Interest Rates

**vikkiann** · 27-01-2011, 04:20 PM

Hi all

As always when i look for advice i turn to PIA.

We are debating and i'm hoping that someone can help me as to whether or not to transfer our money or leave it in UK.

With the exchange at around 1.60 and has been for a while, can someone please advise as to what the interest rate is in Adelaide for savings?

Just trying to weigh up our options.

Thanks guys

**Tyke** · 27-01-2011, 10:06 PM

Savings rates are good.
Depends how long / access and so on.

An ordinary savings account with instant access of ours 5.15% (with BankSA)

Term deposits can be up to 7%

This can take a lot of the pain of the rate away

**vikkiann** · 28-01-2011, 08:10 AM

Thanks Tyke.
That makes the exchange rate a bit more bearable!

**Selah** · 28-01-2011, 08:16 AM

Originally Posted by vikkiann

Hi all

As always when i look for advice i turn to PIA.

We are debating and i'm hoping that someone can help me as to whether or not to transfer our money or leave it in UK.

With the exchange at around 1.60 and has been for a while, can someone please advise as to what the interest rate is in Adelaide for savings?

Just trying to weigh up our options.

Thanks guys

It's a hard decision but the best advice I received from my Father in law (having gone back and fourth 4 times for family reasons) was that you make the exchange when you need the money and don't look back. We came over in November 2009 when there had been a pretty rapid drop from the $2.20 to about $1.80. We left it in UK and it continued to drop - popped back up and we took it in June 2010 at $1.76. The difference between us exchanging and saving in Nov 09 and June 10 was the difference of a $25K swimming pool that I DON'T have. Wish I had brought it right away and saved.