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Kids’ savings accounts put to the test – how they stack up

RateCity.com.au has put over 50 kids’ savings accounts to the test to compare how they perform over time.

Almost half of Aussies haven’t been able to save in 2022

Higher cost of living, global volatility, and the ongoing economic impacts of Covid-19 have started 2022 off with a bang. If you’re feeling the pinch of financial stress at the moment, you’re not alone with one in three people reporting “high” levels of stress.

Australia’s savings to spur economic recovery

While Australians typically dip into their savings during times of economic crisis, recent lockdowns have led Aussies to deposit around one fifth of their income into savings, according to RBA governor Philip Lowe.

CBA shaves savings rates again after a year of micro-cuts

Australia’s largest bank, CBA, has today cut the rate on two of its popular savings accounts by up to 0.05 per cent.

ANZ gives savings rates a haircut

Australia’s fourth largest bank, ANZ, has today cut the interest rate on its popular savings accounts by 0.05 per cent.

Westpac cuts rates on popular savings accounts

Australia’s second largest bank, Westpac, has today cut savings rates by 0.05 per cent.

NAB the latest bank to cut savings account rates

Australia’s third largest bank, NAB, has today cut savings rates by 0.05 per cent, following similar moves by CBA, ANZ and Westpac.

CBA cuts popular savings rates for 7th time since the RBA cut

Australia’s largest bank, CBA, has today cut rates on its popular savings accounts. The RBA has not moved the cash rate since 3 November 2020, however, the bank has made seven cuts to its GoalSaver and NetBank Saver since then.

ANZ the 37th bank to cut savings rates in the last two months

Australia’s fourth largest bank, ANZ, has today cut the interest rates on its popular savings accounts by 0.10%. 37 banks have cut at least one savings rate in the last two months, including big four banks CBA and Westpac.

Westpac joins growing list of banks cutting savings rates

Australia’s second largest bank, Westpac, has today cut savings rates by up to 0.50 per cent across its popular accounts.

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