Best saver accounts?

J

JUS085

Hi,

I have been looking for a good high interest saving account for my first property. Can anyone tell me what is the best out there!?

I plan to buy in 12 - 24 months and can put away 350-$500 p/wk. I'll be starting at zero, unless I sell some stock. Though, I'd prefer not to. I see most are $5,000 min..
 
way better hey....you must be on loan rates of 4.5% or less then ;)

ps thanks for the info on the TOC vals without a construction loan on the other post.
 
7%! Damn, I'm putting the kid's pocket money in the wrong place. I think she's getting 3% right now.

But then the bank I'm with charges $1 per external transaction and $0 for internal ones so transferring $12 a week to another bank ... hmmm. There goes 8% straight away.

Screw interest, I gotta find a fee-free bank account. My credit union sucks. :(
 
So sorry for not being clear, I'm new to all these forums.

It's all off the books, so I hope it's under the ATO gift ruling. Therefore, you have to trust them. But better for the family member who might be paying 6+% to the bank. Then again, they might just run off with your money. Oh well...
 
Kristine - the account that the child has is fee free and earns about 3%. The account that *I* have gets hit $1 per external transaction, eg transferring money to another bank. So if I opened a dollarmite account I'd get the $1 a transaction unless I changed to a different bank myself. While she's with the same CU as me its all free.

The fees on this account have slowly crept up since I joined it. I was getting about $30 a month in fees until I moved all my direct debits to our fee free account that came with the mortgage (which we lose any day now) and now I get about $4 a month in external payment and bpay charges instead. I use it to pay infrequent large bills like council rates, water, electricity, car rego, car servicing etc.

TBH I only hang onto it because I have a credit card on it and I use that as dire emergency funds or just a buffer when two huge bills come in the day before payday - I really do need to find a fee-free account. Wouldn't close the credit card, they are amazingly handy on a situation like we had last week, where we had $2000 in bills due literally the same day and then $5000 of payments come in a few days later. Stupid bank took our entire savings buffer to the cent and while we're paying two mortgages with no RE income it is very slow building it back up.

My hip pocket liked it better when we had $60k sitting in the bank at 6.5% and one mortgage ...

Edit: what the hell is the interest rate on a dollarmite account? I don't care about stupid animated people and pink popups with friendly writing in them, give me the damn figures already

Edit again: found it linked from one of the happy pink boxes ... 5%. CBA fees are actually pretty good. If they didn't have the 3% charge for foreign currency transactions (of which I make rather a lot and the current CU charges me nil for) I'd move everything across to them.
 
Last edited:
lolipss said:
Bankwest 7%
Click to expand...

Bankwest seems to be paying 6% on their smartesaver, 5.85% on term Deposits and 6.3% On telenet saver :confused:

Just had a look at Usaver, which also touts it was judged the Best Online Savings Account 2011 in Money magazine's 'Best of the Best' awards - for the second year running.

USaver also picked up the CHOICE Award for Best Online Savings Account 2011.

Currently kids have their funds in Bendigo and then to term deposits
 
Heh, my savings account for the eldest kid is so she can get a unit/flat/apartment of some description for herself when she moves out, which she inevitably will unless we relocate to the city before then. And then she'd probably still want to move out to get away from her little siblings :)

Don't think minors can really invest in property, they can't even get the FHOG.
 
redwing said:
Bankwest seems to be paying 6% on their smartesaver, 5.85% on term Deposits and 6.3% On telenet saver :confused:

Just had a look at Usaver, which also touts it was judged the Best Online Savings Account 2011 in Money magazine's 'Best of the Best' awards - for the second year running.

USaver also picked up the CHOICE Award for Best Online Savings Account 2011.

Currently kids have their funds in Bendigo and then to term deposits
Click to expand...

http://www.bankwest.com.au/personal/savings-term-deposits/savings-accounts/regular-saver
But youcan only deposit $500 max per month which is very little.

Ubank 6.51 interest rate it still better
 
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