Saturday, September 18, 2010

The interest rate

You work hard for your money, so in return your money should work hard for you too! But how?

Well, you need to do your homework and the easiest way to let your money work hard for you is to put it in a bank that offer high interest rate!

UBank USaver 6.51% 6.01% Y Y
ANZ Online Saver 4.50% 4.50% Y Y
Bank of Queensland WebSavings Account 0.01% 0.01% Y ($0.65 fees) N
Bankwest Smart eSaver 6.00% 4.50% N N
Bankwest TeleNet Saver 6.15% 4.50% N N
Commonwealth Bank NetBank Saver 6.00% 4.50% N Y
ING DIRECT Savings Maximiser 6.25% 4.90% N Y
Macquarie Bank Macquarie Cash XL 4.50% 4.50% Y N
RaboDirect High Interest Savings Account 6.40% 5.00% -- --
St George Bank Directsaver Account 6.15% 4.60% N Y
Suncorp Bank Everyday Options Sub-Acc 4.75% 4.75% Y Y
Westpac eSaver 6.00% 4.25% N Y
nab iSaver 6.00% 4.25% N Y
Information accurate as at 17 September 2010. Source: CANSTAR CANNEX 

You don't have to be royal to your bank! Whoever offer you the highest rate just go for it. I was with ING before but now I am UBank customer. They even provide you a saving calculator that will show you the period of year you need to save to reach your goal.

So - what are you waiting for? Does your bank let your hard earn money work hard for you? If the answer is know what to do!