I know that these tend to have interest rate around 5%, which is insane compared to the crap savings account.
And seeing now that i’m 18, i would like to open a savings account. Um, i dont know much about them. So how do they work? And which would be best?
the info is desperately needed for me to make ‘A’ decision.how about http://www.ingdirect.com
Ok, i just went to that ING website, and looked at the savings maximiser account with a 5.85% interest rate.
Um, what fees do we pay, if this place has no fees how does it run.
Are there any catches, what are they?Ive also just got them to post out an information pack to me, so i will be getting that on i think monday.
Yu can do a lot better than ING check out http://www.cannex.com.au
No really disadvantage other than you do everything over the internet and sometime may have to give a period of notice on your funds and they might be tied up for a period of time.Of course if you have a mortgage you can park them in a 100% offset account and get the same rate as you are paying on your home loan Tax free.
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CBA has an account called the netbank saver account. It gets you 5.65, the difference between this and all the other accounts, is on other accounts, you generally need to leave your money there, and you only get interest on money above a certain amount. With this account, you get interest on any amount above $1000. Until your 25 that is, once you turn 25, its on balances over 5000, but youve still got years to worry about that!
You get paid interest monthly too, and you can take your money at any time, no hassles, the only thing is, like its name, it only works over the internet, you dont go into the branch for anything, expcept to set it up and put money in.Well. I’ve looked through all the available savings accounts and decided on a savings maximiser ING DIRECT account. I recieved the infopack today and have read through it all(including the product disclosure statement). I’m going to fill it out and send it in very soon and then my good financial decisions of my life will have begun.(except that 8K i saved from working at maccas in 19months).
Thank you everybody great help all.Christopher.
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