Australian High Interest Savings Accounts

1. ING Direct Savings Maximiser



Bottom Line: ING Direct are the world's leading provider of personal savings accounts. The ING DIRECT Savings Maximiser has no bank fees, no hidden catches and no minimum balances. In short, nothing to stop you earning a high variable interest rate on every dollar you deposit.

ING Direct savings accounts give you:

• High Interest of 4.75%
  
• No Bank Fees, Ever
• No Minimum Balance
• Interested calculated daily
  

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Website
www.ingdirect.com.au


2. St.George Direct Saver




Bottom Line: This big four bank is leading the way with a high interest savings account which has no fees and no minimum balance.

Apply online and receive:

• variable interest rate of 4.75% p.a
• No minimum balance
• Unlimited fee-free phone and Internet banking

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Website
www.st.george.com.au


3. Suncorp's eOptions



Bottom Line: Suncorp brings you an online saving account with no catches and a great online saving rate. There are no account keeping fees just great rates.

Suncorp eOptions give:

• 12 month lead rate of 5.05%
  
• NO minimum balance or deposit amount

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Website
www.suncorp.com.au


4. Members Equity Bank




Bottom Line: Members Equity Bank are one of Australia's leading providers of personal finance. With no hidden fees or charges Members Equity brings you piece of mind, a great savings account the highest savings rates in Australia.

You receive:

• Members Equity Saving Account - 4.00% p.a.
• No Promo Rates
  
• No Bank Fees
  
• Earn on every, every day

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Website
www.membersequity.com.au

Internet Savings Accounts

In today’s world where the hyperactive marketing strategies are always tempting us into spending our hard-earned money, savings almost seems like a virtue. Whether it’s for buying that long-yearned plasma screen or for a splendid holiday or to build up wealth or just for rainy day, savings needs to be done in an organized and regulated way. In this regard, Bank savings accounts are probably the most conventional and safest way to get started with savings.

The bank and the type of saving account you choose would largely depend on the flexibility you would want to have in order to access the money in your savings account along with the rate of interest you would want to earn. For example some banks offer bonus rate of interest for the month you do not withdraw any money and on the same lines there is no interest paid for the month any money is withdrawn from the account or if the account is closed down.If you are keen on savings and would like to have an option where you have an incentive to let go the inclination to dig into your savings account then you should consider a high interest savings accounts. Online saving accounts is relatively a new concept for the people in Australia. The Australian banking sector has to be ready with some instant, clever combating- strategies to compete with the benefits offered by the Online Saving Accounts.

A whole lot of Online Saving Accounts services providers are willing to offer the highest rate of interest for the Internet-only saving accounts along with very tempting ‘free of charge banking’. Most of the banks also have other incentives like- no opening deposits required, no minimum balance maintenance required, no minimum term of investment and no withdrawal notice required. The only hitch here is that the customers/account holders can’t access money from their online saving accounts via Automated Teller machines and branches. Every time they want to pull out money out of their accounts they will have to do it using telephone or Internet banking.

People who find it hard to resist eating into their savings for unnecessary expenses, this will prove to be a boon in disguise. That extra distance created between the ATM and the money in the saving account will call for advance planning for expenditure and probably this could lead to cutting down on wasteful expenditures.Other benefits of online savings accounts would be –* Unlike traditional savings accounts, Online savings account can be opened online without having to wait in queues and filling up forms etc

* Online savings account holders most of the time get the best available interest rates in the banking sector and the record shows that a lot of times the high interest rates offered by online savings accounts has beaten the highest interest rate offered for rest of the savings accounts.

* Though the rates of interest are directly affected by the fluctuations in the interest rates in the market, they have been fairly consistent and stable for quite some time now. Hence those who have had concern of fluctuations in the interest rate too can now avail advantages of online savings account.

Read more articles on Savings Accounts at: http://www.savings-accounts.com.au

The Basics of Savings Account

If you are looking for a way to make a financial investment, among the simplest ways you can do so is by opening a savings account. Among the best things about this option is that you are sure that you will not be scammed out of your hard earned money. The problem with some financial investments is that they tend to make sweeping statements and use hard sell marketing to lure in customers. But in the end, they will simply turn out to be a scam which stripped you off the money you have seriously worked hard to earn.

However, opening a savings account instead is very safe not to mention truly rewarding as well. The most important thing you need to keep in mind is that a savings account is opened in legitimate banks so from that point forward you can be sure that you are on the right track. A savings account grows interest rates and this is how you get to maximize it as an investment. Usually, there’s a minimum requirement that must be in possession of the bank before you can gain interest. This is helpful because it assures the bank that they can make your money cycle.

So how do savings accounts work if you don’t do anything with them? Do they automatically spur out profits just because they rest inside the bank? Well the answer to that is yes. What actually happens is that banks use these savings accounts for investing in other financial ventures. They may choose to buy various shares and stocks or venture off into other businesses. You might think now, so how do they get to maintain all those money if they use it for other purposes? Well, of course these ventures do work out and they work out well. As the banks accumulate more and more revenue and profits from these ventures, they share those off with their customers via high interest accounts. This is the reason why the longer you deposit without touching it and the bigger the amount of money you deposit and leave untouched, the bigger the interest you accumulate.

A savings account comes in different form. The most typical perhaps is the ATM or debit cards. These ATM cards work by depositing a specific amount into your account which you can freely withdraw anytime you need it. But since ATM cards tend to be frequently used, they have minimal interest rates attributed with them. Another type of savings account comes in the form of passbook. This is the little booklet where all your bank transactions are being recorded. A passbook savings account can have bigger interest rates than ATM cards because they usually require a bigger maintaining balance.

The biggest earning savings accounts in terms of interest is the time deposit accounts. These time deposit accounts are also known as dormant savings accounts because they remain literally untouched over a specified period of time. Even if you already need it, you cannot easily withdraw money from a time-deposit account because of specified reasons.