Savings rates slashed

Interest rates are a key concern of bank customers and this month’s rate changes may add to the anger.

While the Reserve Bank has slashed official interest rates by 0.50 per cent this month, one big bank has jacked up rates on credit cards and only one bank has delivered any rate relief at all to credit card users.

Meanwhile savings rates have been slashed and only limited rate relief has been passed through to home loan borrowers.

Source: Courier Mail