Savings Accounts News
The latest savings accounts news and tips
Laine Gordon
Money Editor
New highest ongoing savings rate hits 5.30%, but it’s not for everyone
Bank of Queensland has today announced it will increase the maximum rate on its Future Saver by 0.15 percentage points to 5.30 per cent, effective Friday.
Savings Accounts
10 May, 2023
3 min read
Alex Ritchie
Personal Finance Editor
Highest savings rate for all adults to reach 5.25% from ING: what you need to know
ING has revealed it is increasing its highest ongoing variable savings rate by 25 basis points to 5.25%. This will be the highest savings account rate for adults on the RateCity database.
Savings Accounts
05 May, 2023
4 min read
Laine Gordon
Money Editor
Westpac and ANZ announce RBA hikes: what it means for homeowners and savers
Westpac and ANZ have today announced they will pass on Tuesday’s 0.25 percentage point RBA hike to mortgage customers. Both banks have also announced increases for select savings customers, but not all.
Savings Accounts
04 May, 2023
4 min read
Alex Ritchie
Personal Finance Editor
How high could savings and term deposit rates go in 2023?
With the big banks predicting even more cash rate hikes to come, how high could savings account and term deposit interest rates climb in 2023?
Savings Accounts
02 May, 2023
5 min read
Alex Ritchie
Personal Finance Editor
ACCC to put the blowtorch on savings rates: which banks will pass the test?
Sub-standard savings accounts that have not kept up with the rising cash rate are likely to come under scrutiny over the next month as the ACCC calls for submissions into its retail deposits inquiry.
Savings Accounts
21 Apr, 2023
7 min read
Peter Terlato
Personal Finance Editor
Highest interest savings rates over 5% in April 2023
This is the highest the cash rate has been since mid-2012, encouraging banks to offer high-interest savings rates not seen in years.
Savings Accounts
06 Apr, 2023
3 min read
Alex Ritchie
Personal Finance Editor
How you could save over $1,700 in a year (with very little effort)
Millions of Australian savers may be able to boost their nest eggs by $1,766 in just one year through a high interest rate savings account.
Savings Accounts
04 Apr, 2023
5 min read
Peter Terlato
Personal Finance Editor
Could a banking crisis happen in Australia?
Australia’s banking landscape is not facing the same risks of catastrophe or contagion that has plagued lenders like Silicon Valley Bank, Signature Bank and First Republic Bank in the United States.
Savings Accounts
20 Mar, 2023
4 min read
Alex Ritchie
Personal Finance Editor
Top rated savings accounts and term deposits revealed: RateCity Gold Award winners
Shopping around for a new place to store your savings? RateCity has revealed the winners of the fourth annual RateCity Gold Awards in its Savings Accounts and Term Deposit categories.
Savings Accounts
16 Mar, 2023
4 min read
Mark Bristow
Personal Finance Editor
Which banks have hiked savings account and term deposit rates in March 2023?
The Reserve Bank of Australia’s (RBA’s) mission to bring down high inflation has seen the national cash rate increase for the 10th straight monthly meeting as of March 2023. With several Australian banks and Authorised Deposit-taking Institutions (ADIs) passing this rate rise on to savers, more Australian savings account interest rates are starting to hit the 5.00% mark.
Savings Accounts
13 Mar, 2023
4 min read
Alex Ritchie
Personal Finance Editor
ING announces new highest ongoing savings rate for all adults
ING has today announced it will be increasing the maximum rate on its Savings Maximiser to 5.00%. When this takes effect next Tuesday, it will be the highest ongoing savings rate available to all adults.
Savings Accounts
10 Mar, 2023
4 min read
Peter Terlato
Personal Finance Editor
Score rates above 5% with some of the best savings accounts in March 2023
The highest interest savings accounts are now above 5 per cent, with Bank of Queensland offering a conditional rate of 5.15 per cent to some customers.
Savings Accounts
09 Mar, 2023
3 min read
Trending articles
Mark Bristow
Personal Finance Editor
06 Nov, 2024
What will happen to savings accounts when interest rates fall? Some of the top-rated savings accounts in November 2024
Laine Gordon
Money Editor
01 Nov, 2024
Highest savings rate takes a tumble
Vidhu Bajaj
Personal Finance Writer
08 Oct, 2024
Some of the top-rated savings accounts in October 2024
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