What is a good savings account interest rate?

Savings accounts used to pay less than term deposits, but no longer. A good high interest online savings account now provides at-call access to your money whilst also paying a good rate, if the terms and conditions are met. Usually these conditions will be something like a minimum amount of deposits per months and no or limited withdrawals.

Some savings accounts are now paying well over three per cent in total interest, including bonus rates. For example the ME Online Savings Account has a total rate of 3.60 per cent (conditions apply).

Source: Bankheadlines.com.au

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