Nov
It has been difficult for us to save money in savings accounts. Interest rates on every savings account have reduced. But there is a hope.. an instrument of savings which offer you best rates on your savings.
If you have been looking for best savings rates I suggest you go for a fixed rate bond. It is great when it comes to best and top interest rate but it has one down side that is your funds are no more in your control and are tied for a fixed period. You can use those fund until that bond matures.
You need some homework and discipline and make sure that you have funds for your emergency cash needs, and invest only the funds which are spare and you can leave them in fixed bond account without any need to withdraw those funds.
So you get benefit of best savings rates but you also get disadvantage of forgoing your right to use those monies for a fixed period say year or more.
