They've done it again, rates have dropped from 2.3% to 2.2%
ING Savings Maximiser Rate Dropping from 2.3% to 2.2%
LGarbotoxin on 17/09/2019 - 14:19
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You must be seriously rich for that to make a difference. :p
Don't hate on the double digit interest gen X.
It's a 4.35% drop, that make a difference even with only modest savings.
That said, If you go with Ubank, you'll get a 9.5% better return, and it's not capped at $100,000, so the "seriously rich" can earn even more lol.
UBank is capped at $200,000
Any better rate than ING?
getting a investment property? lol
house pricing are falling, bad idea
Not where I'm, when I'm try to buy one.
Yes
Gross return before expenses is about 2.7%
less about 1.3% for "Known" expenses leaves you with about 1.4%
And thats with no vacancy, no repair and maintenance and no management costs.
Suddenly a bank account earning 2.41% (ubank) risk free with no expenses is looking like a very good return
For HISA, Ubank.
If you're willing to leave HISA and take on some risk, VDHGThanks will look at Ubank, my money is rotting in ING
ING Direct use to be great for customer. Now ING everything is diminishing
yeah time to jump ship
This. I am literally in the process of exiting all my accounts with em. They’re not the bank they used to be.
Is rams saver good? The interest now is 2.35%
Consider 2 weeks ago it was 2.55% and dropped to 2.35 for no reason.
Consider if u withdraw any money you don't get the 2.35%
Consider at UBank you get 2.41% up to $200K and can still make withdrawals,Where are you seeing 2.41% with Ubank? I'm with them and getting 1.86% up to $5k
Hmmm … ING is definitely sliding down the pole in terms of preferred banks these days. Would be lucky to make top 3 in terms of deposit rates these days I would think?
Wow, no cash rate cuts since the last one and ING dropped the rate again for no reason. Time to jump ship for sure
UBank, USaver with Ultra is 2.41%
Their website and app is a little bit retarded though. But $200k limit means more than interest rate alone.
Its a fantastic account combination.
Probably best in Australia
Lots of excellent benefits including fee free foreign currency payments and overseas ATM withdrawals
86400 (new online bank) has 2.5% (0.4 + 2.1 bonus) if you deposit 1k or more per month. No monthly account fees either
Waiting for referral offers. Not going to sign up just to become an early adopter.
Fair call. Depends I guess on if that's more beneficial to you based on interest you'd earn, sounds like you've weighed it up.
How safe is my money if the bank disappears one day?
Government insured up to $250k
Up.com.au is also doing 2.5% (0.5% + 2.0% bonus with 5 card purchases / month) for up to $50,000 savings.
BOQ offers 2.5% for up to $250,000 savings. Only condition is to deposit $1000 or over per month from an external account to the BOQ everyday account.
Yes BOQ and UBank are on my shortlist
Not any more. Its 2.15% now.
What a slap in the face!
Is this ING rate decrease in response to the RBA's July 2 rate decrease?
Or is this in advance to a future RBA decrease?
No point to moving to other banks if they're gonna make similar moves.
Yeah I’m finding some of the reactions here a little impulsive. ING as a bank still offers me a whole lot of perks such as zero ATM and international transaction fees. Their savings rate is still competitive enough to not make me consider moving.
Same with RAMS Saver. Dropped from 2.55 to 2.35. Also just capped deposits at $500K.
I guess they locked in their quota of funds and decided to drop the rate.
I was going to deposit a fair bit of cash with them.
Now maybe zilch. They can't be trusted.
UBank saver with ultra is a much better dealUBank saver with ultra is a much better deal
It is, and I recommend them. But they're capped at $250k, so if you have 500k (and want to keep it in cash for whatever reason) then stick with RAMS.
Im using both
Seems the requirements for UBank USaver Ultra are even easier to achieve than for ING Direct(?).
Per this fine print: https://www.ubank.com.au/banking-overview/transaction-accoun…
Not defending any bank but:
ING : $100,000 -> 2.2% -> $2,200 per annum or $42,30 per week
BOQ : $100,000 -> 2.5% -> $2,500 per annum or $48,07 per week
Yes, there is a difference of $5,77 per week.
Yes, better in my pocket than in theirs.But is it worth to even bother changing banks????
Changing investment strategy yes.
But banks?It's only worth it if customers change banks en masse which sends the message that we don't want their crappy rates while denying them future business in other areas (loans etc).
Think of it as a reverse "ozbargaining" - instead of a bunch of Ozbargainers jumping on a good deal, we flee from it.
Its too easy these days
You can do it sitting down at home in front of your computer
1.95% now 😔
Only passing on 0.15% of the 0.25% RBA cut on their home loan rates while dropping their savings account rates by the full 0.25%.
I agree
Should I vote (-) or (+) on this one ????
NEWS FLASH
UBank just dropped the rate from 2.41% to 2.10% (-0.31%)RAMs were 2.50% not long ago but currently on 2.25% (dropped 0.10% before the last RBA rate cut and 0.20% drop a few weeks earlier) but have stated their loan rates will change on 15/10 so lets see what happens to the RAMs saver rate (currently -0.25%)
BOQ rate dropped from 2.50% to 2.15% (-0.35%)
Time to move money around again but where this time ???
Have to wait and see what RAMs does on 15/10 but they have dropped Saver rates out of sync with RBA drops
You do realise the RBA cash rate is 1%?