Savings Account Rates Update

interest ratesFollowing the recent RBA increase of 0.25% for the official cash rate it’s time to see who has passed on the increase to their savings accounts.

The Good Guys

Citibank Online Saver is continuing to push for attention by keeping their rate just above their competitors – 5.88% up from 5.71%.

ING Direct Savings Maximiser seem to have locked horns with their main opposition UBank USaver as both have increased their rate to 5.85%, up from 5.60% and 5.62% respectively.

RaboPlus passed on the full increase with their Premium Saver account next with a creditable 5.75% up from 5.50%.

Suncorp eOptions have maintained their 12 month eOption sub account flexirate of 6.45% (read term deposit) with the ordinary rate up 0.25% to 4.25%.

The Bad Guys

The Big Four Banks a have all blown us a raspberry with no change as have Bankwest, HSBC and St George.

Click here to compare savings accounts.

Disclaimer: Rates can change daily. Many savings account providers only offer these high rates to new accounts or have other restrictions. Before taking any action please confirm all details including whether you qualify with the savings account provider.