Friday, April 28th 2017

Question

What bank has the highest interest rate in Australia?

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25th Jun 2012 by Fariba mahmoodi - Australia Specific

Hi

I am Canadian living in Germany ,and I would like to open an account in Australia which give a good interest, I can lock it for one or two years can u please tell me if it is possible for me to open an account in Austraila and how

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24th Nov 2009 by Tobias John Sterling

This is a fairly meaningless question, as the answer can only ever be 'it depends'. For example, it depends whether you consider only bricks-and-mortar banks such as Westpac, ANZ or the Commonwealth Bank, or whether you include online-only banks such as UBank (which is in fact backed by bricks-and-mortar bank nab). It also depends whether you take into account introductory bonus rates that reset to a lower amount after a certain period of time, and whether you include term deposits that require a minimum investment of a certain amount of money (which could be as much as $25,000). Another factor is whether you include 'internet savings accounts' which you can open and use only if you also have a regular account with the same bank, on which monthly fees will likely be charged. In any event, for what it's worth (not much), at the time of writing (Nov 2009) interest rates for savings accounts and term deposits were in the vicinity of 4.90-6%.

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5th Nov 2009 In Investing 2 Answers | 1704 Views
Subjects: bank interest rate, higest interest rate, interest rate,

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