best interest rates for savings accounts (1 Viewer)

[sly_skittle]

hi,

i have done research...a bit..and i think hsbc serious savers offers 6.2% pa BUT where are the accounts that have interest of 15% and stuff? is that just for home loans?

I know that you can get up to and over 15% interest if you invest in a managed fund. this site here has a list that you can search and see their returns; http://www.investsmart.com.au/funds/rebate.asp?gclid=COi5so6urYkCFRKXYAod0X_tOA - usually you need to have over a certain amount before you can join- but this is usually about $500-$1000.- but if you do a search you can find a lot which have no minimum deposit

If you wanted to be safe you would have to go for a fund with lower returns but a more consistent portfolio- some of these are worth checking out and have consistently returned 20% p.a.+ over the past 5-10 years- if you were worried about the stockmarket or something like that (i have no idea about that kind of stuff) you could always find a fund which has investments in real estate or cash.

You could always just put a percentage of your savings in a managed fund and then put the rest in a more secure- fixed rate- investment/account

 

[alby]

which suncorp metway account did alby use?

everyday options, with a sub-account
http://suncorp.com.au/suncorp/banking/personal/everyday/options.html

 

[namdog]

why does it say for the nab isaver:
" " 5.45% p.a. variable interest rate, calculated daily, paid monthly"
and is there a site for the ING ftw thingy?
thanks

Variable means that the rate will change along with exchange rates. So, as they increase, your rate increases.

As for 5.45%, it was that rate a while ago. I'm assuming they forgot to update it.

 

[Kirsti]

I have one with HSBC getting 6.4% but you can't withdraw during the month. I have a bit more than half my money i there.

Another with BankWest getting 6.25%. When you open the account you get 6.8% for the first year (www.abetterdeal.com.au). I keep about 30% of my money in there in case I need it before the end of the month so I don't lose interest from HSBC.

Both those accounts are linked to my St George student A/C where I pay no fees if I stay in my free transactions. With St George I also have a dragondirect A/C paying 6.05 that I don't keep much in.

I also work for a Credit Union and they'll only pay into the account I have with them. They have an online account paying 6%. I keep a couple of hundred in there as spending money cause I can wihdraw with no fees from work whenever I feel like it. Everything else I transfer to my St George A/C and then on to one of the others.

Also a few thousand in a managed fund.

 

[eq2]

A good account is the Commonwealth Netsaver. There are no fees and you get interest even if you withdraw. To get money out you have to transfer online though but thats easy. For under $5000 it is 5.65% and above $5000 its 6%. Its paid monthly.

There is now Netbank Fast Start for under-25s. It's fixed 6% interest if you have over $1000 (edit: as of April 23 there is no minimum) in the account. There are absolutely no fees if you're a student. Link it with your Streamline account and you're set.

http://www.commbank.com.au/faststart/

 

[yellow_sub]

im with bankwest, earnign 6.8% this year, and then 6.2 for each subsequent year. there are no fees and no withdrawal penalties, ie they pay you interest no matter how much you withdraw in the month. there is also no minumum amount needed to open account.
the only slightly negative part is that if you withdraw more than you actually have, you are charged 15% interest (a bit like a credit card) and that you cant get the money out from an ATM, you have to transfer it to another account (im with the commonwealth bank) and take it from there.

 

[Katie123]

i have an ing account with a savings plan to take money out every fortnight atm the interest rate is 6% p.a but in dec jan they increased it to 7% for any amount deposited in that time period.

 

[chilena4life]

head to WWW.RATECITY.COM.AU

they have every type of account(almost)

you can choose say for instance a savings account and search for the top ten with the highest interest rates...it's pretty handy..

hope that helps

 

[ari89]

7.15% variable.
Full access to $ as a savings account and not a term deposit.
Best imo

 

[codydhu]

Ive got a term deposit account (12 months ) with ANZ which pays 7.25%
I think it would be less if i had only deposited less than $5,000

 

[ari89]

unless youve got like ten billion dollars, a few per cent difference in interest rates is not going to be life changing

my finance exam says otherwise