The latest savings accounts news and tips
CBA and Westpac cut savings rates on popular accounts
The Commonwealth Bank and Westpac have today cut rates on some of their most popular savings accounts.
How to grow your savings in the time of low interest rates
While COVID-19 hit many people hard, it has also helped so many households get ahead by boosting their rainy-day fund. But many Australians may be wondering how they can be expected to actually grow their new-found savings in the current low-rate environment.
*Bonus interest is paid when a customer has made an eligible deposit of $20 into the Bonus Saver account in the calendar month and made 5 eligible Visa card purchases on the linked Everyday or Glide account in the calendar month
1.20%*
0.10%
3.41
$114.5
Saving slowed over Christmas, but Aussies squirrelled away $100b
The rate of savings slowed in November according to the latest data from the Australian Prudential Regulation Authority (APRA), as millions of Aussies undoubtedly spent more on groceries and gifts in the lead up to Christmas.
CBA responds to ASIC’s investigation into school banking
The nation’s largest provider of school banking has responded to criticism that they’re taking advantage of ‘vulnerable’ children in an effort to grow their customer base.
School banking failing our kids: ASIC report
Consumer advocate, RateCity.com.au, believes state and territory governments should kick banks out of our primary schools, on the back of today’s damming school banking report from ASIC.
CommBank AdvancePay: Borrow hundreds of dollars for a $5 to $10 fee
The Commonwealth Bank is piloting a new program that’ll see participants tap into hundreds of dollars for a flat fee -- provided they make their repayments on time.
CBA sneaks through a second savings cut before Christmas
The country’s largest bank, CBA, has today shaved its popular savings accounts for the second time in a month.
RBA: Shoppers shouldn’t pay Afterpay surcharge, but perhaps someday soon
Rules banning retailers from slapping surcharges on the products bought over buy now pay later platforms are unlikely to be scrapped, the RBA has said -- that is, until the technology matures.
Australians saving about a fifth of income as country bounces back from recession
The country bounced back from a quarterly loss comparable to The Great Depression, but Australians are still being cautious and saving nearly 20 per cent of their income.
ING shakes up its popular Savings Maximiser account
ING’s Savings Maximiser has announced changes to conditions for savers to earn its bonus interest rate. However, some customers may now be unable to qualify for the bonus rate if they're not careful.
Dumping Dollarmites: why CBA’s school banking scheme doesn’t pay
Parents with children enrolled in CBA’s Dollarmites should send their school a message by switching to a more competitive savings account, according to RateCity.com.au.
Bonus Saver Account
3.50
Fast Track Starter Account (Ages 14 - 24)
3.00%*
0.05%
*Bonus Interest applies for the following month where $200 or more is credited to the linked Day2Day Plus account in the prior month. This amount does not include amounts transferred from another one of your BOQ Accounts; Customers will also be required to make 5 eligible transactions which includes:- Settled Visa Debit Card & eftpos Card purchases, Direct Debits and ATM withdrawals.
4.65
Online Saver
1.10%
Intro 4 months then 0.35%
0.35%
2.89
Flexi Saver
0.85%*
*Ensure that on the last business day of the month, your closing balance is at least $300 higher (excluding interest) than the opening balance on the first business day of that month
3.28
