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SMSF Savings Account Interest Rate Update

Usually the banks pass on interest rate rises to their various savings accounts within a few days of the RBA rate rise, however due to the turbulence created by the CBA increasing their home loan rates by 0.45% compared to the RBA 0.25% most of the other banks have held back before releasing their rate increases. Finally all the rate rises are in.

The following table shows the rate increases for Australian banks whom have an indentifiable high interest savings account suitable for Self Managed Super Funds (DIY Super).

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Citibank vs HSBC

Two of the world’s largest banking groups, Citibank and HSBC, have Australian offshoots and specialise in cross border banking services. We compare what banking facilities they have to offer Aussies who are playing, home or away.

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