Savings Accounts Articles

Relevant Savings Accounts articles and tips

Alex Ritchie

Personal Finance Editor

How much faster can you save for a home deposit with a higher cash rate?

Could first home buyers save a home faster in a higher cash rate environment? Ordinarily yes, but there are external factors at play right now that will impact the time it takes to save for a deposit.

Savings Accounts

18 Jul, 2022

5 min read

How much faster can you save for a home deposit with a higher cash rate?

Jodie Humphries

Personal Finance Editor

What is the Parenting Payment and how can it help me?

Eligible parents struggling to meet costs related to child-raising can apply for Government support in the form of the Parenting Payment and Family Tax Benefit.

Savings Accounts

02 Jun, 2022

4 min read

What is the Parenting Payment and how can it help me?

Vidhu Bajaj

Personal Finance Writer

Automate your savings with an automatic savings account

Do you notice your fortnightly car repayments, iphone bill or charity contributions when they are direct debited from your account? Based on the same concept as direct debiting, setting up an automatic savings plan can help you to save more and help you reach your financial goals sooner.

Savings Accounts

02 May, 2022

7 min read

Automate your savings with an automatic savings account

Jodie Humphries

Personal Finance Editor

What are the different types of interest?

Depending on the financial product, you could be paid or charged either simple interest or compound interest. Ask your bank about how interest is calculated on your accounts.

Savings Accounts

23 Mar, 2022

3 min read

What are the different types of interest?

Jodie Humphries

Personal Finance Editor

What to look for in a multi-currency account

If you’re looking to travel overseas in the future or trade in foreign cash, you may be interested in an account where you can keep multiple currencies in one place. Several financial institutions offer foreign currency or multi-currency accounts with affordable fees. Read on to know more about these accounts.

Savings Accounts

29 Apr, 2021

3 min read

What to look for in a multi-currency account

Jodie Humphries

Personal Finance Editor

What are the pros and cons of a savings account?

Want to open a savings account but not sure if it’s the right financial decision? It may be worth weighing up the pros and cons of having a savings account to help you decide.

Savings Accounts

19 Apr, 2021

5 min read

What are the pros and cons of a savings account?

Jodie Humphries

Personal Finance Editor

Tax on Interest Earned: How much do you pay? | RateCity

You need to add the interest earned from your savings account to the income you declare on your tax return and pay tax on the total.

Savings Accounts

16 Feb, 2021

4 min read

Tax on Interest Earned: How much do you pay? | RateCity

Jodie Humphries

Personal Finance Editor

Get better interest rates: variable savings accounts vs term deposits

Variable savings accounts or term deposits, which will provide the highest return on your savings? Learn more about both to make an informed decision.

Savings Accounts

02 Feb, 2021

3 min read

Get better interest rates: variable savings accounts vs term deposits

Jodie Humphries

Personal Finance Editor

What is withholding tax on a savings account?

If you earn interest on your savings, it may be taxable, just like your wages. Your bank may withhold - or deduct - tax when paying out your interest.

Savings Accounts

29 Jan, 2021

5 min read

What is withholding tax on a savings account?

Jodie Humphries

Personal Finance Editor

What are ethical savings accounts?

Ethical savings accounts are growing in popularity in Australia, as more people make an active choice to bank with financial institutions that align with their values. So, is it time for you to make the switch to an ethical savings account?

Savings Accounts

27 Jan, 2021

5 min read

Jodie Humphries

Personal Finance Editor

Can I open a savings account for my grandchild?

Can grandparents set up savings accounts for grandchildren? Most banks and credit unions in Australia allow this in some way or another. Here’s what you need to know about opening a savings account for a grandchild.

Savings Accounts

26 Jan, 2021

4 min read

Can I open a savings account for my grandchild?

Jodie Humphries

Personal Finance Editor

Can you transfer money from your credit card to a savings account?

Can I transfer money from a credit card to a savings account? Yes, it’s possible to make a money transfer from your credit card to a bank account, but do note, you'll probably have to pay higher fees and interest.

Savings Accounts

25 Jan, 2021

4 min read