I found this looking at the canstar website, and it is currently the highest interest rate available. It is meant for people who are getting married.
You will need to join the credit union for a share cost of $2, but it seems like the account is free.
http://www.matrimoney.com.au/how-does-it-work
http://www.matrimoney.com.au/for-couples#HowdoIapply?
http://www.matrimoney.com.au/why-choose-matrimoney
Hopefully some people here find this useful!
Taking your money then dropping rates without notice. Al'ing
The catch is getting married
Can we access our money before our wedding date?
No. Prior to your wedding, your MatriMoney account is set up as a 'two to sign' operation prior to your wedding day to ensure that both the bride and groom are aware of any transactions on the account. After your wedding day, you can change this so that either can operate the account without needing approval from the other.
So if you don't go ahead. Get in a fight. Can't agree. The bank is happy that your money is just sitting there and hopes some couples come to the conclusion it's too hard to find an amiable resolution and the bank keeps it all to invest. Pretty good business model I must say.
Any major bank also have this function (two to sign) and you will start to hate it because you can't do any card/online withdraw transaction except counter withdraw .
I don't think bank have a say to keep your money away from you when you both agree this is not right.
Yes, they have it as an option - not a requirement. Further, you don't have to be married first before you can access it….
Can the account remain open after the wedding? I didn't see that in the FAQ
Seems like INGs savings account is more straightforward. Yes you need to transfer $1000 into the account each month but that's it and plenty of other perks through the everyday account.
ING has 3.75% interest, not 4%
They must have changed it recently. Thanks for the heads-up!
*Heads-down
The whole premise is that it is a gift registry with a savings account attached. I guess its a nicer way of asking for cold hard cash as a gift. If anything it provides the donor with a certain level of comfort that the bride and groom to be, will not run off a day before the wedding.
From a pure interest argument, lets say a couple has $50k set aside, the difference over a year is $130 (give or take). Personally not enough to place such a restriction on accessing the cash. Or even having to deal with a financial instituation to access my money when a negative circumstance occurs.
Thanks for posting
I get the same 4% in my ING internet saver account…
Checked your rate lately?
ING decreased the interest rate on the Saving Maximiser accounts to 3.75% on 1 April 2015.
Unfortunately they forgot to inform their investors.
That 3.75% rate includes the Bonus, based on depositing $1 K per month.
What if you're gay?
Or just not into weddings?
Any chance of a mexican-style, online, $5 hitch-me-up with a real celebrant, arrangement being accepted.
If so, who's up for a remote wedding?
Interesting! Wheres the catch……?