Savings Account News

One third of Australians see incomes fall due to coronavirus

New research has revealed 33% of Australians have been negatively financially impacted since the start of the COVID-19 pandemic.

By Alex Brewster ● April 20, 2020

Grattan Institute estimates 3.4 million Australians could be out of work in coming weeks

Nearly a quarter of working Australians could be out of work in the coming weeks thanks to social distancing requirements to contain the spread of coronavirus.

By Emma Duffy ● April 20, 2020

How this Australian couple is saving during COVID-19

COVID-19 has shaken our worlds up in ways we could scarcely imagine just a few months ago, and for many people, their finances have taken a serious hit.

By William Jolly ● April 17, 2020

Australia's unemployment rate edges up in March

Australia's unemployment rate marginally increased in March to 5.2%, from 5.1% in February, seasonally adjusted.

By Alex Brewster ● April 16, 2020

Why is the underemployment rate important in the coronavirus era?

Unemployment is a key statistic of the health of the economy, but in the COVID-19 era, underemployment is arguably just as important.

By Alex Brewster ● April 15, 2020

ANZ & NAB join savings account rate cut conga line

Major banks ANZ and NAB have cut various savings account interest rates by 25 basis points, effective today.

By William Jolly ● April 14, 2020

Treasury tips unemployment to hit 10%, recession all but confirmed

Treasurer Josh Frydenberg said unemployment is expected to rise to 10% in the June quarter due to the coronavirus outbreak.

By Alex Brewster ● April 14, 2020

86 400 to cut savings account rate, ING to waive bonus rate criteria

Another smaller bank is cutting savings account interest rates, while a larger one is making it easier to earn interest during the COVID-19 pandemic.

By William Jolly ● April 09, 2020

AMP cuts introductory interest rate barely a week after raising it

AMP has rolled back the interest rate on its once market-leading introductory savings account, barely a week after increasing it by more than 50 basis points.

By William Jolly ● April 08, 2020

360,000 Australians apply for early super release

More than 360,000 Australians have applied for early release of their superannuation under the coronavirus assistance scheme, but there are warnings scammers are trying to exploit those impacted.

By Emma Duffy ● April 07, 2020

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