ANZ Online Saver account

Hey Guru,

I haven’t received anything as yet…

Are there any fees involved? I’m with ING, but mainly for the fact that there’s no fees.

CHeers

you champ… thanks for that!

Citibank are 5.4% and have been for a while. No fees.

Bankwest has 6% on a 12month honeymoon rate.

The new ANZ Online Saver is a step closer for ANZ customers using Esanda Online Saver account. The benefit with ANZ Online Saver is instant access to the account enabling instant transfer of funds between both ANZ normal savings account and ANZ Online Saver.
This seems to follow the pattern followed by Dragon Direct online saver account from St.George.

I like ANZ better in every aspect, and mainly in comparison to St.George (for the Customer Service quality)

Good luck with savings [specs]

Cheers,
Jim

Are all these other internet based (online) saving accounts (similiar to ING) as easy to use and as secure as ING? I like how ING has a keypad that changes each time you want to login as well as will log you out after 5 minutes of inactivity… plus I don’t mind the time delay that ING has as it makes sure I really do want to use my savings.

Compared to ING are the others as easy to use? Plus do they allow you do download the statements into MYOB ?

Wishing everyone prosperity!
Vanessa

Hi Guys/Gals,
I am new to the site and forum and read with interest all the info on cash/savings rates. Very informative.
Personally, I have an I.N.G account, but haven’t contributed for some time (since property investing 5 years ago). I have a small cash reserve in the account which was there before the investments came along, and I haven’t touched it in 5 years.
My belief is that while I have a mortgage (investment loan on properties) at a higher interest rate than the savings rate (and they always are), every dollar I put into the savings account is one dollar (and then some) less I can pay into the investment loan to reduce that debt.
I realise that the interest on the investment loan is tax deductible, but with the savings account; after tax on the interest and inflation is considered, the net gain is almost nothing and meanwhile there is a lost opportunity to increase the equity across the investment portfolio.
As a result, I put every available cent into the investment loan, thus increasing the LVR and improves the equity percentage which the banks love.
Has anyone got some thoughts on this strategy? Is there a better way?
Cheers,
Marc[laughing]

ANZ have a V2 account which doesn’t charge for any withdrawals & you don’t loose your interest for month if you withdraw, however you must maintain minimum of $5000 in the account. I think it is 6% interest from memory.

Would an Offest Account on your IP Loan be better than an On-Line account Simon?

We dont have a PPoR, so can’t use it for non-deductible debt anyhow…….

“Money is a currency, like electricity and it requires momentum to make it Effective”

Online Positive Cashflow and Renovating Calculators

This post seems to be dead for while but I thought its the most relevant I found so here I go:

Recently I sold some property and put par to the money into some shares and still have some cash in my hands. Since I am not yet in the position to buy a new IP I was lookin around to see who is offering the best rates on those online savings accounts.

I found that BankWest is paying 6.8% first year than reducing to 6.25%, and than HSBC offering around 6.4%. Anyone has any experiences with any of those? For example what does prevent me from leaving BankWest once the "honeymoon" rate is about to expire?

Anyway I have the list of top 20 on my web if anyone wants to know too http://www.soundofgold.com/2007/04/17/top-20-australian-high-yielding-cash-accounts/

Cheers
dk