Savings Accounts News
The latest savings accounts news and tips
Peter Terlato
Personal Finance Editor
Boost your savings with rates above 5% in June 2023
Savings rates have rarely been this high over the past decade. If you have the ability to set some cash aside, now may be an ideal time to do so in order to take advantage of this attractive opportunity.
Savings Accounts
06 Jun, 2023
3 min read
Alex Ritchie
Personal Finance Editor
Here's how much you could earn with the new highest savings rates
The RBA has hiked the cash rate yet again to 4.10%. Discover how much more of an impact higher rates could make on your savings account.
Savings Accounts
06 Jun, 2023
3 min read
Laine Gordon
Head of Public Relations
Competition in the savings sector heats up as more accounts climb above 5 per cent
A total of five banks now offer at least one ongoing savings rate above 5 per cent, as competition in the savings sector continues to heat up.
Savings Accounts
01 Jun, 2023
5 min read
Mark Bristow
Personal Finance Editor
Cost of living hits Buy Now Pay Later spending this Mother’s Day
While Australians traditionally go all-out splurging on gifts for Mum each Mother’s Day, this year we’ve had to tighten our belts, according to data from one of Australia’s Buy Now Pay Later (BNPL) providers.
Savings Accounts
16 May, 2023
3 min read
Peter Terlato
Personal Finance Editor
Score high-interest savings rates in May 2023
The highest interest savings accounts exceed 5% - advantageous for anyone who can manage to put some funds aside.
Savings Accounts
12 May, 2023
3 min read
Alex Ritchie
Personal Finance Editor
Savings rates rise on back of RBA hike, but many still trail well behind the cash rate
The majority of big four bank savings customers will receive a boost to their interest rate today as the banks pass on the May RBA hike.
Savings Accounts
12 May, 2023
4 min read
Laine Gordon
Head of Public Relations
New highest ongoing savings rate hits 5.30%, but it’s not for everyone
Bank of Queensland has today announced it will increase the maximum rate on its Future Saver by 0.15 percentage points to 5.30 per cent, effective Friday.
Savings Accounts
10 May, 2023
3 min read
Alex Ritchie
Personal Finance Editor
Highest savings rate for all adults to reach 5.25% from ING: what you need to know
ING has revealed it is increasing its highest ongoing variable savings rate by 25 basis points to 5.25%. This will be the highest savings account rate for adults on the RateCity database.
Savings Accounts
05 May, 2023
4 min read
Laine Gordon
Head of Public Relations
Westpac and ANZ announce RBA hikes: what it means for homeowners and savers
Westpac and ANZ have today announced they will pass on Tuesday’s 0.25 percentage point RBA hike to mortgage customers. Both banks have also announced increases for select savings customers, but not all.
Savings Accounts
04 May, 2023
4 min read
Alex Ritchie
Personal Finance Editor
How high could savings and term deposit rates go in 2023?
With the big banks predicting even more cash rate hikes to come, how high could savings account and term deposit interest rates climb in 2023? It could be by another 75 basis points, bringing savings rates to above 5%.
Savings Accounts
02 May, 2023
5 min read
Alex Ritchie
Personal Finance Editor
ACCC to put the blowtorch on savings rates: which banks will pass the test?
Sub-standard savings accounts that have not kept up with the rising cash rate are likely to come under scrutiny over the next month as the ACCC calls for submissions into its retail deposits inquiry.
Savings Accounts
21 Apr, 2023
7 min read
Peter Terlato
Personal Finance Editor
Highest interest savings rates over 5% in April 2023
This is the highest the cash rate has been since mid-2012, encouraging banks to offer high-interest savings rates not seen in years.
Savings Accounts
06 Apr, 2023
3 min read
Trending articles
Mark Bristow
Personal Finance Editor
04 Sep, 2024
Some of the top-rated savings accounts in September 2024
Laine Gordon
Head of Public Relations
30 Aug, 2024
Household deposits hit $1.5 trillion: APRA
Mark Bristow
Personal Finance Editor
02 Aug, 2024
Saving or spending? Some of the top-rated savings accounts in August 2024
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