💰 Top 5 high interest savings accounts in 2022

Savers rejoice! Your time to shine has come.

It has been a few lifetimes since we’ve spoken about savings accounts and making sure you’re getting a decent interest rate on your hard earned savings, but things are changing.

This is especially exciting for those of you that are hard at work saving up for a specific short term goal or wanting to get a little bonus on their emergency fund that’s been safely stored away.

In this episode Kate & Owen cover tips on making the most of your savings, why shopping around for a better interest rate matters (especially now), along with some of the best interest rates around on savings accounts and term deposits in August 2022.

If you want to thank us for putting this show together, please give The Australian Finance Podcast a 5 star review on Apple Podcasts - it’s a 5 second task which really helps support the show (and puts a big smile on our faces).

*Full individual disclosures for each guest are available via the show notes page. Owen, Kate and The Rask Group Pty Ltd do NOT receive anything for mentioning Super funds, products, shares, bank accounts, etc.*

DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser.

Date recorded: 31st of AUgust 2022

[skoopqueen]

Big ups to everyone working effortlessly trying to earn a living while building wealth. I’m 65 and my husband 68 we are both retired with over $3 million in net worth, with a maximized government contract and no debts. Currently living smart and frugal with our money. Saving and investing lifestyle made it possible for us this early even till now we earn monthly through passive income..

[SATAN]

Ing currently has 5.50%, and you don't actually need to put in 1000 a month

[ckenealy]

ANZ in New Zealsnd is offering 5.2% term deposit for 1 year. Is this an out standing deal or has this been seen before and pretty "run of the mill"?

[caroljordan]

St George is currently doing 4% term deposit 😊

[rheapabulayan]

interesting topic. Question, , if i plan to pay the mortgage for shorter term eg 1-3 years, , is having offset account still beneficial? Thank you.

[nicholastonkin]

What about virgin money? Uses BOQ currently 3.3% deposit 2k monthly make 5 transactions a month also offer 3.6% if you lock the account for 32days. Up to $250k

[Scarecrow-zrzx]

Boq has 3.5% for under 35s, up to 50k. Not worth a mention?
Edit: It got a mention near the end, 👍

[orpabuaya]

AMP offers 3.55 for 12month term deposit for up to 25k. Goes a bit higher the more you’re able to put into it.