Hi guys, so a bit of background knowledge me and my partner want to start saving for our future together. We are both happy to commit $100 each every week.
I'm with commonwealth and have my own NetBank saver/goal saver and he is with st george. What would be the best account to open for us in terms of getting a high interest and no fees?
high interest
No such thing now a days.
Greater Bank 3% ongoing.
Any fees?
no.
Hi,
I had a CBA account with a reasonable amount deposited for years, i have recently changed elsewhere though due to CBA having terrible rates (0.01% before bonus - pretty rude i think!). Changed over and have not heard anything from CBA yet. I know i am by no means massive business for them, however i had been reliable for a long time..
Further to this, with the new Acc i opened i forgot to give the bank my TFN, and got slugged a large amount of WITHHOLDING TAX (which can be claimed back at tax time apparently). Make sure to give them TFN if you start new accounts!
Life Saver can only be opened by under 25s.
yep.
Best so far I could find is UBank = USaver + USaver Ultra account
Interest Rate = 2.87% pa
As long as u deposit at least $200 into da acct every month you get the bonus interest rate which totals up to 2.87% pa
I'm struggling to find a better savings account than this so far.
me bank 2.95%
https://www.mebank.com.au/banking/online-savings-account/
must make tap & go payment weekly.
Better off putting it in crypto
Any fees?
Not sure if a legit or a troll post but if it's the former: depends on the exchange(s) which you use. Independent Reserve and BTCMarkets have low fees. Buy ETH or LTC then transfer to an exchange like Binance or Kucoin and trade alts. Make 3-20% in a day. Buy low, put sell orders in for whatever % you want to make.
Just interested in what the actual fees are.
Also what about exchange rates, does a transaction also have do be converted to US Dollars?
@Baysew: Each site has it's own various fee schedules which differ depending on coin and value. Finder has a good writeup about crypto in general: https://www.finder.com.au/cryptocurrency, then you can look through their comparison of the exchanges.
There are some good Facebook pages: Crypto for Blokes (if you're male), Crypto Australia and Crypto Calls Australia which have varying levels of information from basic to advanced, there's also various discords where you can learn about it all.
The easiest way is to deposit into an exchange via POLI or BPAY in AUD for Australian Exchanges, then you can buy the coins on those sites. If those sites don't have the coins that you're after. Buy LTC or ETC, then transfer to the other exchange that does to start trading or hodling.
@Jemz: Gee, I thought a simple question may have had a pretty simple answer!
Found an answer on another thread
Talk about fees !!
1% to deposit your own money (sometimes 3%)
3% to buy
3% to sell
1% swap coinstakes weeks to get approved take days for you deposit to go through … sometime stop deposits altogether …. for an industry and fluctuates minute by minute and can cost users 1000's of dollar … coinspot is an ABSOLUTE JOKE !!!
So would need at least 10% increase in price, just to break even.
@Baysew: There's no "average" fees so it's hard to give a simple answer. The short answer is: it depends.
Coinspot is a rip off. BTC Markets: there's no fee to deposit via BPAY, which is done next business day and Poli is $3.30 which is same day. Then trading fee starts at 0.85%.
Verification with BTCMarkets was same day for me, other exchanges like Binance and Kucoin have 0.1% trading fees.
AMP Bett3r is 3%. Have only seen this recently, considering moving from Ubank providing I don't discover something horrible about them as I look into it.
https://www.amp.com.au/personal/banking/products/amp-bett3r-…
To get that interest rate and no account fee need to deposit $2,000 each month from an external source.
I've been using them ever since RAMS's interest rate cut. No issues so far. The highest interest rate I've found is with RaboDirect at 3.05% p.a. but this is only for the first four months for new customers.
What's annoying is that all these banks keep changing their interest rates often and it's just not practical to close your bank account and get a new one opened every 8-10 months or so. One can still do it but it's just annoying.
The bank of ZenCash ;)
https://zen.lebre.net
For every batch of 42ZEN you stake, you get 12.5 per year.
Annual ROI is 30%
Edit: But on a more serious note: I'd go with UBank. It's got a decent interest rate and is backed by the taxpayers' $250,000
Hi,
I have a friend that was quite recently (April 2018) telling me that he is getting 5.00% with a NAB Smart Saver account, which i find very hard to believe.. In this current market i think he would be lucky to be getting 2.50%, even with NAB. However he told me to ask nab about the bonus interest, meaning that they could be potentially be doing a bit better bonus rate. He may have some kind of junior or student account still? Does anyone have any opinions or ideas on this? TIA
Banks can give bonus interest, but it depends what level customer your are ie. You have a lot money and products with them =more likely try to win you.
Thanks for the reply. That would make sense. I still think it would be very hard to get 5.00% anywhere at this point in time and i think he could have it confused somehow.
Any other ideas on how to get a higher rate/bonus would be awesome if anyone has any ideas?
Convince the bank that you're in the market of buying a house and getting a loan. Of course, this would only work if you actually have money for a deposit right now at least. Might only work with the bank you have a history with.
Read Rich Dad Poor Dad by Robert K. and save more by knowing why you save.
I'm currently using UBank (NAB subsidiary) which is 2.87% ongoing rate