More Australians are rethinking the need for an emergency fund, as the impacts of COVID-19 send many households’ personal finances reeling.
Australia’s second largest bank, Westpac, has today cut its savings account rates by 0.05 per cent.
The recent pandemic has given many Australians a financial wake-up call, with a new report indicating that more of us are now planning to put more of our savings aside in case of future emergencies.
Thankfully, there are still a range of helpful and competitive transaction and savings accounts on the market – you just need to do a little research.
Australia’s fourth largest bank, ANZ, has today cut its bonus savings rates by 0.15 per cent and some term deposit rates by up to 0.25 per cent.
It’s more important than ever for Aussies to take charge of their finances and ensure they’re getting the most competitive deal on their savings account(s).
ING has offered its savers a lifeline amidst the COVID-19 crisis, as more and more Aussies find themselves out of work and/or on a reduced income.
Australians are changing the way they save and spend money, as the impacts of COVID-19 on people’s everyday lives become more noticeable.
Australia’s biggest bank, CBA, has cut the bonus rates on its Goal Saver account today by up to 0.35 per cent while increasing the base rate on this account by 0.09 per cent.
While home loan interest rates have plunged to as low as 2.09 per cent, some banks have lifted their short-term savings rates to as high as 2.65 per cent for new customers.
With the RBA slashing Australia's cash rate, and big banks cutting savings rates, it's getting harder and harder to find savings accounts paying interest at a rate higher than inflation. In times like these, many Aussies are searching for alternative options to the big banks to help grow their wealth.
Australia’s second largest bank, Westpac, has this afternoon announced it will cut savings rates between 0.05 and 0.25 per cent, effective from Tuesday next week.
Australia’s 3rd and 4th largest banks, NAB and ANZ, have today dropped interest rates on savings accounts on the back of this month’s cut to the cash rate.
Australia’s biggest bank, CBA, has today cut interest rates on some savings accounts by up to 0.30 per cent on the back of last week’s cut to the cash rate.
Financial wellbeing among Australians is suffering amidst mounting concerns over retirement plans, mortgages and personal debts.
2.10%*
Intro 4 months then 0.15%
0.15%
2.20%
Intro 4 months then 0.80%
0.80%
2.05%
Intro 4 months then 0.35%
0.35%
1.70%*
0.05%
