Savings Accounts News

ANZ the second big bank to cut savings post RBA

ANZ has today cut rates on its popular savings, term deposit and pensioner accounts by up to 0.20 per cent.

Best savings accounts for November 2020

RateCity has done the hard work for you by ranking some of the most competitive savings accounts in the marketplace for both adults and kids with our Real Time RatingsTM system.

Commonwealth Bank predicts a “much stronger recovery”

Australia's economy could snap back much quicker and stronger from the COVID-19 pandemic, experts say, but the road to recovery has been described as “uneven” and “bumpy”.

Buy now, pay later customers skipping meals and essential bills to make payments

Some Australians are skipping meals, household bills and mortgage repayments as a result of overspending using buy now, pay later platforms, according to a ASIC.

Buy now pay later fees surge, causing some to skip meals: ASIC

One in five people using services such as Afterpay and Zip Pay were skipping essentials like meals in order to make their repayments on time and avoid paying late fees, a regulator has found.

COVID-19: JobSeeker extended but cut by 40 per cent

The COVID-19 supplementary payment intended to help over 400,000 people find work again has been extended, but it’s also been cut by 40 per cent.

ING and ME Bank slash savings rates - a sign of what’s to come

Savings rates are starting to feel the squeeze following last week’s RBA cut, with ING and ME Bank dropping rates by the full 0.15 per cent on their popular savings accounts today.

Tax time: How to secure an extension and get COVID-19 help

The deadline for people preparing their own taxes is October 31, but there’s plenty of options available if you haven’t had the chance to take care of the paperwork.

Banks slash interest on savings accounts ahead of a forecast rate cut

Banks are slashing the interest customers can earn on their savings in a move widely seen as preempting a cash rate cut by the nation’s central bank.

Afterpay to provide Westpac-powered savings accounts

Afterpay’s millions of customers will be able to sign up for Westpac-powered savings and transactions accounts under a partnership between the two traditional rivals.

Banks axe savings rates as RBA tipped to make Melbourne Cup Day rate cut

Thirty-one banks across Australia, including the likes of Westpac and ANZ, have trimmed savings rates in the past two weeks, according to RateCity data.

ANZ reduces savings and term deposit interest rates

ANZ has shaved rates on some of its savings and term deposit accounts, as savers continue to feel the pinch from low interest rates.

Financial stress due to COVID-19 easing but still rife

Money worries due to COVID-19 are easing for many households, but not everyone is out of financial strife yet.