Online savings account

| by RateCity Staff

Many Australians have an online savings account but there are still plenty who don't. For those who don't, it's usually a matter of finding the time or the inspiration to save, rather than not seeing the benefits.

Online savings accounts

An online saver, commonly known as an online savings account, is a terrific way to save you money and because they earn high interest, you will also get a great return on your investment. They are linked to your everyday debit account so you can set up an automatic savings plan to have your money transferred to your online saver regularly and without lifting a finger. An online saver helps you save for a goal and can also help you with a loan approval because many lenders expect evidence of a savings history. Setting up an online saver is very easy and there is no cost to open the account however some online savers may expect a minimum deposit.

Refer to our savings accounts guide for up-to-date information and the table to the right for a list of some of today's best online savings accounts.