Cash

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14 Aug – 18 Aug 2017

There were no changes to our list of cash account interest rates this week.

This week was a little quieter than the week before. The RBA released its August meeting minutes and the message markets received was of risk relating to household debt levels and possibly the continued strength of house prices in Sydney and Melbourne. The labour market would take of itself over time. The Westpac-Melbourne Institute Leading Index suggest less than trend GDP growth in 2018 while June Labour Force figures confirmed the Australia economy is still chugging out new jobs at a respectable rate, although some worry about the ratio of full-time and part-time positions.

This week pricing in cash markets was unchanged for contracts up to and including April 2018 while contracts from May 2018 onwards implied a slightly higher probability of a 0.25% rate rise. Cash markets imply no change to the official rate in 2017, a 14% chance of rate rise in February, a 44% probability in May, a 70% chance in August and by November a rate rise is fully factored in.

See our table below for a comparison of all the latest cash account rates which are available.

CASH ACCOUNTS

ProductInt p.a.Special Cond
AMP Saver Account2.10%31 days’ notice
AMP Notice Account2.15%
ANZ Premium1.50%
ANZ Progress Saver1.81%Min balance $5,000
Arab Bank Online Savings2.00% Up to $500k.
Bankwest Smarter Esaver1.75%Zero w/draw pm up to $500k
BoQ Cash Man Account1.45%Limit 1 w/draw pm
BoQ Bonus Interest Savings2.20%$250k+
CBA NetBank Saver1.00%$200pm dep, $100k lim, 1wd pm
CBA Goal Saver Ac1.90%
CUA eSaver Plus Account2.80%
Heritage Online Saver2.15%$750,000+
ING Savings Accelerator2.20%$150k+
Macquarie CMA1.40%
ME Online Savings1.30%
NAB iSaver1.20%
NAB Reward Saver2.55%1 dep no w/draw mth
Rams Saver Account3.00%$200 pm no withdrawal
Suncorp eOptions1.60%
USaver1.81%$200 pm up to $200k
USaver Ultra2.87%Up to $200k +$2k pm dep
Westpac eSaver1.00%
Westpac Reward Saver1.75%dep $50 and no withdrawals

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