BREAKING NEWS: RBA holds cash rate at 4.35% in March 2024Learn more
RateCity.com.au
  1. Home
  2. Savings Accounts
  3. News

Savings Accounts News

The latest savings accounts news and tips

Mark Bristow

Personal Finance Editor

Some of the top-rated savings accounts in March 2024

How big a difference does your savings account interest rate really make? You may be surprised by the effect that a high-rate savings account could have on your wealth, depending on your saving strategy. Just make sure that the account you choose is one that suits your needs and can help you reach your goals.

Savings Accounts

15 Mar, 2024

3 min read

Some of the top-rated savings accounts in March 2024
Eden Radford

External Comms Lead

What you could get with the difference in interest from a high interest savings account

The interest rate on your savings account can sometimes make the difference between you having a savings goal, and you achieving it.

Savings Accounts

28 Feb, 2024

3 min read

What you could get with the difference in interest from a high interest savings account
Mark Bristow

Personal Finance Editor

Will you grow your wealth this year? Some of the top-rated savings accounts in February 2024

Australia’s inflation may be falling faster than previously predicted, which could make it easier for savers to grow their wealth. However, it’s important to consider more than just interest rates when comparing savings account options.

Savings Accounts

07 Feb, 2024

3 min read

Will you grow your wealth this year? Some of the top-rated savings accounts in February 2024
Mark Bristow

Personal Finance Editor

The latest Gen Z trends? Saving and budgeting

As inflation and the cost of living put the squeeze on more Australian budgets, one generation is actively taking steps to save money and stay ahead of the curve. But how effective could these strategies be for reaching your savings goals?

Savings Accounts

22 Jan, 2024

3 min read

The latest Gen Z trends? Saving and budgeting
Mark Bristow

Personal Finance Editor

Some of the top-rated savings accounts in January 2024

Is 2024 the year you’ll finally buy that boat, go on that holiday, or organise that dream wedding? Whether you’ve already been growing your wealth, or you’re yet to start building your nest egg, it may be worth comparing savings accounts to make sure you’re getting the most value for your money.

Savings Accounts

15 Jan, 2024

3 min read

Some of the top-rated savings accounts in January 2024
Eden Radford

External Comms Lead

New highest savings rate of 5.70% hits the market

A new highest savings rate has hit the market, with MOVE Bank increasing its Growth Saver account by 0.20 percentage points to a maximum ongoing rate of 5.70 per cent.

Savings Accounts

01 Dec, 2023

5 min read

New highest savings rate of 5.70% hits the market
Eden Radford

External Comms Lead

Savings rates with no strings attached crack 5.50%

Australian Unity has today increased the rate on its Freedom Saver account by 1.25 percentage points to an ongoing rate of 5.50 per cent for balances of up to $50,000.

Savings Accounts

24 Nov, 2023

4 min read

Savings rates with no strings attached crack 5.50%
Mark Bristow

Personal Finance Editor

Which banks have hiked term deposits and savings accounts in November 2023?

The November 2023 meeting of the Reserve Bank of Australia (RBA) board saw the national cash rate rise by 25 basis points to 4.35% - the thirteenth hike of the current cycle that began in May 2022. 

Savings Accounts

17 Nov, 2023

3 min read

Which banks have hiked term deposits and savings accounts in November 2023?
Paul Marshall

CEO

Growing your wealth: should you invest or save?

Whether you're striving to expand your wealth or expedite your savings for future endeavours, there are various avenues to make your money work for you. Two common methods are investing in shares or stashing your funds in a savings account or term deposit. However, determining the best approach is not always straightforward.

Savings Accounts

15 Nov, 2023

9 min read

Growing your wealth: should you invest or save?
Peter Terlato

Personal Finance Editor

Grow your savings with rates above 5.5% in November

Savings rates are at some of the highest levels in more than a decade. This means that there are several options for individuals looking to earn competitive interest on their savings.

Savings Accounts

10 Nov, 2023

3 min read

Grow your savings with rates above 5.5% in November
Mark Bristow

Personal Finance Editor

Which bank has the best mobile app? Five questions to ask

A new research report has evaluated the mobile banking apps of Australia’s top lenders, and revealed which of Australia's leading banks has the best mobile app. But what questions can you ask a bank to work out if its app will suit your needs?

Savings Accounts

01 Nov, 2023

4 min read

Which bank has the best mobile app? Five questions to ask
Eden Radford

External Comms Lead

The highest savings rates take a tumble despite no RBA hike

Bank of Queensland and ME Bank have both sliced their high interest savings accounts in an out-of-cycle rate cut.

Savings Accounts

24 Oct, 2023

5 min read

The highest savings rates take a tumble despite no RBA hike

Promoted savings accounts products

MyState Bank Limited

Bonus Saver Account

Real Time Rating™

  • Bonus interest with conditions

  • App banking

  • Online banking

  • Linked account required

2024 Award Winner
*Deposit $20+ & make 5 purchases on a linked Everyday or Glide account per month

Maximum rate p.a.

5.00%*

Base rate p.a.

0.05%

First Option Credit Union Limited

Kids Bonus Saver < 18

Real Time Rating™

  • Bonus interest with conditions

  • App banking

  • Online banking

*Deposit at least $5 per month without making a withdrawal
Special
Deposit a minimum of $5 per month (pocket money!) without making a withdrawal and earn bonus interest up to 5.55% p.a. on balances up to $5,555.
  ~ Ends in 12 days

Maximum rate p.a.

0.85%*

Base rate p.a.

0.05%

Macquarie Bank Limited

Macquarie Savings Account

Real Time Rating™

  • Intro offer rate

  • App banking

  • Online banking

  • Linked account required

2024 Award Winner
Not applicable

Maximum rate p.a.

5.35%

intro 4 months then 4.75%

Base rate p.a.

4.75%

Westpac Banking Corporation Ltd

Westpac Life - 18 to 29 years old

Real Time Rating™

  • Bonus interest with conditions

  • App banking

  • Online banking

  • Linked account required

2024 Award Winner
*Make a deposit and make 5+ purchases on your Westpac Choice account each month

Maximum rate p.a.

5.20%*

Base rate p.a.

2.00%

product data updated on

Product data updated on 19 Mar 2024