Savings accounts bonus rates still looking healthy

Bonus rates now available from online savings accounts are, on average, higher than the current average three month term deposit rate.

Bonus rates include a base savings rate plus an extra bonus rate paid when the saver meets a specific criteria. Making regular deposits and no withdrawals is a typical pre-condition to getting a bonus savings rate. Even though rates have fallen in recent years, savings accounts are still offering bonus rates of around three per cent, well above inflation.

Source: The Age