The Reserve Bank of Australia (RBA) has moved to support borrowers, cutting the official cash rate by 25 basis points to a new low of 3.60%. But what's good news for home loan holders could be bad news for savers, with banks already beginning to reduce their savings rates.
If you’re weighing up ING’s savings accounts, these two options compete by offering different ways to earn interest – one through monthly activity, the other through higher balances.
As Australia approaches 2026, the outlook for savings rates is marked by an expectation of further rate cuts by the Reserve Bank of Australia (RBA). After a period of aggressive hikes from 2022 to mid-2025 to combat inflation, and a series of cuts beginning in early 2025, the RBA's focus is shifting toward supporting economic growth. This is a contrast to the high-yield environment savers enjoyed in 2024 and early 2025.
It’s hard to believe, but we’re already over halfway through 2025, and Christmas will be here before we know it.
Seeking a competitive savings account? Two digital options consistently offering leading rates on Mozo's database are the Rabobank High Interest Savings Account and ubank Save.
If you’re looking to grow your savings faster, two of the top performing savings accounts in the market right now are the ING Savings Maximiser and the AMP Bank GO Save account.
Rising prices at the checkout, at the petrol pump, and pretty much everywhere in between have pushed many Aussies to re-evaluate their weekly budgets. And while inflation may have cooled slightly, cost-of-living pressures are far from over.
Despite the Reserve Bank of Australia (RBA) keeping the cash rate at 3.85 % at its last meeting, Australian banks have been aggressively trimming term deposit rates in recent weeks.
If you’ve got plans to kick-start your savings nest egg this new financial year, popular digital bank ubank, has just made some changes to its High Interest Save Account including a higher balance limit you can earn interest on, and for new customers, a 5.00% p.a. welcome rate for the first 4 months.
Savings rates are slipping again – and for Aussies trying to grow their nest egg, that means finding smarter ways to save has never been more important.