Cash

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09 Oct – 13 Oct 2017

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

It was another week busy with domestic economic data. NAB’s September business survey confirmed Australia’s business  sector was still experiencing decent conditions and there are even tentative signs Australian consumers may be starting to feel the same way.

August house finance approvals figures may make APRA and the RBA a little nervous should property investors continue their demand for finance on through to coming months, although the RBA did its best to allays concerns regarding both borrower and lender resilience in its October Financial Stability Review at the end of the week.

As a result, there was not much change to traders’ views of where the cash rate would go for the rest of 2017 and during 2018. No change is expected in November and February 2018 is still rated as a 1-in-7 chance. May has slipped   a little as a rate rise month and it is now a 42% chance bet while August is seen as a likely candidate at 78% and a rate rise is fully factored in for November.

See our table below for a comparison of the latest cash account rates.

CASH ACCOUNTS

ProductAnnual Interest Rate Special Conditions
AMP Saver Account2.10%
AMP Notice Account2.15%
ANZ Premium1.50%
ANZ Progress Saver1.81%Minimum $10 deposit and no withdrawal per month
Arab Bank Online Savings1.90%Minimum balance $500,000.
Bankwest Smarter eSaver1.70%On balances from $500,000 to $5,000,000. No withdrawal per month
BoQ Cash Man Account1.45%Minimum balance $5000.
BoQ Bonus Interest Savings2.20%1 withdrawal per month.
CBA NetBank Saver1.00%
CBA Goal Saver Account2.15%On balances of $250,000 - $999,999. Minimum $200 deposit and no withdrawal per month.
CUA eSaver Reward Account2.70%Limit $100,000. Minimum $1000 deposit per month.
Heritage Online Saver2.15%Minimum balance $750,000
ING Savings Accelerator2.20%Minimum balance $150,000
Macquarie CMA1.40%
ME Online Savings1.30%
NAB iSaver1.05%
NAB Reward Saver2.55%1 deposit and no withdrawal per month
Rams Saver Account3.00%On balances from $200 - $500,000. Minimum $200 deposit and no withdrawal per month
Suncorp eOptions1.60%
uSaver1.81%Limit $200,000. Minimum $200 deposit per month.
uSaver Ultra2.87%Limit $200,000. Minimum $200 deposit per month.
Westpac eSaver1.00%
Westpac Reward Saver1.50%Minimum $50 deposit and no withdrawal per month

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