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Banks boost online savings rates

09/10/2009

ANZ has announced that rates on selected deposit products will rise by up to 0.50 per cent. The increases include the ANZ Progress Saver, up 0.50 per cent and V2 PLUS up 0.50 per cent, which will be effective from 12 October. ANZ’s term deposit rates have increased by up to 1.0 per cent since April.

The Commonwealth Bank announced the deposit interest rate on the NetBank Saver and Business Online Saver accounts will increase by 0.25 per cent, effective Tuesday 13 October.

NAB will also be increasing a range of variable business lending and business deposit rates by 0.25 per cent on Monday, 12 October 2009.

Source: ANZ, CBA, NAB

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Today's Savings Rates

Institution Product Max. Rate (%) Details
Citibank Online Saver (5.70% Variable intro rate for 4 months on balances up to $500k) 5.70 Details
RaboDirect Savings Account (up to 5.60% 4 month special variable rate up to $250k) 5.60 Details
Savings Maximiser (5.60% p.a. variable intro rate for 4 months on balances up to $250,000) 5.60 Details
HSBC Serious Saver (5.55% variable intro rate for 4 months on balances up to $1m) 5.55 Details
USaver (Base Rate 4.91%, Bonus 0.60% with savings plan) 5.51 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.



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