Save now for maximum payoff

Save now for maximum payoff

12 March 2008

If you are finding the stock market too volatile at the moment for your tastes, now is a good time to put your spare funds into a high interest savings account for definite returns.

Rising interest rates may be bad for those borrowing money, but it means great things for those wanting easy returns. With some banks offering accounts providing as much as 7.15% p.a. on savings and paying interest into your account monthly, you'll experience a decent payoff for the bare minimum of effort. What's more, this strategy will protect your past stock gains until you can invest again in surer market conditions.

For those who want to wait until interest rates are lower again to invest in property, savings now will give you a sizable deposit amount for when you do enter the property market. If you save $10000 a year for 5 years at 6% p.a. you could have upwards of $55000 at the end, a reasonable deposit for many lenders.

For more information on excellent savings accounts, please browse our site.

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