Jump to content

High Interest Savings Account?

  • Please log in to reply
21 replies to this topic

#1 beaglebaby

Posted 24 January 2013 - 06:54 PM

Does anyone have any recommendations?  We've had money in one with a special bonus interest period and the bonus period is now over so it's earning pretty much somewhere between nothing and bugger all!  Time to move it!  Criteria - must be covered by the govt guarantee, would prefer it accessible rather than term deposit, don't care if it's only online access, don't plan on making withdrawals, would rather not have to keep making deposits - but would if it made a huge difference.

Thanks original.gif

#2 Lynneghl

Posted 24 January 2013 - 07:46 PM

I have an ANZ account, as long as you deposit a certain amount each month and don't make any withdrawals, it will pay the normal interest and also the additional bonus interest.

#3 Amy 1976

Posted 25 January 2013 - 06:39 AM

I like my UBank Saver account. It's online or phone banking only. It's associated with National Australia Bank.

#4 YumChaDaily

Posted 25 January 2013 - 06:46 AM

Yep, ubank here too, but I started it a while ago, and I need to get around to seeing if it's still the best rate available.

#5 Escapin

Posted 25 January 2013 - 06:54 AM

Check on the canstar rating site and see who's paying the most interest. All Australian banks/credit unions/etc and local subsidiaries of international banks are covered by the govt guarantee so that's not something you need to worry about. Unless you have more than $1million, in which case, I'd be getting some serious financial advice and not just putting it in a bank account!!

#6 *melrose*

Posted 25 January 2013 - 10:06 AM

I will keep a eye out on this as I am on the look out as well.

#7 *melrose*

Posted 25 January 2013 - 10:06 AM

Double post.

Edited by *melrose*, 25 January 2013 - 10:06 AM.

#8 beaglebaby

Posted 25 January 2013 - 04:42 PM

LOL Escapin, that would be a problem I'd love to have!  Nowhere near that amount but as it's earmarked for something specific in the next couple of years and the state of both the share and property market our financial planner recommended we keep it in the bank - pretty rare advice from a financial planner!  

Off to check out ANZ, ubank and canstar, so far the best I've seen apart from the short term offers (and experience tells me I won't be organised enough to move the money every 4 months to keep using the good introductory rates) is RAMS at 4.82% if you deposit $200 a month or 4.02 if you just leave it without monthly deposits.

#9 abbyminnie

Posted 25 January 2013 - 05:16 PM

Reward Saver at Westpac has 4.67% at the moment

#10 Feral Grey Mare

Posted 25 January 2013 - 05:20 PM

ING? Intro rate of 5%.

#11 asdf89

Posted 25 January 2013 - 05:59 PM

If you're happy with your current bank, can you just open a new savings account with them and transfer the money to that?

I have a savings account with NAB and each time the bonus interest expires I just open a new account. Super easy to do online (but you have to go into a branch to close the old account)

#12 jkate_

Posted 26 January 2013 - 10:16 PM

Me Bank online savings account.  5.1% variable intro rate for first 12 months.


#13 Another one

Posted 26 January 2013 - 10:24 PM

Do you have a mortgage on your home with free redraw?  Put it there.  I bet your mortgage rate would be higher than any interest rate you can find.

You will not pay tax on the interest you 'earn' as savings on your mortgage interest.

#14 sa5ha

Posted 26 January 2013 - 10:31 PM

Another vote for UBank!

#15 SeaPrincess

Posted 27 January 2013 - 06:37 PM

QUOTE (beaglebaby @ 25/01/2013, 02:42 PM) <{POST_SNAPBACK}>
and experience tells me I won't be organised enough to move the money every 4 months to keep using the good introductory rates

Mum rings her bank every time her account finishes and threatens to move all of the banking unless they match the intro offers.  She's been doing it for years.

