Best Sav­ings Ac­counts Best Sav­ings Ac­counts – Reg­u­lar De­posits

GOLD WIN­NERS BANK RABODIRECT NON-BANK EASY STREET To help you re­sist temp­ta­tion, an en­forced wait­ing pe­riod can pro­tect your stash

Money Magazine Australia - - CONTENTS -

In a low-in­ter­est-rate en­vi­ron­ment, it’s im­por­tant to think about the best place to stash your cash, and a rel­a­tively new type of ac­count – a no­tice saver – acts like a hy­brid be­tween a tra­di­tional sav­ings ac­count and a term de­posit.

With RaboDirect’s No­tice Saver 31 Day, which won this award in 2018, you’ll need to pro­vide 31 days’ no­tice, ei­ther via on­line bank­ing or us­ing a mo­bile app, to with­draw funds. That’s not a bad thing as it would make you think twice be­fore dip­ping into cash re­serves.

How­ever, the wait­ing pe­riod is ap­plied strictly: RaboDirect warns that your money can­not be ac­cessed early un­less you a statu­tory dec­la­ra­tion as ev­i­dence of fi­nan­cial hard­ship.

Easy Street is a divi­sion of Com­mu­nity First Credit Union, and its Easy Sav­ings On­line ac­count is a straight­for­ward ac­count with no com­plex con­di­tions. It pays a de­cent rate of 2%. A reg­u­lar sav­ings plan is avail­able.

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