Savings Accounts News

Is the new $100 note, out October, the last update to a banknote we’ll see?

The RBA has been busy printing 400 million hundred-dollar bills in anticipation of rolling them out into public wallets, bringing to a close a banknote redesign program decades in the making.

Changes to JobSeeker and JobKeeper take effect

The first decrease in the welfare payment keeping more than a million people financially afloat drops by $300 today, while the other keeping millions more in work tapers too.

Household wealth grew by $5881, a partial recovery for the quarter

Some of the value people lost in superannuation, shares and savings due to the COVID-19 pandemic has been recovered, quarterly figures reveal, but a larger rebound was held back by falling property values.

Budget day rate cut on the cards for October: big banks

Two of the big four banks predict a budget day rate cut of 15 basis points could be on the cards.

Australians tipped to be saving more of their incomes in the next three years

Australians are hanging on tight to their money, with savings levels tipped to stay high in the next three years.

Second cut in a month for Dollarmite savers

Australia’s largest bank, CBA, has today cut two of its most popular savings accounts for the second time in a month.

Australians tighten their belts, keep cash close as deposits surge

Nearly half of Australians are cutting back on spending they made before COVID-19, new research indicated.

Westpac shaves savings interest rates by up to 0.20%

One of the country’s biggest banking groups, Westpac Group, has taken the axe to some of its savings account rates across its subsidiaries.

As Australia records its largest recession, households savings jump threefold: ABS

Australian households have met the largest recession since records began 61 years ago by creating a savings bunker three times greater than usual, according to the ABS.

Tax returns to offer savings bump in uncertain times: ME Bank

A majority of people plan on banking this year’s tax return as they brace for the economic uncertainty brought about by the COVID-19 pandemic, a survey has found.

AMP, Macquarie target introductory rates, savers suffer

AMP and Macquarie have put the squeeze on savers this week, as banks zero in on introductory rates.

Money squeezed Aussies are looking to sell their stuff to pocket $5800: Gumtree

Australians feeling the financial squeeze of the coronavirus pandemic are looking to pocket about $5800 in extra cash by selling some of their unwanted stuff, a new report reveals.

The best savings accounts for August 2020

Finding a savings account that offers a decent return in 2020 can feel a lot like looking for a needle in a haystack. However, the highest rates on the market may be accessible to you if you’re willing to consider switching providers.