Best value everyday savings accounts
Banks often don't give good deals on their basic products. The standard savings accounts that banks offer are some of their most popular products, but they often don't offer a great deal, the banks relying on advertising and brand awareness to bring in customers for these basic accounts. This more often than not leads to a suboptimal savings account that charges more than necessary with very little to no interest available on deposited funds, making it a terrible means of saving for large investments or for a deposit on a property investment loan. With just a little effort, however, it's quite simple to find the best deals on savings accounts that will save and make you more money than the majority of others from banks.
The RaboPlus Online Savings Account has a standard rate of 7.30% p.a. on call, with no account keeping fees and no minimum balance. Interest is calculated daily and paid monthly, meaning you can maximise the interest you earn on your savings. With no need to switch banks, you can open a RaboPlus Online Savings Account for dedicated savings while continuing to use your standard transaction account for everyday banking.
The BankWest Telenet Saver has an excellent introductory interest rate of 7.75% p.a. for the first twelve months, with no minimum deposit and no fees. Even after the initially high introductory rate of 7.75% p.a. has expired, you will only drop to a rate of 7.25% p.a. which is extremely competitive with other banks offering similar products. Online banking facilities help you to access your funds when you need them, with constant service every day of the week.
If you would like to learn more about the best in savings accounts or find an account for your needs, please visit our dedicated comparison pages of savings and transaction accounts from the banks.
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Calculate what is best for your financial situation with the Banks.com.au Online Calculators.
