Savings Accounts News
The latest savings accounts news and tips
Alison Cheung
Finance Writer
Westpac shaves savings interest rates by up to 0.20%
One of the country’s biggest banking groups, Westpac Group, has taken the axe to some of its savings account rates across its subsidiaries.
Savings Accounts
04 Sep, 2020
5 min read
Tony Ibrahim
Senior Journalist
As Australia records its largest recession, households savings jump threefold: ABS
Australian households have met the largest recession since records began 61 years ago by creating a savings bunker three times greater than usual, according to the ABS.
Savings Accounts
02 Sep, 2020
4 min read
Tony Ibrahim
Senior Journalist
Tax returns to offer savings bump in uncertain times: ME Bank
A majority of people plan on banking this year’s tax return as they brace for the economic uncertainty brought about by the COVID-19 pandemic, a survey has found.
Savings Accounts
31 Aug, 2020
3 min read
Alison Cheung
Finance Writer
AMP, Macquarie target introductory rates, savers suffer
AMP and Macquarie have put the squeeze on savers this week, as banks zero in on introductory rates.
Savings Accounts
28 Aug, 2020
4 min read
Tony Ibrahim
Senior Journalist
Money squeezed Aussies are looking to sell their stuff to pocket $5800: Gumtree
Australians feeling the financial squeeze of the coronavirus pandemic are looking to pocket about $5800 in extra cash by selling some of their unwanted stuff, a new report reveals.
Savings Accounts
28 Aug, 2020
3 min read
Alex Ritchie
Personal Finance Editor
The best savings accounts for August 2020
Finding a savings account that offers a decent return in 2020 can feel a lot like looking for a needle in a haystack. However, the highest rates on the market may be accessible to you if you’re willing to consider switching providers.
Savings Accounts
27 Aug, 2020
3 min read
Tony Ibrahim
Senior Journalist
CBA: Australia’s largest bank cuts interest rates on saving accounts
The largest bank in Australia has reduced how much money people’s savings could earn in interest with an out-of-cycle cut.
Savings Accounts
20 Aug, 2020
2 min read
Mark Bristow
Personal Finance Editor
Is your money safer in your wallet or in the bank?
Some Australians are understood to be taking money management into their own hands… literally. But is stockpiling cash really safer or better than keeping your money in the bank?
Savings Accounts
19 Aug, 2020
5 min read
Alex Ritchie
Personal Finance Editor
Banks continue to slash savings account rates out of cycle
Does your savings account seem a little lacklustre lately? You’re not alone, as RateCity research reports that 46 banks have cut savings account rates in the last month.
Savings Accounts
11 Aug, 2020
4 min read
Tony Ibrahim
Senior Journalist
How Australians are spending their COVID-19 stimulus payments: ABS
A ‘detailed’ survey by the government’s statistical agency reveals how the one-in-three Australians receiving a stimulus payment during COVID-19 is spending the money.
Savings Accounts
10 Aug, 2020
3 min read
Alison Cheung
Finance Writer
Young Australians financially “devastated” by COVID-19
Young Australians are bearing the brunt of the coronavirus-induced economic downturn, but may have to foot the COVID-19 bill during their working lives.
Savings Accounts
31 Jul, 2020
5 min read
Tony Ibrahim
Senior Journalist
Households on the brink of 'savings cliff', ME Bank warns
Government payments have cushioned the financial blow wrought by the coronavirus, but survey findings indicate households face a financial 'cliff' as stimulus payments recede.
Savings Accounts
31 Jul, 2020
4 min read
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