prawn_86
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Their website says 'up to' 5.11%
Interest Rates
- Thread starter Largesse
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Their website says 'up to' 5.11%
Bill M
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For new customers yes but for existing customers there is a loyalty bonus which is 1.16% above their 4.30% totalling 5.46%.
Check it out under the existing customers heading here: http://www.rabodirect.com.au/high-interest-savings/default.aspx?lnk=prd-box
Julia
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A relevant point I've noticed is that sometimes an offer will appear on www.infochoice.com.au which does not appear on the institution's website.
Bill M
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UBank has done it again! They have sneaked in another rate drop, down to 4.66% including bonus. (No notification emails sent)
https://www.ubank.com.au/index.htm
The reviews they are getting are nearly all negative now. Click on the link above then on the interest rates, then on reviews to view.
https://www.ubank.com.au/index.htm
The reviews they are getting are nearly all negative now. Click on the link above then on the interest rates, then on reviews to view.
Bill M
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Some good news here, new and existing customers can get 5.10% interest for the next 12 Months with ME Bank, might be worth a look.
http://www.mebank.com.au/promotions/HigherForLongerDec2012/index.html?src=WEB_SAVINGSDISPLAY_1212
http://www.mebank.com.au/promotions/HigherForLongerDec2012/index.html?src=WEB_SAVINGSDISPLAY_1212
Julia
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Thanks for that, Bill. I hadn't heard of ME Bank. Google shows they are owned by Industry Super Funds, Melbourne based, APRA regulated.
Why do you think they are offering a rate considerably higher than most other institutions?
(ANZ last Friday dropped their at call rate to 4.75%.)
Why do you think they are offering a rate considerably higher than most other institutions?
(ANZ last Friday dropped their at call rate to 4.75%.)
Julia
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Have just checked with ME Bank. The offer is not available to SMSFs.
Bill M
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My best guess is that for the last 2 years they were no where near the best and they probably lost a lot of customers and now they are mostly likely trying to claw them back. It seems to me all of these banks do own promotions at different times, I guess ME Bank is having their turn now. They also have a competitive home loan rate at present, maybe they need funding?
With customers (like myself) scrounging around for the best rates I think it pays to stay on top with rates. I have no loyalty or hesitation to change banks when the situation arises.
Rabo HISA is still good until the end of January too.
Julia
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Agree on both counts. RABO is one of the few banks (as far as I can see) that actually offers existing customers a better rate on the HISA than new customers, currently 5.16%.With customers (like myself) scrounging around for the best rates I think it pays to stay on top with rates. I have no loyalty or hesitation to change banks when the situation arises.
Rabo HISA is still good until the end of January too.
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Julia, What I see is 4% standard with another 0.81% bonus.
Bill M
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That is for new customers. For existing customers their rate is 5.16%, that is what I was referring too.
Click on the following link and then click on existing customers and you will see that rate, cheers.
http://www.rabodirect.com.au/high-interest-savings/
Julia
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As I initially saw it too, oldpos. That's the headline on the website. As Bill has said, you have to pursue the link for "Existing customers". I'd not have found it had I not phoned Rabodirect because it's been so long since I accessed my accounts there I'd forgotten my PIN, and asked about the various rates on offer at the same time.
It's not unlike ANZ not advertising its at call online a/c on its main website, but just making it available via e.g. Infochoice.
Not sure if that's still the case but it was a year or so ago.
Garpal Gumnut
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Thanks all.
Am going to cash and looking to a 12 mo bedding.
Much appreciated.
Ain't ASF a good forum for info.
gg
prawn_86
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Citi has an account with 5.1% for the first 4 months for new customers. BEst i can find at the moment as i am moving my funds away from Ubank
http://www.citibank.com.au/aus/banking/savings_accounts.htm
http://www.citibank.com.au/aus/banking/savings_accounts.htm
Bill M
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Be on your guard ladies and gentlemen, for the customers that opened their RaboDirect HISA before 30 September 2012 your interest rates have just dropped to 4%. No bonuses are going to be paid.
I am transferring all mine out to MEBank, they are paying 5.1% and it is the best online rate I can find, cheers.
I am transferring all mine out to MEBank, they are paying 5.1% and it is the best online rate I can find, cheers.
Julia
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Thanks for that, Bill. I've just checked and mine has also dropped to 4%. Thank goodness I didn't transfer at call cash there.
I guess they did only offer that bonus rate for a set period and that has now expired.
Gives a good indication as to how flush with funds the banks are and will push more liquidity into the sharemarket as it looks for a more profitable home.
Knobby22
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I've always put my cash in ME. They treat you honestly and give you a good rate without you having to call them. Big banks are such a pain.
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UBank has risen from 4.66% to 4.91% (with savings bonus), making it higher than any other accounts I know of, although they may rise soon as well.
Seems these accounts are always changing places as they fiddle with the rates. I'm happy to stay with UBank because of the no withdrawal conditions and the high rates don't expire.
Seems these accounts are always changing places as they fiddle with the rates. I'm happy to stay with UBank because of the no withdrawal conditions and the high rates don't expire.
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I have accounts with UBank and ING.
I very recently moved my ING money to ME Bank. I just got sick and tired of seeing all these ING offers for new customers where they get a bonus $50 for opening an account, yet there's barely any loyalty for current customers.
I very recently moved my ING money to ME Bank. I just got sick and tired of seeing all these ING offers for new customers where they get a bonus $50 for opening an account, yet there's barely any loyalty for current customers.
Julia
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That's just an obvious means for the banks to attract new customers. They have to continue to seek growth.
Perhaps consider loyalty to a bank over some years and you might get some benefits back.
I know that will be an unpopular view as most people make it their mission to hate banks, but it has worked for me.
