Australian CD Rates

There are several reasons why a person would wish to know the Australian CD rates. One of which is if a person is planning on visiting or setting up a business in Australia. This could help in the liquidity of your funds in a country that would reduce your transaction costs. The other is the possibility of better CD rates and or currency rates that could net you more from your investment.

Investing in an Australian CD can occur in two different ways. You can purchase one through a US bank that offers them, like EverBank, or make a direct purchase from an Australian bank.

At the present time, EverBank offers 4 different currency CDs from Australia. The 3 month CD has an interest rate of 2.50% with an APY of 2.25%. The 6 month CD has an interest rate of 2.75% and an APY of 2.77%. The 9 month CD has an interest rate of 3.25% with an APY of 3.26%. The 12 month CD has an interest rate of 3.75% and an APY of 3.75%.

The minimum to invest in one of these CDs is $10,000. The investment is insured by the FDIC against insolvency only. If the exchange rate changes in favor of the US dollar too dramatically, some of the principal could be lost. There are also no monthly account fees that would hamper your profits. These rates were posted on April 30, 2010 and were still current as of may 3, 2010.

Acquiring a CD directly from an Australian bank is more complicated, but is possible. The Commonwealth Bank of Australia has good rates in Australian dollars. They offer a 60 month CD with an interest rate of 7.00% that is paid annually. This is for deposits of $10,000 to $50,000 Australian dollars.

The Australian CD rates look good but only pay out annually and are in a different currency where value fluctuations can occur.

For additional resources about CD’s on this website about another state please view Best CD Rates in Kentucky.

The SmartyPig Savings Account Rates 2.15% is available on our sister website of onlinebanksblog.com. Also available on the sister site of bankcdratesonline.com is Best Bank CD Rates.

We strive to bring you the latest and most accurate data possible from the home sites of the financial institutions we name. Always remember the bigger the risk, the larger the reward or loss. Invest with caution.

Tags: Australian, bank cd rates, Best CD Rates, CD rates, investing, money

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