Is any bank offering greater than 4% on cash / savings account?

[Sheryn]

3.9% is the best rate available at my credit union for investing at call or over the internet.

Conditions:

• no credit card
• no cheque book
  

BUT has autotransfer and Bpay + $30.00 per year fee

This is OK...

Can get 4% at Credit Union but if you withdraw for the month you get 0% and you must put in $50.00 per month.

Not a fan of the above one....

CBA
Cash Investment Account CIA is 4% and as far as I am aware all transactions take place over the internet (could be wrong on this).

Currently researching what rates available for savings at the moment in any of the big 4 banks?


Does anyone know what ANZ, NAB and Westpac offer?


Thanks in advance
Sheryn

 

[The Y-man]

Raboplus - 4% internet only, no fees... needs linked account

http://www.raboplus.com.au/

Cheers,

The Y-man

 

[auror]

AMP EasySaver - 4.35% pa

Features

* You can access your money if you need to by transferring into a linked account of your choice (in the same name as this account).
* No minimum opening deposit.
* No Bank Fees
* Interest is calculated daily and paid monthly.

 

[Rixter]

AMP EasySaver - 4.35% pa

Features

* You can access your money if you need to by transferring into a linked account of your choice (in the same name as this account).
* No minimum opening deposit.
* No Bank Fees
* Interest is calculated daily and paid monthly.

Yes AMP are certainly stamping their arrival as a Bank. I have just settled 2 LOC's with them also. Their DSR calculations sh*ts all over the other banks.

 

[ffc1883_1996]

4.75%

Bankwest Smart eSaver

 

[Sheryn]

. Their DSR calculations sh*ts all over the other banks.

Rixter - what does DSR stand for?

Thanks for all the responses so far...

Kind Regards
Sheryn

 

[Sheryn]

Bankwest Smart eSaver

Grow your savings faster with our new high interest savings account. Get our Smart Rate of 4.75% p.a. variable each month you make no withdrawals, or our Standard Rate of 3.00% p.a. variable if you do.

Better than our Credit Unions' Bonus Saver of 4% if you save $50.00 per month and 0% if you make a withdrawal in the month.

I should mention that I have funds in a mortgage account earning 6% but they are frozen (although I can apply for a redemption and receive a % back).

What I am after is a flexible account (backed by the Government) earning a decent % which does not penalise you if you make a withdrawal of a few thousand every few months.


Regards
Sheryn

 

[ben73]

http://www.ratecity.com.au/savings-accounts/highest-rates/

 

[buzzlightyear]

Rixter - what does DSR stand for?

Thanks for all the responses so far...

Kind Regards
Sheryn

Debt Servicing Ratio = financial commitments/taxable income. The way the banks used to determine whether you qualify for a loan. (Who knows, maybe it will make a comeback!)

Banks have been working out serviceability a little differently for a few years now. Not sure how generous AMP's is versus the other banks. Maybe some of the MB's can confirm.

Rixter was using the term, probably in the context of generic serviceability instead of the specific formula.

 

[BayView]

ING Savings Maximiser: 3.75%

Pathetic.

 

[BV]

St George have a special for new customers
4.5% for 4 months then drops to 3.2%
http://www.directsaver.com.au/directsaver/

 

[poppy]

I just opened an account with OneDirect, 4% interest, no minimum amount, no fees. I can make as many withdrawals as I want, basically no catches as far as I can tell. I don't have to open any other accounts with them, I keep my existing transaction accounts with other banks.

OneDirect are owned by ANZ. They even use the same internet banking system which is quite good (just with a one direct logo in the corner). One thing I find with ANZ is that they are fast (compared with some other banks anyway) in processing the internet transfers so the delay is not too great in transferring your savings to another account. This was confirmed when I made a transfer from another bank late on Sunday night, it hit my OneDirect account when I got home from work on Monday night.

 

[csc]

i recently obtained 4.55% from westpac..long time customer and it was a substancial amount............at the time it was the best of the worst from the majors...money available at call...

if you have a reasonable amount to deposit, bypass the counter jumper who really doesnt care and head for the managers throat...........may be worthwhile..good luck

 

[BV]

CSC
what's a reasonable amount?

 

[csc]

CSC
what's a reasonable amount?

depends on each persons circumstances...

$500k upwards is a reasonable amount and what i used for leverage to obtain a crappy rate deal..only short term for me..

so is $2 mill...then again so was last weeks pay packet...