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Don’t just stick your hard earned savings into any regular savings account. You may be very happy to find that there are banks in the market that offer significantly higher interest rates on your money than your current saving account. So, compare the market using our comparison table and find the highest interest savings account and lowest fees so that your money can accrue the most interest. Also, high interest savings accounts aren’t like term deposits and typically don’t require you to lock your money away for fixed periods. So no matter if you’re saving up for a new boat, a backyard pool installation or building up your first home deposit then an online savings account is ideal.
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Why keep your money stagnating in a standard savings account? Use our free online comparison table to find a significantly higher interest rates and low/no fees on your money. The Australian market for high interest savings accounts has expanded greatly over the last few years, giving you plenty of options for safe places to put you hard earned cash and watch it grow. High interest savings accounts aren’t like term deposits and typically don’t require you to lock your money away for fixed periods. So if you want the benefits of high interest with the freedom to access and manage your money, a high interest savings account is an ideal option.
The most attractive reason for Australian savers to choose a high interest account is the big returns that can be generated. Taking advantage of high rates of interest and low admin fees, savers get the most from their cash and can start planning for life’s big expenses. These accounts are the ideal place to store your emergency fund because generally they allow easy access to your money so you can withdraw funds whenever unexpected financial emergencies occur. The growing popularity of online banking in Australia means that savers have a wider choice of this type of saving. Online high interest accounts allow savers to manage their money without visiting the bank and offer reduced fees and greater rewards. Whatever your reason for saving, our cost-free comparison website will help you find the perfect account to suit for financial plans.
There are a number of features you should take into consideration when comparing high interest savings accounts. The rate of interest is what makes these accounts attractive, so have a look at what each banks offers using our comparative table. Most banks have no minimum amount of cash to set up an account, and no fees on account services. There should also be no charge for direct debits and other transactions.
Banks set their interest rates according to the Reserve Bank of Australia’s official cash rate, generally matching or bettering the rate. Australian banks also offer promotions to attract savers. These include higher rates for introductory periods, typically four months, after which the rate will drop to a lower standard rate. Other accounts offer bonuses for making regular deposits or making no withdrawals, good incentives to keep you saving. While introductory rates are good for short-term savings, a constant ongoing high rate will work out better for long-term savers. Having compared the features of different high interest savings accounts, considering what best suits your financial plans and habits, you are able to find and apply for the best suited account.
High interest savings accounts are suitable for anyone who wants to enjoy the benefits of higher rates while still being able to access their money whenever they need to. Unlike term deposits savers can still move money about and make withdrawals as necessary, although there are often better rewards if savings can be left untouched. Many Australian savers find the features of online high interest accounts suit their lifestyle, so check out these accounts when comparing the market. Once you have you have compared the deals that the banks are offering, you can apply today and start enjoying the rewards of your new high interest savings account.
The main benefit of high interest savings accounts is the growth on your savings that they generate. Your hard earned money can start working for you, making the most of the competitive rates that banks are offering. If you choose an online savings account with high interest rates then you will experience the added benefits of managing your money independently and the rewards of reduced fees and higher rates.
Using our comparison tables, completely free of charge, you can find the best deals and highest rates that the leading banks are offering. Whether you want to make the most of banks’ introductory promotions for short-term savings, or reap the rewards of an ongoing high rate for long-term financial plans, you can apply today and start growing your cash straight away.
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