn't you be better locking into one of the above if you are not going to need the money?


----------



## juw177 (8 August 2008)

RBA rates does not reflect the interest rates the banks charge and pay.

When banks are getting desperate for customers to keep their money with them, it means their reserves are running low and a sign of a looming recession. I read in the states, certain banks are calling up ex customers with a special deposit rate if they reopen their accounts.

Having said that, I hear Bankwest is offering a very competitive, if not the best term deposit rate at the moment though.


----------



## Struzball (8 August 2008)

why not 8.88% I wonder, that would be cooler.

8.08% is more like a celebration of August 08 in general, which isn't really even worth celebrating.


----------



## OK2 (8 August 2008)

I spoke with the bank again and they almost definately will be dropping term deposit rates early next week with a 1% drop on the cards depending on what you opt for.


----------



## Timmy (8 August 2008)

Give them a call on Dec. 12


----------



## derty (8 August 2008)

I found this site that compares the term deposit rates from what appears to be most Aussie banks. http://www.cannex.com.au/term-deposits/

There are a couple who are offering 6 months at 8.5% atm. Might look to stick a slab of the SMSF into one of these until the market settles down.


----------



## OK2 (8 August 2008)

Timmy said:


> Give them a call on Dec. 12




Good day Timmy,

I lost you there mate, can you expand on your quote?


----------



## OK2 (8 August 2008)

derty said:


> I found this site that compares the term deposit rates from what appears to be most Aussie banks. http://www.cannex.com.au/term-deposits/
> 
> There are a couple who are offering 6 months at 8.5% atm. Might look to stick a slab of the SMSF into one of these until the market settles down.





I had a quick look at the link you provided and was not to certain about investing with "Dnister Ukrainian Credit", you would have to be game to put your money there.


----------



## Timmy (8 August 2008)

OK2 said:


> Good day Timmy,
> 
> I lost you there mate, can you expand on your quote?




Ask them to give you 12.12% to celebrate Dec 12...


----------



## OK2 (8 August 2008)

Ok I get it but I think they may suggest waiting for the first of January for a truely special rate


----------



## Timmy (8 August 2008)

OK2 said:


> Ok I get it but I think they may suggest waiting for the first of January for a truely special rate





hahahahaha - I think you may well be right....


----------



## Tysonboss1 (8 August 2008)

...


----------

