Savings Accounts News
The latest savings accounts news and tips
Laine Gordon
Head of Public Relations
Savers get a boost as new highest rate hits 4.60% for all adults
It’s showtime for the highest savings accounts as banks break the 4.5 per cent savings rate barrier on the back of the RBA’s historic eighth consecutive cash rate rise.
Savings Accounts
08 Dec, 2022
6 min read
Peter Terlato
Personal Finance Editor
Save for new year buys with some of the best savings accounts in December 2022
Are you searching for a savings account to grow your money in the hopes of making a few new year purchases? Perhaps you’re looking to renovate your property, buy a new electric car, take a summer vacation or invest in green funds.
Savings Accounts
06 Dec, 2022
2 min read
Laine Gordon
Head of Public Relations
The 5-minute move that could boost savings by up to $1,968 in a year
Australians with money in the bank are finally starting to see some decent rates on their deposits after seven RBA hikes. However, not all savers are being treated equally as banks pick and choose which accounts to reward with higher rates.
Savings Accounts
09 Nov, 2022
6 min read
Laine Gordon
Head of Public Relations
New highest savings rate hits 4.30%
The highest ongoing savings rate has now hit 4.30 per cent, and it is available for all adults. ING has announced today it will hike its popular Savings Maximiser account by 0.25 percentage points to 4.30 per cent from next Tuesday, for balances up to $100,000.
Savings Accounts
03 Nov, 2022
3 min read
Liz Seatter
Senior Finance Writer
ANZ announces RBA hikes: how the big four now stack up
The big four banks have now all announced their November RBA rate increases - see how their savings rates now compare.
Savings Accounts
02 Nov, 2022
4 min read
Laine Gordon
Head of Public Relations
CBA rewards savers as the bank announces its RBA response
Australia’s biggest bank, CBA, has followed NAB, by announcing it will pass on yesterday’s 0.25 percentage point RBA hike in full to its variable mortgage customers. Unlike NAB, CBA has also revealed what it will do for its savings customers, announcing rate hikes for each of its key savings accounts, in most cases by more than the 0.25 percentage point hike.
Savings Accounts
02 Nov, 2022
3 min read
Liz Seatter
Senior Finance Writer
RBA rate hikes kick in for variable borrowers and select savers
More than half of Australia’s variable mortgage customers will see their rates rise by 0.25 percentage points from today as CBA, NAB, ANZ and Macquarie’s October RBA rate hikes take effect.
Savings Accounts
14 Oct, 2022
5 min read
Mark Bristow
Personal Finance Editor
Which banks have hiked term deposit and savings account rates in October 2022?
The October 2022 meeting of the Reserve Bank of Australia (RBA) saw the national cash rate rise by just 25 basis points. While the RBA may be starting to slow the pace of its rate rises, several leading banks and Authorised Deposit-taking Institutions (ADIs) have been quick to announce increases to their interest rates for savers.
Savings Accounts
07 Oct, 2022
3 min read
Liz Seatter
Senior Finance Writer
ING trumps market leaders with 4.05% savings rate
The market-leading savings rate for all adults has now climbed above 4 per cent, as more banks go beyond the RBA hike to attract deposits.
Savings Accounts
06 Oct, 2022
4 min read
Liz Seatter
Senior Finance Writer
Big four bank RBA wrap – the winners and losers
While the big four banks have announced they will pass on the full RBA rate hike to their variable mortgage customers, many savers have, so far, missed out.
Savings Accounts
05 Oct, 2022
5 min read
Alex Ritchie
Personal Finance Editor
Where savers can get interest rates above 4%
RateCity research shows that there are nine savings accounts on our database offering high interest rates above 3%, and four term deposits offering rates above 4%.
Savings Accounts
30 Sep, 2022
4 min read
Alex Ritchie
Personal Finance Editor
Savings account interest rates hit 4%: where to get a high interest savings account
Savings account interest rates have just breached the 4% mark for the first time in seven years, thanks to Bank of Queensland. Discover who is offering high interest savings accounts.
Savings Accounts
20 Sep, 2022
4 min read
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