MOVE Bank hikes ongoing savings account interest rate to 5.70% p.a.
One customer-owned Aussie bank is making moves against some of the market’s largest institutions, and it's in the lead when it comes to ongoing savings account interest rates.
The 5.70% p.a. promised by MOVE Bank’s Growth Saver account is available on balances of up to $25,000.
Account holders must deposit at least $200 and make no withdrawals each month in order to realise the bonus rate.
If they fail to do so, they will realise the base rate of 0.10% p.a.
It’s a similar story with many of the highest rate savings accounts on the market.
ME Bank’s HomeME and ING’s Savings Maximiser each demand depositors meet certain conditions to realise their respective maximum rates of 5.55% p.a. and 5.50% p.a.
On the other hand, Australian Unityrecently bolstered the interest rate offered on its unconditional Freedom Saver account to 5.50% p.a., making it the highest rate account of its type.
Looking for more of the market's leading savings account interest rates? Check out the chart below.
Special offer: Savings Accelerator (Kick Starter offer).
For a limited time, new ING customers can get a bonus 0.70% p.a. on their savings rate on balances of $150,000 up to $500,000 for the first 4 months. T&Cs apply.
If your balance is over $500,000 (but less than $5 million) you will earn the ongoing variable rate of 4.7%
Disclosure
FEATURED
Savings Accelerator
Special offer: Savings Accelerator (Kick Starter offer).
For a limited time, new ING customers can get a bonus 0.70% p.a. on their savings rate on balances of $150,000 up to $500,000 for the first 4 months. T&Cs apply.
If your balance is over $500,000 (but less than $5 million) you will earn the ongoing variable rate of 4.7%
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Harry O'Sullivan
Denise Raward
Aaron Bell
Emma Duffy
