BEST SAVINGS ACCOUNTS – REGULAR DEPOSITS

GOLD WINNERS BANK ME NON-BANK CUA Bonus interest can help build up that all-important financial buffer

Arecent ME Bank report found one in four households have less than $1000 in cash savings, leaving many Australians vulnerable to unexpected bills or emergencies. Clearly it’s time to get serious about saving, and plenty of accounts offer bonus interest as an incentive.

ME’s Online Savings Account takes a different approach. The base rate is 1.30%; however, by opening an ME Everyday Account and using the linked debit card to make at least one tap&go payment each week, a bonus rate of 1.55% applies, bringing the total return to 2.85%.

CUA’s eSaver Boost encourprovide ages regular deposits by paying a top rate of 2.75% in months when at least $250 is tucked away in the account and no withdrawals are made. If these conditions aren’t met, the rate drops to 0.25%. Unlike many savings accounts, CUA pays bonus interest on savings up to $500,000.