#16 mumz3

Posted 27 January 2013 - 06:59 PM

I just opened a stgeorge maxisaver account. Can access it whenever you want and get 4.80% interest

#17 Moo point

Posted 27 January 2013 - 07:23 PM

UBank. Current interest rate is 4.66%, plus if you set up an automatic savings plan and deposit $200 per month you get an extra .7% interest (5.36% total).

#18 Sui-yat

Posted 27 January 2013 - 07:30 PM

ING also offer an extra 0.75% interest if you increase your balance by $200 per month.

I would consider a personal term deposit if you don't think you need the money. If you do need to break it, most of them still give you interest, it is just their usual savings rate rather than the term deposit interest rate.

#19 GreenCabbage

Posted 27 January 2013 - 11:21 PM

I had a unbank account. Great for interest and use. Had an ing for years but the rate really dropped so transferred to ubank and my online saver through my credit union.

#20 Keepleft

Posted 03 February 2013 - 08:59 AM

AUS GovCo bank guarantee stopped March 2010:-

Governments would be mad, to use taxpayer funds, OR rely on printing - to 'guarantee deposits', risky, particularly 2013 and on.

Edited by Keepleft, 03 February 2013 - 09:18 AM.

#21 Wallymaduka

Posted 03 February 2013 - 09:50 AM

ING? Intro rate of 5%.

Yes but that's just for 4 months, before dipping back to 3.25% with a 0.7% bonus when you deposit $200/month - which brings it up to only 3.95% over all.

UBank are offering 4.66% which includes the 0.7% bonus.

Just worked out that with my deposits, I can earn over $700 interest in one year with UBank.  Not bad.

Edited by 808state, 03 February 2013 - 09:59 AM.

#22 jayskette

Posted 03 February 2013 - 09:56 AM

if you would be bothered - just ask for a higher interest rate. Chances are they will give it to you rather than losing you. Or do what shy people I do - close the account, open one somewhere else

1 user(s) are reading this topic

0 members, 1 guests, 0 anonymous users


Kourtney Kardashian goes nude for art

We've all done some pretty radical things after a big break-up, but Kourtney Kardashian has gone one better.

Video shows babies 'singing' to music in the womb

A new study has shown that babies may actually be able to hear from as early as 16 weeks – 10 weeks earlier than was commonly thought.

Prevent pelvic pain with pre-pregnancy exercise: study

Women who want to stave off aches and pains in pregnancy should exercise regularly before they conceive, experts say.

Dad's hilarious blog about life with twins

A stand-up comedian in the UK has plenty of new material since becoming a dad to twin boys.

Dinosaur products for babies and toddlers

Dinosaurs are one of those classic childhood crazes. We've put together a host of products for dinosaur-mad parents, babies and toddlers.

Restaurant manager sticks up for noisy baby

A mum was left upset by a note from neighbouring diners saying her screaming baby had ruined their dinner.

His name is Cayden: Mum and social media hit back after racist Facebook attack

When a man posted a selfie with a co-worker's son to Facebook, it became a magnet for racist comments.

Join the Real Mums Test Drive Team

Five new mums will join the Essential Baby Test Drive Team and discover great new baby toys from Fisher-Price & write a review to be published on Essential Baby.

The Chinese tradition for new mums that can now cost $37,000 a month

Opulent rest time is becoming the gold standard in postpartum recovery, inspired by a Chinese confinement custom known as "sitting the month".

How the media can shape our decisions when it comes to labour

We all like to think that we make our choices in fair, reasoned and well-thought out ways. Not many of us would admit that we allowed the media to influence us in our life choices.

Mum told to express in pet relief area at airport

A woman who flew from Boston to Washington says staff with United Airlines at Washington's Dulles Airport suggested she pump her breast milk in the pet-relief area.

Heartbreak as mum dies and her baby chokes to death

An Australian woman living in the US collapsed and died while feeding her baby, who then choked to death on his food. 

The hidden mental health illness of anxiety

Anxiety took over Robyn Read's life to such an extent she could not even buy the groceries and felt suicidal.

