Savings Accounts News

CBA cuts savings rates again as household deposits continue to rise

Australia’s biggest bank, CBA, has today cut savings rates on its main accounts for the second time this month and the fifth time since the November cash rate cut.

Macquarie Bank cuts savings rates, joins 50 lenders who’ve cut in 2021

Macquarie Bank has today revealed changes to its popular savings account, with cuts of 25 basis points in effect across its tiered variable account. Macquarie Bank joins the ranks of 50 other savings account providers who’ve cut interest rates since 1 January this year.

Serious Saver Account

Make more from your money. Introducing the HSBC Serious Saver Account.

Special intro rateBranch access

Maximum rate

0.30%

Intro 4 months then 0.15%

Base rate

0.15%

Go to site HSBC terms and conditions

A savings account with a generous interest rate offer from this global bank. The account does not charge ongoing fees and has no minimum balance requirements.

Nearly three quarters of Aussie couples clash over money

Valentine’s Day is just around the corner, but when it comes to your finances, mixing love and money is still proving tricky for many Aussies.

NAB becomes the third big bank to cut savings rates out-of-cycle

NAB has today cut two of its popular savings accounts by 0.15%, despite no move from the RBA since November. 23 banks have cut savings rates already in 2021, including CBA and Westpac last Friday and NAB today.

Can’t buy me love? Aussies prioritise finances over romance in 2021

ING Research shows that around 2.9 million Australians have reported feeling more financially prepared than ever for 2021, with many prioritising “financially fit” goals over romantic ones for the new year.

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.

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.

CBA responds to ASIC’s investigation into school banking

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.

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Today's top savings accounts products

Maximum rate

1.20%*

Base rate

0.10%

*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

Branch access
No ongoing fees
No minimum balance
Features on 2020 RateCity Awards

Real Time Rating™

Maximum rate

3.00%*

Base rate

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.