I remember in the past there was an online savings account where the bonus interest only applied if you had deposited enough in the previous month.
Does anyone know the name of the financial product and was this condition subsequently changed?
Which Online Bank Has a Condition Where The Bonus Interest Applies from The Second Month?
Debuting on 05/03/2020 - 21:49
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RAMS dont
RAMS dont
You might want to do some fact checking before commenting and dishing out negs.
https://www.rams.com.au/savings-and-transactions/rams-saver/
To earn the bonus 0.75% p.a. variable interest on top of the variable base rate, just:
* Deposit at least $200 during the monthThe title of the thread is "Which Online Bank Has a Condition Where The Bonus Interest Applies from The Second Month?"
OP says "I remember in the past there was an online savings account where the bonus interest only applied if you had deposited enough in the previous month."
RAMS pays interest from the FIRST month not the SECOND month. You don't have to make the deposit in the previous month to earn the bonus in the current month.
Ubank are different. Ubank needs the deposit in the previous month to earn interest in the current month
RAMS don't have the clause UBank does. With RAMS you make the deposit in the current month and you get the bonus in the current month. Just read the link above that you provided
UBank… always open/deposit money in last few days
ING (Saving Maximiser) and BOQ (Fast Track Saver) also apply bonus interest in the second month, if conditions are met in the first month.
Look through the whirlpool spreadsheet
https://docs.google.com/spreadsheets/d/145iM6uuFS9m-Rul65--e…
Most of the high interest rate saving accounts have this 'clause' to get the bonus interest, both ubank and rams for example have it.