Comments on: Members Equity High Interest Rate Online Savings Account: No Fees Great Service

By: Rach

Rach — Tue, 24 Nov 2009 06:11:28 +0000

“The thing I find annoying about most of the ‘best interest rate’ sites around is they don’t list the AMP option and seem more intent on pushing what appears to be their advertisers banks instead.” (Brian)

I agree with Brian. I’m currently with NAB’s Ubank Usaver account, which at 5.56% matches that which you’d get in their term deposit account. (NB- 5.56 is what you get as a loyalty bonus for transferring a minimum of $100/month into the account) It’s interesting that this free high interest saver account isn’t featured on google’s fiirst page.

Think I’ll check out AMP next then- thanks for the tip!

By: Sally Milton Ellis

Sally Milton Ellis — Thu, 23 Jul 2009 01:42:36 +0000

I just did a search at Mozo and the best deal I could find was 4.5% with Rabo Plus!

IT doesn’t seem like you can get 5.0% anymore, will just have to keep checking back. Anyone have any comments on Rabo?

By: Rick

Rick — Wed, 25 Feb 2009 12:39:29 +0000

Seems that ME provides all the benefits you want to have in a savings bank.Plus the factor that it’s online, you can have a glimpse of your transactions through the internet. It does not only saves your money but it does saves your time.

By: Brian

Brian — Sat, 10 Jan 2009 16:38:53 +0000

Interesting what a difference a few months can make. Like so many others I opened a members equity Online account as they were paying 7.5% back in October and offering a juicy $50 shopping voucher as a bonus if I didn’t make any withdrawals in the first 90 days. Well here it is 75 days later and the interest rate has dropped to 5%. No biggie everyone else have dropped their rates, right? well yes and no. Thanks to ME dropping all the way down to 5% it got me looking around for possible alternatives and low and behold I found one. Thanks to our Governments 3 year guarantee on bank deposits we can now swap and change to any bank in Australia that takes our fancy in the knowledge our money is completey safe.

So what about this other bank? Well believe it or not it is with AMP. The one I’m moving to is called an eASYCash Management Account and it has benefits the other online accounts don’t offer. For one it is all inclusive. No more transferring money from the online account to a low interest account to pay bills etc. This one does the lot, including giving you the option of a cheque account. There is a catch though, there’s always a catch. They charge a $5 monthly account keeping fee, presumably to disuade people with low bank balances.

But, for those with more than $6717 in their account it is the best thing currently on offer that I have been able to find, and believe me I’ve looked. Their current interest rate is 5.85%. If you’re wondering what the $6717 is all about, well its how much money you would need to have in the bank to earn $60 a year at 0.85% which is how much extra it is paying over Members Equity’s 5% rate. You don’t actually have to have a minimum balance and they pay you the 5.85% on every dollar in your account.

The thing I find annoying about most of the ‘best interest rate’ sites around is they don’t list the AMP option and seem more intent on pushing what appears to be their advertisers banks instead.

Makes you wonder, as for me, when the 90 day period has lapsed I know where my next bank account is going to be, assuming of course they maintain their current rate at a decent margin above the rest of the competition. I’m really looking forward to the end of the linked account transfers. What a pain in the butt that has been!

Cheers………… Brian