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NABtrade Interest Rate for Cash Account of 2.15% P.a. for Balances up to $1,000,000

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NABtrade Interest Rate for Cash Account of 2.15% P.a. for Balances up to $1,000,000
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pjwellsey on 07/10/2017 - 15:36 nabtrade.com.au (319 clicks)

Just got an email

At nabtrade we want to help you maximise your investment returns. That’s why our High Interest Account pays a variable interest rate of 2.15% p.a. for balances up to $1,000,000* – no catches, no bonus terms, just a consistently high interest rate (on higher balances lower rates apply).

With a high interest account you'll also enjoy:
Instant transfers to and from your nabtrade Cash Account
No minimum balance requirements
Unlimited online cash transfers, at no extra charge
No additional fees

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closed Comments

  • danielh on 07/10/2017 - 16:10
    +5

    Forgot that interest rates were cash accounts paid such a low rate these days. I remember the 80s and the 17-25% returns.

    As for now, if you have a mortgage, your money is a lot better off in an offset account (and money saved is not taxable compared to interest earned which is).

    • GnarlyKnuckles on 08/10/2017 - 00:08

      … '17-25% returns.'

      Erm… 25%? wtf? What type of 'account' was returning anything even close to half of that in the 80s? The only 'industries' returning that kind of profit (and beyond) on investments were decidedly questionable ones (think 'disco biscuits' etc…). Get your hand off it, Danners.

      • danielh on 08/10/2017 - 09:24
        +1

        Sorry 18.95% was the best average cash rate back in the 1980s. I just used to remember getting about $25 every 3 months on one of my deposits which was just enough to get a new CD. Very exciting times back then. 😀

  • capslock on 07/10/2017 - 17:26

    Never mind.

  • OzyBe on 07/10/2017 - 18:23
    +2

    Perhaps I am missing something, but there are a number of savings accounts offering a higher rate than 2.15%

  • zhuntai on 07/10/2017 - 18:49

    ^ I agree. Ubank offers 2.87%* (with Ultra account)

  • sween64 on 07/10/2017 - 18:59
    +4

    There are better places to leave your cash. See the whirlpool doc here and the thread for discussion. If you meet the requirements you can get 3% with some of the smaller banks. Even NAB gives 2.55% if you deposit but don't withdraw.

  • kahn on 07/10/2017 - 19:04

    You lost me at "up to $1,000,000".

    • pseudonym303 on 08/10/2017 - 09:19

      That's how much you'll need for a deposit on a studio apartment soon

  • Aniseed Steed on 07/10/2017 - 21:25

    It's handy for someone who already has a Nabtrade account. It gives you easy access to your cash when you want to buy shares whilst earning interest at the same time.

    • GnarlyKnuckles on 08/10/2017 - 00:12

      I reckon the number of OzBers with a 'NAB-trade' account would be way under 1%… but anyways, you do make a valid point.

      • Aniseed Steed on 08/10/2017 - 08:36

        You grossly underestimate the frugality of some of us. :)

  • bob19 on 08/10/2017 - 01:57
    +3

    What's the deal? Can get higher interest in many other banks.
    For instance MeBank offers 2.95% (to qualify just need to use Tap & go weekly, which is very easy to do).

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