Normal
They are but only when you use one of the accounts that requires you add X amount to it per month to get the "bonus" rate.The rest of them run what are effectively teaser rates - a certain level of interest but only for 3 or 4 or 6 months or whatever. Shows you that the banks don't expect rates to be held this high for long.[ATTACH=full]158062[/ATTACH][ATTACH=full]158063[/ATTACH][ATTACH=full]158064[/ATTACH]Notice how the 2 year is actually a lower rate than the 1 year?There's far better accounts out there (like the ones from HSBC I've shown before) that while having the same "you've gotta top them up a bit each month" caveat they compound monthly and so this gives a significantly better annual rate.You're obviously exposing yourself to monthly rate fluctuations rather than locking one down for the year that way but if you were betting on the RBA not cutting any time soon then they would be the way to go.
They are but only when you use one of the accounts that requires you add X amount to it per month to get the "bonus" rate.
The rest of them run what are effectively teaser rates - a certain level of interest but only for 3 or 4 or 6 months or whatever. Shows you that the banks don't expect rates to be held this high for long.
[ATTACH=full]158062[/ATTACH][ATTACH=full]158063[/ATTACH]
[ATTACH=full]158064[/ATTACH]
Notice how the 2 year is actually a lower rate than the 1 year?
There's far better accounts out there (like the ones from HSBC I've shown before) that while having the same "you've gotta top them up a bit each month" caveat they compound monthly and so this gives a significantly better annual rate.
You're obviously exposing yourself to monthly rate fluctuations rather than locking one down for the year that way but if you were betting on the RBA not cutting any time soon then they would be the way to go.
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