Savings account rate changes

These banks haven’t passed on a rate cut to savings accounts in July

Dozens of institutions have passed the two consecutive rate cuts onto their savings account products, hitting those who rely on earning interest to supplement their income.

By William Jolly ● July 26, 2019

Commonwealth Bank slashes savings account rates

Commonwealth Bank has stung savers by cutting interest rates on its savings accounts by up to 25 basis points, making it the last of the big four to reduce savings rates this month.

By Alex Brewster ● July 23, 2019

Westpac, NAB & others cut savings account and term deposit rates

This week’s rate changes on the savings account and term deposit market saw more banks cutting interest rates, with Westpac and NAB headlining the latest movements.

By William Jolly ● July 19, 2019

UBank cuts savings account interest rates again

UBank has today slashed the interest rates on its savings accounts by 19 basis points, taking the maximum rate on its ‘USaver with Ultra’ account down to 2.41% p.a.

By Alex Brewster ● July 17, 2019

Who’s cut rates on savings accounts and term deposits this month?

Interest rates on savings accounts and term deposits continue to fall following the Reserve Bank’s July cash rate cut.

By William Jolly ● July 12, 2019

NAB subsidiary UBank slashes savings account interest rates

Another savings account immortalised by the Barefoot Investor, UBank’s USaver with Ultra account, has had its interest rate cut following the reduction to the cash rate earlier in June.

By William Jolly ● June 28, 2019

ANZ the last of the big four to cut savings account rates

Major bank ANZ has cut the interest rates on its savings account products by 20 basis points, becoming the last of the big four to reduce savings rates.

By William Jolly ● June 26, 2019

RAMS the latest casualty of savings account rate cuts

RAMS’ high-interest Saver Account is the latest in a growing line of savings accounts to have its interest rate cut, following the Reserve Bank’s decision to cut the cash rate earlier in June.

By William Jolly ● June 21, 2019

ING cuts max interest rate on its Savings Maximiser account to 2.55%

The ING Savings Maximiser savings account – popular among readers of the Barefoot Investor – has had its maximum interest rate lowered by 25 basis points to 2.55% per annum.

By William Jolly ● June 17, 2019

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