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Deposit rates go up

04/11/2009

The Reserve Bank of Australia yesterday raised official interest rates by 0.25 per cent to 3.5 per cent, the second rate rise in one month.

Three of the big banks have already announced that they are passing on the rate rise to customers with basic savings accounts.

Commonwealth Bank and NAB are boosting rates on basic accounts by 0.25 percentage points, while ANZ is going even further and boosting rates on deposit accounts by 0.35 per cent.

Source: Sydney Morning Herald

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Today's Savings Rates

Institution Product Max. Rate (%) Details
USaver (Base Rate 5.41%, Bonus 0.60% with savings plan) 6.01 Details
ANZ Online Saver (6.00% p.a. until 30th June 2012) 6.00 Details
Savings Maximiser (5.85% p.a. variable intro rate for 4 months on balances up to $250,000) 5.85 Details
Citibank Online Saver (5.80% Variable intro rate for 6 months on balances up to $500k) 5.80 Details
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