Two children fall from second storey window

Two young boys have been rushed to hospital after falling out a second-storey window of a home in Eastwood.

Mum gives birth to India's heaviest baby

An Indian woman has given birth to a baby boy weighing a whopping 5.97kg, setting a new record for the country's heaviest baby.

Grandma surprised with brand new granddaughter

Finding out you’re going to be a grandmother can be a very emotional moment. Finding out that you’re a grandmother and the baby is already here is just out of this world.

Saltwater Sandals for babies and toddlers

Many mamas are wearing Saltwater Sandals - why not buy them for your babies and toddlers too?

How to spring clean your body and mind

Whether you're pregnant, already a mum, or are just trying to be a bit more healthy, there are ways to use the rejuvenating season to give yourself a boost.


What's hot on EB

Stella McCartney honours mum with lacy bra

Fashion designer Stella McCartney has honoured her late mum, Linda McCartney, by designing a special bra for post-mastectomy patients.

Don't panic: A granddad midwife's guide for dads-to-be

Mark Harris has helped deliver 500 babies. And he's now telling fathers what to expect.

How to be a calm parent when you're feeling anything but

Being a calm parent takes a lot of work, sometimes more than is obvious to those around us.

The joy and isolation of being a stay-at-home dad

It's cool, kind of like a second childhood. I love him to bits and think, on average, I'm an okay dad. But I also want to talk about the other stuff.

How baby Teddy's short life is helping save thousands of lives

He may have only lived for 100 minutes, but that didn't stop baby Teddy from saving the lives of others.

A heartbreaking trail of missed chances in death of baby forgotten in car

A haunting reminder to stay mindful about babies in cars, especially as we approach summer.

What to do if your baby has tongue-tie

Tongue-tie can cause feeding problems. However once it is diagnosed, the condition can be easily treated.

How to move house without losing your mind

Some people move frequently, while others like to stay put. But everyone finds it stressful.

'She had nowhere to go': how new mum's life began to unravel

The birth of her first child should have been happiest of times for Campsie mother Phuong Cao, but friends say it marked the beginning of when her life began to unravel. 

Women giving birth to a son keep some of his Y chromosomes

It was an experiment doomed to failure - they were looking for male cells in female bodies. And their search was stunningly successful.

Photos: How babies fit in the womb

A gorgeous photo series shows babies in the first hours after their birth - as they were positioned in the womb.

Baby tries to persuade stubborn bulldog to walk, fails

We don't know what he's saying, but this baby has a very clear message for his bulldog pal: let's walk - NOW.

The best toddler gift ever? Nine gender-neutral play kitchen picks

Without a doubt, one of the best gifts for a toddler turning two or three is a play kitchen.

9 easy steps to improve your baby photography

With a few simple tips you can take your images from random happy snaps to lovely clean images that create beautiful lasting memories.



Can't decide?

Check out the Essential Baby Names section for some inspiration

Essential Baby and Essential Kids is the place to find parenting information and parenting support relating to conception, pregnancy, birth, babies, toddlers, kids, maternity, family budgeting, family travel, nutrition and wellbeing, family entertainment, kids entertainment, tips for the family home, child-friendly recipes and parenting. Try our pregnancy due date calculator to determine your due date, or our ovulation calculator to predict ovulation and your fertile period. Our pregnancy week by week guide shows your baby's stages of development. Access our very active mum's discussion groups in the Essential Baby forums or the Essential Kids forums to talk to mums about conception, pregnancy, birth, babies, toddlers, kids and parenting lifestyle. Essential Baby also offers a baby names database of more than 22,000 baby names, popular baby names, boys' names, girls' names and baby names advice in our baby names forum. Essential Kids features a range of free printable worksheets for kids from preschool years through to primary school years. For the latest baby clothes, maternity clothes, maternity accessories, toddler products, kids toys and kids clothing, breastfeeding and other parenting resources, check out Essential Baby and Essential Kids.