The bank account shake up

Friday 16 July 2010

Article by Mozo

Not long ago we wrote about the perils of leaving your money sitting in your bank account instead of a savings account. The amount of interest (read: free stuff!) people throw away every month is just staggering.

Well, it seems the banks were listening, because the market is now laden with new innovative accounts which address that very issue.

So if your current bank or savings account needs a kick in the pants, check out our top hybrid bank accounts…

<#AMP First#BankAccount#79#> – an everyday bank account that pays 5.15% interest? You bet. For a piddly $5 a month you get a great interest rate, plus unlimited free transaction on the web, phone and at NAB and Redi ATMs.

<#St George SENSE#BankAccount#131#> – a great new account that takes the hard work out of saving. Everyday purchases are rounded up to the next dollar and the extra money is automatically transferred to your linked St George SENSE savings account where you get 4.85% in interest. Account fee $5.

<#Suncorp Bank Everyday Options#BankAccount#11#> – seamlessly link multiple high interest savings accounts to your everyday account for free to get 4.75%. Plus get unlimited transactions, and the option for a Visa Debit card (you can even put your own photo on it!). All for 5 bucks a month.

Also new to the savings market is the <#USaver Reach#SavingsAccount#165#> from UBank – a 6.51% interest account for people aged between 18 and 29 who have less than $5,000 in savings. No monthly conditions or bonus rate end dates, just big savings.

And in other great news for savers, savings account interest rates continue to climb! UBank lead the pack with the <#UBank USaver#SavingsAccount#127#> 6.51% p.a. with &lt;#RaboDirect High Interest Savings#SavingsAccount#8#&gt; close behind 6.40% p.a.

Back to top