09 Nov – 13 Nov 2015


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The release of the October employment figures was immediately followed by cash markets lowering the probability of December rate cut to from 22% to 8%. At the end of October a rate cut in February had been seen as a certainty and a second rate cut in mid-2016 was a fair bet. The odds started reducing in the first week of November following comments by the RBA chief regarding mortgage rates but after the employment figures the odds of even one rate cut blew out considerably. By the end of the week the odds of a February cut had fallen to 28% and the chance of a rate cut by August was reduced from almost a certainty to just above 60%.

There were two changes to our cash accounts table last week. National Australia Bank’s iSaver account rate was reduced by 10bps to 1.80% and ME Bank’s Online Savings Account was reduced by 25bps to 2.00%

Across all the cash accounts in the Yield Report survey, the average rate is 2.42%.


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ProductInt p.a.Special Cond
AMP Saver Account2.60%31 days’ notice
AMP Notice Account2.70%
ANZ V2 Plus0.50%1 dep no w/draw mth
ANZ Progress Saver2.71%Min balance $5,000
Arab Bank Online Savings2.30% Up to $500k.
Bankwest Smarter Esaver2.80%Zero w/draw pm up to $500k
BoQ Cash Man Account2.15%Limit 1 w/draw pm
BoQ Bonus Interest Savings2.75%$250k+
CBA NetBank Saver1.85%$200pm dep, $100k lim, 1wd pm
CBA Goal Saver Ac2.80%
CUA eSaver Plus Account2.90%
Heritage Online Saver2.70%$750,000+
ING Savings Accelerator2.75%$150k+
Macquarie CMA1.90%
ME Online Savings2.00%
NAB Isaver1.80%
NAB Reward Saver3.05%1 dep no w/draw mth
Rams Saver Account3.60%$200 pm no withdrawal
Suncorp eOptions1.90%
Usaver2.31%$200 pm up to $200k
Usaver Ultra3.37%Up to $200k +$2k pm dep
Westpac eSaver1.75%
Westpac Reward Saver2.50%dep $50 and no withdrawals