Thread: Banks and interest rates

If I understand things correctly I can apply for an investors visa by paying $300,000 into the country.

If for example I paid $200,000 for a property I would have to put $100,000 into a Bank for 3 yrs.

I saw on this forum that Bank interest rates are around 5 - 6% so would I be correct in saying I would receive $416pm (at 5% pa) which I can then withdraw tax free?

Compared to the UK it seems to good to be true.

Originally Posted by growler

If I understand things correctly I can apply for an investors visa by paying $300,000 into the country.

If for example I paid $200,000 for a property I would have to put $100,000 into a Bank for 3 yrs.

I saw on this forum that Bank interest rates are around 5 - 6% so would I be correct in saying I would receive $416pm (at 5% pa) which I can then withdraw tax free?

Compared to the UK it seems to good to be true.

Correct .

Hi Hosem1 you say "correct"....is that "correct" in what i say or "correct" in it seems to good to be true? Just clarifying.

Correct in what you say. They really pay high interest rates.

Thanks for that.