melaniee

Can anyone recommend some good savings accounts?

Is there anything like ISAs?

tin

We have a HSBC account which is pretty good and pays 5% interest. Have a look at this thread - it's about bank accounts in general but still useful: http://britishexpats.com/forum/showthread.php?t=356706

Martyn

thribble

5.25% on an ANZ progress saver is what we're getting (and you get a free pig!).

Term deposits seem to be pretty common here - save a lump over 3, 6 months or longer, and get a guaranteed good interest rate.

They even tax their kid's savings accounts - I can't see that there'd be an ISA equivalent.

Fenton Beasley

Bankwest Telenet saver account. 6.40% for the first year. Worry about the second year later.

You don't even have to be an Aussie citizen or permanent resident

NedKelly

HSBC 5.90% instant access.
But make sure you don't make a withdrawal!

http://www.hsbc.com.au/personal/acco...ioussaver.html

touchingcloth

assuming that there is an interest rate increase in Oz soon.

How long will it be before they are reflected in bank savings rates?

I'm looking for 7%!!!

TC

sassie

I would recommend ING Savings at 5.85%, however with ING you have to have the account linked to another account, in which to transfer the money should you need to access it.

brisnick

For those in QLD, Suncorp have a number of savings accounts offering 5.6% and above, instant access with no penalties.

Tiff Couch

Hi All

Tiffany here from Westpac Migrant Banking.

We are able to open accounts for you before your arrival in Oz. You can start transferring money before you leave and once you complete an ID check ( just show your passport) at one of our branches you'll be able access your money, order atm cards, cheque books etc.
We offer you a package known as 'Westpac One'. This is a combination of a main/transaction account and a choice of one of two (or both if you wish) savings accounts. You can opt for the Westpac One Savers Account, this account offers 5.8% (this will increase to 6.05% on Aug 7th following recent int. rate increases). You must make one deposit each month and no withdrawals to be eligible and interest is paid on balances up to $250,000.
The other option is an on-line savers account called 'Maxi Direct'. Interest is tiered & depends on your balance with rates of up to 5.65% (increasing to 5.85% on 14th Aug). Interest is calculated daily and paid monthly with no capping. There are no limits on withdrawals or deposits.
There is an account keeping fee of $5.00 on the main transaction account with unlimited Westpac atm withdraws/cheques etc. The savings accounts are fee free.
We can also assist you with credit card and home loan applications both before and after your arrival.
For more info visit our website www.westpac.com.au/migrantbanking or email me at [email protected]

Cheers

Tiffany

NedKelly

I think we have covered most banks now

skywalker

not yet...
commonwealth 5.65%