Online Savings

Are you searching for an online savings account?

All Home Loan

Updated on 06 July, 2022

“Sponsored” products are displayed first within the search results pages and can be re-sorted without this filter by de-selecting the “Show sponsored listings first” option. They will have a link to a product provider’s website should you wish to get more information or apply for the product. We have a commercial marketing relationship with these providers. For more information on how we’ve selected these “Sponsored” and “Featured” products, how we make money, the products we compare and other important information about our service click here. The default sort is based on max interest rate. Max. monthly interest figures are estimates only and exclude fees. Not to be relied on for financial decisions. Actual repayments will depend on your individual circumstances, account terms and interest rate changes.

Ever wondered what your property is worth?

Get your free InfoChoice Property report.

Get FREE Property Report Now

Online Savings Accounts

Looking for a high interest savings account with little or no fees? Then an online savings account could be just what you are looking for. Online savings accounts offer higher rates of interest ‘at call’ in return for more restricted account access. Usually no over-the-counter or cheque facilities are available, with account holders encouraged to make internet or telephone transfers. Most online savings accounts will need to be linked to an everyday transaction account, either the same bank or you can link to any existing account you may have with another provider – it’s important to keep an eye out when applying.

Online Savings accounts are also a variable rate which means they can fluctuate up or down, banks will often offer high interest bonus rates on new accounts to entice new customers. Often these inflated rates will only last for a short period of time and will eventually drop back down, when comparing online savings accounts always check the standard rate this is likely to be the interest rate you’ll receive once the bonus offer comes to an end. Another type of bonus rate is sometimes offered if customers set up a regular savings plan, depositing a minimum weekly or monthly amount. If you are able to save money regularly then taking advantage of these bonus interest rates will help you save faster.

With the emergence of Internet in all aspects of life, online savings accounts have gained importance. Banking and other financial solutions can now be performed in a lot smarter manner with online savings accounts. Online savings accounts are meant for salaried professionals, individuals, students and housewives. Depending upon the guidelines laid by the state government and the laws of the land, banks may provide bi-annually interest to online savings accounts.

Online savings accounts are the usual savings accounts which can be accessed online with the help of secured net banking password and user name. Online savings accounts can provide great amount of flexibility to one and all.