Can you advise which of the banks extend the bonus rate on expiry for their respective online saver accounts.
Currently the only 2 banks that I know that will renew their online bonus rates on 4 month expiry are ANZ and NAB- 4.0% and 3.9% respectively.
Bankwest offers 4.30% but will not renew beyond the 6 months. This was their policy last year but please advise if its changed this year. If they were to renew on expiry I would move my lump sum to them for sure; as its possible to use their website and do transfers without sms verification whilst I’m oversea’s.
I dont want the hassle of moving the funds around after the bonus period expires. Can you thus advise the best option for me where my requirements are:
- a high rate of interest
- renewed on expiry
- easy to use website that does not require oz mobile sms verification
- no monthly deposit requirements
- must be a member of the 'authorised deposit taking institution (ADI) covered by the Financial claims scheme ie govt guarantee 250k
I just checked Ubank and sms verification on transfers is mandatory and thus its no good for me. It’s a shame because Ubank products don’t have an expiry on their bonus rate- it continues as long as you satisfy their anal nanny state requirements.
If you have an online account with any of the following banks can you comment on the service and general product for their online account:
ME Bank, ING or the Citibank online account. Do any of these banks renew on expiry for large balances.
Is ME bank as safe as houses because its owned by industry super funds…?
many thanks
St George incentive account gives 4% if you deposit once a month (any amount) and dont make any withdrawals. Failing those conditions, it is 0.01. I have a lump sum in it, add $2 a month schedule payment, and forget those saving. Any money I might need to withdraw I have in a more flexible account at only 2-3%.