5+ high interest savings accounts in August 2024 (and how to choose)

It has been a while since we’ve discussed savings accounts and making sure you’re getting a decent interest rate on your hard-earned savings.
But savers rejoice! Your time to shine has come.
In this podcast, Kate & Owen share some tips on making the most of your savings, why shopping around for a better interest rate matters (especially now) and some of the best interest rates around on savings accounts and term deposits.
This episode was recorded on the 16th of August 2024.
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DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser.
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[@gavinryan4166]

Macquarie Bank has a transaction account that gives 4.75% on every dollar in there. No minimum deposit, no other conditions. It’s a great start!

[@RaskFinance]

Thanks for sharing!

[@michaellytra5122]

Ubank pays .75% more for the first 100k and .25% more for balnce over 100k up to 250k. making transactions from this account doesn't affect the interest rate. Just deposit $500 every month it doesn't need to stay there send it back to where it came from very simple.

[@michaellytra5122]

I have most of these accounts that you have mentioned I have a simple plan that I have been using for months that makes it easy to manage all of these at the same time.

[@SonyYeung]

Thanks you both of you for your information

[@viet5929]

Ubank is 5.5% for the first $100K.
Any feedback on Australian Unity?

[@RaskFinance]

5.5% is a great rate. We can only cover so much in one episode. Thanks for the tip mate! ~ Owen

[@JoeHalloran-vc3my]

I have the ING account and I just buy 5. $1 Amazon gift cards at the start of the month which satisfies that criteria

[@RaskFinance]

Hahaha cheeky! Love it

[@marionjoy-if3lp]

thank you .. great information

[@michaelstk2817]

That’s good information for the average consumer.

[@gavinryan4166]

Note maximum in AMP is $250k and Macquarie $1m (but govt guarantee is only up to $250k of course).

[@RaskFinance]

Thanks Gavin. Good spot and comment.