Savings Accounts Comparison: Compare & Apply For A Savings Account Online

When you put your extra cash into savings accounts your money actually earns money. There are many different accounts available for almost any lifestyle. The Australian Government insures your deposit so you do not have to worry about losing your investment.

Savings accounts are a long standing way for people to earn a return on their money. There are all sorts of savings account products on the market that give you varying amounts of interest. The financial institution industry works hard to earn your business by offering high rates on savings accounts and features that are built around individual lifestyles. The interest rate on savings accounts adjusts with the Reserve Bank so when they lower rates they earn less. This is why other features have become very important to consumers.

What to look for in a savings account:

• Accessibility – Some people need to dip into savings accounts more then others. These people will want to have a an account that is linked to your cheque account so that you are not charged fees for these transactions. If you are really trying to save money though, you will not want need access to your money as often. You can get an account that has a higher interest rate, but steep fees for excessive access to the account.
• The Australian Government Deposit Guarantee – This ensures that up to $1 million of your savings is insured by the government. If you have more than $1 million your lender will probably offer you a reduced rate in order to cover the cost of a Large Deposit Guarantee.
• There are four basic types of savings accounts
  • Concession Accounts – If you are a student, pensioner, or child you can qualify for an account that has special benefits like zero fees, low cost access, and for pensioners a premium rate.
  • Everyday Accounts – On these accounts you have a lower rate and a small fee for accounting but you get features like free unlimited transactions.
  • Online Accounts – An online account limits your flexibility but can usually offer higher interest rates. They can be combined with an everyday account to make transfers of money easier.
  • Cash Management Accounts – The CMA is considered a classic high yield savings account. Those who save are given the best rates for a substantial deposit. Transactions may be limited but you get features like BPAY and internet banking.

Opening savings accounts is a good choice when you have extra cash. Instead of just letting your money sit in a cheque account waiting to be spent it can actually earn interest. The more you save the more you earn in interest which allows your money to work for you instead of you working for your money. It is a simple concept intended to help you get ahead in the financial game.

Click Here To Compare Savings Accounts

• Comparison of Top 10 Credit Card Offers

Editor's Choice: Our Top Credit Cards

Credit Card	Card Details	Interest Rate (p.a.)	Cash Advance Rate (p.a.)	Balance Transfer Rate (p.a.)	Annual fee	Interest free days (up to)
HSBC Credit Card	Editor's Choice: 0% for 6 months Balance Transfer & No Annual Fee Featuring a $0 annual fee for life, and 0% p.a. balance transfer for 6 months, the HSBC Credit Card was voted the Best Transactor Credit Card for 2010.	16.99%	20.75%	0% for 6 months	$0	55
Suncorp Clear Options Standard Visa Card	A great 12 month balance transfer offer, combined with a low annual fee and a good interest rate on purchases.	12.24%	17.99%	1.9% for 12 months	$39	0