Quite complicated conditions. Damn banks. We need a Royal Commission on HISA!
I want a simple one where I don't need to worry about increasing the balance. What's the best account for that? And I probably don't want a linked transaction account since that has a minimum transaction amount also.
It's an emergency fund, so I'll keep a fixed amount like 10K and leave it there. I'd rather buy ETFs once I get a set amount in the HISA.
I'd go with Ubank personally. Only need to transfer 200 a month in, though can transfer it straight back out again as well. No need to grow the balance.
Yeah, that's not bad. You just need to remember to transfer in and transfer back every month. Got to work for that 5%. Talk about you working for your money. đ
* Unity Bank MoneyMax - currently 4.9%pa
* ANZ Save - 4.65%pa
* CBA GoalSaver - 4.65%pa
* Macquarie Savings - 4.5% pa (5.4%pa for first 4 months)
Some of these banks require a transaction account to be opened also - may be fees on that
I feel you OP. Just dump everything in a HISA, they said. The conditions are so complicated. It's like the banks are hoping that you won't meet the conditions so that they don't need to pay the extra interest rate.
I want a simple account where I don't need to increase the balance and I don't need a linked transaction account.
So disappointing.
https://docs.google.com/spreadsheets/u/0/d/145iM6uuFS9m-Rul65--eFJQq_Au7Z_BA4_CwkYwu2DI/htmlview
Quite complicated conditions. Damn banks. We need a Royal Commission on HISA! I want a simple one where I don't need to worry about increasing the balance. What's the best account for that? And I probably don't want a linked transaction account since that has a minimum transaction amount also. It's an emergency fund, so I'll keep a fixed amount like 10K and leave it there. I'd rather buy ETFs once I get a set amount in the HISA.
I'd go with Ubank personally. Only need to transfer 200 a month in, though can transfer it straight back out again as well. No need to grow the balance.
Yeah, that's not bad. You just need to remember to transfer in and transfer back every month. Got to work for that 5%. Talk about you working for your money. đ
I just set up an automatic transfer so I don't even have to think about it.
FYI thatâs going up to $500 next month
Yep. I saw
do they have a phone number to speak to someone and get assistance on all of it or is it really strictly online only?
They have people to speak to though I've never needed to. https://www.ubank.com.au/contact-us
Macquarie Bank. 4.5% with no conditions at all and award winning App.
I have five different banks apps and Macquarie is by far the best.
Cool. No conditions is good.
Search ârecommendations on a high interest savings accountâ on this sub and youâll get answers from the 100s of similar posts each month.
closer to 200 mate
* Unity Bank MoneyMax - currently 4.9%pa * ANZ Save - 4.65%pa * CBA GoalSaver - 4.65%pa * Macquarie Savings - 4.5% pa (5.4%pa for first 4 months) Some of these banks require a transaction account to be opened also - may be fees on that
Mate, just Chuck it in Ubank 5% pa and only $200/month deposit.
Do you have to have a transaction account with them first?
When u open a ubank acc will have both
Ah I see, are there monthly or annual fees with either of those accounts?
Use the spreadsheet linked elsewhere in this thread. Rabobank have 5.6% for 4 months. ING have 5.5% ongoing, with conditions.
I feel you OP. Just dump everything in a HISA, they said. The conditions are so complicated. It's like the banks are hoping that you won't meet the conditions so that they don't need to pay the extra interest rate. I want a simple account where I don't need to increase the balance and I don't need a linked transaction account. So disappointing.
ANZ plus has 4.90% p.a for $250k or less and no conditions like monthly deposits
That's why I went with hiver instead of ING. Just deposit 1k min each month and that's it.