Best savings accounts for April: Get over 5.50% p.a.
Here are 5 accounts offering at least 5.50% p.a. on your savings right now.
Looking for a better return on your cash?
In good news for savers, savings rates have been going up the past few months due to the RBA raising the cash rate multiple times.
The best rate will depend on the type of acccount you're looking for; a bonus saver account that pays a higher ongoing bonus rate when you meet the conditions, or a savings account with a set rate and no conditions to meet.
Here are 5 accounts offering at least 5.50% p.a. on your savings right now.
1. Rabobank High Interest Savings Account: 5.65% p.a.
You can earn 5.64% p.a. for the first 4 months on balances up to $250,000. After the 4 month intro period ends, the ongoing rate drops to 3.95% p.a. with no conditions to meet.
2. Ubank Save: 5.60% p.a.
Earn 5.60% p.a. for the first 4 months on large balances up to $1 million, when you grow your balance each month. After the 4 month intro period ends you can get an ongoing bonus rate of 4.85% p.a. when you continue to grow your balance monthly.
3. Newcastle Permanent Smart Saver: 5.50% p.a.
This account is for under 25s. You can get an ongoing bonus rate of 5.50% p.a. on balances up to $50,000 when you grow your balance and make no more than 2 withdrawals per month.
4. Westpac Life: 5.50% p.a.
This account is for 18-34s. You can get an ongoing bonus rate of 5.50% p.a. on balances up to $30,000 when you make a deposit, grow your balance and make 20 debit purchases each month.
5. Bankwest Easy Saver: 5.50% p.a.
You can get 5.50% p.a. on balances up to $250,000 for the first 4 months (new customers only), then an ongoing rate of 4.50% p.a. with no conditions to meet.
If these accounts aren't right for you, you can compare 100+ savings accounts to find one that suits.
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