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Search & Compare Savings Accounts and Term Deposits

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Savings News

ASIC warns on Term Deposits

Banks and other institutions are engaging in dual pricing of term deposits and rolling investors over to lower rate term deposits when their terms expire. ASIC has found that institutions are advertising high rates on some of their term deposits and maint Read full article

Banks lower some term deposit rates

The big four banks have lowered interest rates on some fixed-term deposits. Consumer groups said savers need to carefully check term deposit rates before allowing the bank to automatically roll their deposit over to a new, lower term deposit rate. Read full article

Savers willing to move for better rates

Australian investors are currently holding around $508 billion in retail deposits, $64 billion saved during the global financial crisis. Read full article

Aussies don’t know about deposit guarantee

Only one in eight Australians surveyed consider combined credit unions and building societies to be very secure for their cash deposits.  Read full article

Term deposit rates at historical highs

The average interest rate on the major banks new deposits is currently slightly higher than the Reserve Bank of Australias official cash rate, compared with about 1.50 per cent below the cash rate before the onset of the global financial crisis.  Read full article

More Savings News

Rate Watch

27/08/2009
Rates to stay on hold, for now
After months of falls in employment, there are some signs our job market may be turning the corner.

FULL STORY

Savings Guides

Australians' $1 billion lost interest bill

Research from financial comparison experts InfoChoice shows that Australian consumers have short-changed themselves of more than $1 billion worth of interest in the past six months. Read full article

Make your money work for you

There has never been a better time to shop around for deposit accounts with some great offers outside of the big 4 banks.  Read full article

How to reduce your bank fees

With several banking products available in the market, and with different terminologies used to describe the nature of the fees charged on these accounts, it is no wonder consumers often get confused or lose track of the fees they are paying. Read full article

Should I lock away my savings or keep it at call?

In a competitive market where banks are fighting hard to win depositors cash, an excess number of cash accounts aggressively priced to offer decent returns are available... Read full article

ATM Fee Reform – how these changes will affect you

A Direct Charging ATM fee reform was introduced on March 3rd 2009, making it mandatory for ATMs to provide on screen disclosure of the charges applied to customers using ATMs that dont belong to the cardholders financial institution. Read full article

More Savings Guides

Need a savings account?

At InfoChoice, you’ll find it so much easier to choose a savings account, quickly and easily. You won’t need to spend valuable time going from bank to bank - we list 100's of different accounts right here for you to choose from. In today's market there are so many options it's hard to know where to begin, we help make it easier for you by listing products based on your needs or from a pre-selected list of accounts which you can compare side by side. Because we list many different types of accounts which offer differing features and interest rates and depending on what you are looking for will determine where you will find the account that is right for you. If you're looking for high interest savings account then you might want to take a look at the online savings accounts these generally offer the best rates due to the low maintenance costs for the providers but if you need branch access then these accounts aren't for you as they mostly offer online or phone access only. We also list a number of childrens savings accounts if you are looking for your children to start early and save for the future. Would a term deposit suit you better? Term deposits offer gauranteed returns for the period of the deposit, so if you have a specific savings target you need to hit then these can be a great option. These are just some of the savings options and you can choose even more with our savings account and term deposit search tool.  Just enter your required criteria and InfoChoice will instantly create a list of savings options based on your requirements from there you can compare savings accounts and choose the right one for you. Some accounts will have an apply button next to the listing which when clicked will take you to the providers website where you can apply or enquire online. 

When it comes to choosing a savings account or term deposit, it pays to make the right choice. Choose your savings account on your terms – not the banks.


Today's Top Savings Accounts

Institution Product Max. Rate (%) Details
USaver (Base Rate 5.85%, Bonus 0.10% with savings plan) 5.95 Details
Citibank Online Saver (Variable introductory rate for 6 months on balances under $2 million) 5.88 Details
Savings Maximiser (New customers will receive a Variable Welcome Rate of 5.85% p.a. for 4 months from account opening, on balances up to $1 million) 5.85 Details
RaboPlus PremiumSaver (Grow your balance by $200 by the end of each month to earn 5.75%) 5.75 Details
TeleNet Saver (Special Introductory Interest Rate for 12 months - variable) 5.62 Details
Institution Product Max. Rate (%) Details

The above products are some of the top rates available in the market. Based on promotional or introductory rates for an online savings account of $5,000.