When the RBA raised cash rates in early November the major banks increased their savings account interest rates by the same amount but their home loan rates by much more. We show you where you can find a much higher savings accounts from other banks.
The big 4 Australian banks despite other banks around the world doing it tough due to the GFC, are claiming the cost of wholesale borrowings are getting more expensive and they need to pass this on. According to the Federal Treasurer and the opposition shadow Treasurer this is not true.
Financial literacy is a very important issue for anyone and it pays to start young. Smart parents can start their children off on the right path by introducing their children to banking at an early age by signing up for a Childrens Bank Account. Most banks offer special bank accounts specifically for children. A few of them even have special websites to help the education process.
Are you making regular deposits into a savings account? You might be interested then in finding out which bank products offer an incentive to regular savers. There are quite a few financial institutions that offer savings accounts with incentives to make regular monthly deposits however not all offer much in terms of a bonus. Read more to find those that do.
With the increase in official cash rates by the RBA of 0.25% you would expect that the savings accounts offered by the banks would also follow suit. Suprisingly you would be wrong.
If you’re thinking about saving up for a deposit on your first home then you should consider the government incentivised (FHSAs).
Citibank and Bankwest has upped the interest rate on their main savings account products. Citibank is now offering 5.71% for the first 6 months for new accounts whilst Bankwest has increased the introductory promotional interest rate on its TeleNet Saver account to match UBank USaver account’s 5.62%. The Citibank Online Saver has a standard interest […]