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High Interest Savings Account?

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#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 sa5ha

Posted 26 January 2013 - 10:31 PM

Another vote for UBank!

#14 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.

#15 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

#16 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).

#17 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.

#18 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.

#19 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.

#20 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.

#21 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

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