Cash & Bonds Best return for SAFE short term money .

We've started the process of paying it off .

Cliff

 

Anyone have recommendations for savings accounts with decent interest rates that don't need you to transfer money in and out to get the good rate? Just want to park and check it occasionally

 

For personal savings accounts, I've referred to this whirlpool spreadsheet before which lists most AU accounts and their rates (companion thread is here). It also lists bonus interest requirements, if any, you can rule those out as you see fit. Not my recommendations below, just having a quick look:
e.g.
AU Freedom Saver - 1.7%-2.5% depending on balance (2.15% on 50K-250K)
AMP Saver - 2.55% for 4 months then 2.1% thereafter

 

Is it that much of a nuisance to setup a Ubank account then simply transfer $200 a month into it to get the better rate? That’s all I’ve ever done. Withdrawals don’t impact the bonus rate which can be a pain with numerous other accounts.

To qualify for the Ultra Bonus interest there are three things you must do:

1. Hold a USaver Ultra account.
2. Deposit at least $200 during the month into your USaver Ultra or its linked USaver Savings account from a non-UBank account (for example your salary).
3. Maintain a total balance of not more than $200,000 including USaver and USaver Ultra, inclusive of all joint accounts.

 

I always thought it rather easy to set up a recurring transfer on 1st of every month from the transaction to the savings account. Hardly a reason not to since bonus interest is well worth the 5 min set up.

 

Yes I agree totally. So easy and takes bugger all time to setup whatever method one chooses. I’ve used Ubank for years and I’ve been very happy with it. More consistent with their higher rate than many others over the years which I’ve setup but then closed later because of the reduced rate over time.

 

Thanks. I actually didn't really look into so if it's that easy then it's fine. I wonder why they have that upper limit though lol (not that I have remotely that much cash)

 

Bringing back this old thread.

Anyone noticed ING now up to $100K for bonus rates and the balance end of the month should be higher (restricting withdrawals)

 

This may be of some use to those who use ING for paying utility accounts. Not of any use to me though.

 

INGs best one is the Orange debit card. When you meet qualifying criterea and then in the next month you spend overseas (or buy from a foreign site in a foreign currency) they refund all foreign ATM fees, local ATM fees AND direct and indirect foreign transaction charges on international payts or cash outs. This can be 2.6% of every single cent spent while overseas and some ATM are $8-$15 AUD. The credit hits the bank account usually immediately but often within 24hrs. The app even tracks it under a tab called "benefits". My last trip in Europe was $267. It doesnt count those dodgy hole in the wall ATMs that add a fee to the sum drawn out in cash.

Qualifying criterea is - Deposit $1K in the prior month from OUTSIDE ING. Five EFTPOS or card transactions...In the prior month.

Tip : While travelling move $1K into the account to remain eligible.

 

It is also handy ING participates in Osko enabling quick funds transfer to other participating banks.

Osko by BPAY