3.62% now.
https://www.ubank.com.au/transaction-accounts
Real surprised as just finished shifting some dough from ING, and back she goes, to where not sure because my money's getting dizzy.
Seems Rams is still 3.91%.
EDIT: Rams main savings webpage states 3.91%, but their Rates pages both say 3.80%, so ING at 3.75% is still ok.
Retail deposits is only one source of funding. A banks net interest margin is not quite as simple as mortgage rate less retail at call deposit rate.
"Seems Rams is still 3.91%."
It has gone down to 3.8%
Off to shares I go…
I just found this… might be helpful to some people (who are getting married!)
i'm guessing that is short-term?
ing direct ftw!
I was planning to transfer my funds back to UBank after I had only just transferred them to ING, haha. Looks like my laziness "paid" off this time…
what about mebank at 3.85%
First 4 months only
MeBank 3.85 is this for new customers only or ongoing?
New customers only I'm fairly sure.
I asked them last June if you closed your accounts say 1 or 2 years ago, would you qualify as a new customer. They replied something to the effect -> Never.
Plain & clear old crusties would never qualify again.
Thanks mate, what're we to do? Put into the Share market casino?
@oldrocker:
Same question on everyones lips I guess, as savings interest has been on downtrend for many years now.
Best interest rate is 3.8% at Rams currently, which frankly is still acceptable to me but just barely.
Share market can take a lot of time, effort & stress. But if I had any zip left, having done it heavily for years, thats what I'd do, longterm investment.
@oldrocker:
Me too, its unlikely as but if sudden crash maybe 4600 to 4800 I might get into it serious.
Know how to create a psunami? That did it last time. (Dont do it if you do know how ;')
In case its of interest, a newsletter viewable on ruralbank indicates interest rates are priced into futures at 1.6 to 1.70%, and on May 5th another drop is very likely. Damn it.
mebank is now 3.60%
website still shows 3.85% though
I haven't been notified of the drop, just saw it in my account details when I logged in :/
HAHAHA… I just need to move my funds now back to ING 3.75%
Just signed up to ing on the back of their 4% bonus interest offer only to see this drop to 3.75% within a week… still better than most / big banks but share market looking more attractive these days.
Wow, I had a feeling Ubank is going to become less competitive, assuming they use the savings to hold capital against their mortgages, they are taking a pretty high risk (mortgage rate at 4.29% savings rate now at 3.62%).
I'm hoping that ING Direct becomes less competitive at a slower rate after shifting everything there this week.