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Plug your savings drain
Your hard-earned money can end up down the drain if you choose a savings account that is at odds with the way you bank. These days many purpose-designed deposit accounts are on the market, but choosing the wrong account can cost you dearly through transaction and account-keeping fees. Did you know that accounts exist with attractive interest rates but if you make just one transaction, you lose all interest for that month?
The best way of stopping the savings erosion is to split deposit accounts. Why not use a transaction account for day-to-day banking and combine it with a high-interest online savings account that might not allow for cheap transactions? At RateCity you can find the best deal for you by comparing different types of accounts designed to suit people that transact a little, a lot, online and through ATMS, or at the branch as well.
Online savings accounts are the hot topic at the moment and many institutions are actively marketing these products. Often, the high interest rates come with limited access and conditions attached - so look out for these details when you search at RateCity. There may be minimum balances required, or bonus interest if withdrawals are not made. Another penalty to be aware of is interest forfeited if a withdrawal is made. Online savings accounts can be rewarding if used properly but it is important to know the penalties for using the account in the wrong way.
Did you know you can search for 5 star rated Savings and Transactions Accounts at RateCity?
To search out the best value deposit account, you need to consider a number of factors including transaction and account-keeping fees, withdrawal penalties and other features. RateCity does your homework for you, by providing deposit account star ratings developed by CANSTAR CANNEX, Australia's leading financial research and ratings firm. CANSTAR CANNEX experts have independently analysed and evaluated hundreds of features to give the full five star ratings to only the very top 5% of Australia's 800 deposit accounts.
You can find the very best savings accounts by searching through RateCity's large warehouse of products.
How do I compare deposit accounts?
Deposit account comparison on RateCity is easy. Over 800 deposit accounts can be compared using our easy search tools.
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