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Savings Accounts News

The latest savings accounts news and tips

Tony Ibrahim

Senior Journalist

Shoppers using buy now pay later risk “inflated prices”, regulator warns

Shoppers using services including AfterPay, Zip Pay and Certegy risk paying inflated prices, the financial regulator has warned, as merchants could try to recoup some money.

Savings Accounts

19 Nov, 2020

4 min read

Shoppers using buy now pay later risk “inflated prices”, regulator warns
Laine Gordon

Money Editor

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.

Savings Accounts

19 Nov, 2020

3 min read

ANZ the second big bank to cut savings post RBA
Alex Ritchie

Personal Finance Editor

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.

Savings Accounts

18 Nov, 2020

2 min read

Best savings accounts for November 2020
Tony Ibrahim

Senior Journalist

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”.

Savings Accounts

17 Nov, 2020

3 min read

Commonwealth Bank predicts a “much stronger recovery”
Liz Seatter

Senior Finance Writer

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.

Savings Accounts

16 Nov, 2020

7 min read

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

Senior Journalist

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.

Savings Accounts

16 Nov, 2020

5 min read

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

Senior Journalist

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.

Savings Accounts

12 Nov, 2020

4 min read

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

Money Editor

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.

Savings Accounts

11 Nov, 2020

3 min read

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

Senior Journalist

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.

Savings Accounts

30 Oct, 2020

4 min read

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

Senior Journalist

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.

Savings Accounts

30 Oct, 2020

3 min read

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

Senior Journalist

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.

Savings Accounts

20 Oct, 2020

4 min read

Afterpay to provide Westpac-powered savings accounts
Alison Cheung

Finance Writer

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.

Savings Accounts

19 Oct, 2020

4 min read

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