Banking & Saving - Westpac: Job market reassures RBA
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Latest News Westpac: Job market reassures RBA
Westpac: Job market reassures RBA
The Reserve Bank of Australia was correct to increase the interest rate again, one bank says.
The job market is playing its part in reassuring the Reserve Bank of Australia (RBA) that it was correct to hike up the interest rate, according to one bank.Huw McKay, senior economist of Westpac – which offers a range of credit cards, among other products – said the employment industry shows that business sentiment has not been derailed by the RBA's cash rate increase, BusinessDay reported.
He added: "We don't think this is any impediment to a move in May."
Earlier this week, the RBA increased the official cash rate by another 0.25 per cent taking it up to 4.25 per cent.
But Chris Zappone, writing the article, believes the organisation is now under pressure to extend its interest rate hike after a rise in the number of full-time jobs.
Governor Glenn Stevens announced the recent increase this week and noted Aussie credit for housing "has been expanding at a solid pace" as one of the positive views of the country's current economic situation.
By Joe Letts
Thursday, 08 April 2010 00:00
| Provider | AER | O/D Rate | Monthly Fee | Apply |
|---|---|---|---|---|
| View Full Table > | ||||
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ANZ Access Advantage with Visa Debit Card | |||
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2%
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0%
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$6 p.m.
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||
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NAB Classic Banking | |||
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0.10%
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0%
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$0 p.m.
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||
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NAB Gold Visa Debit Card | |||
|
0.10%
|
0%
|
$10 p.m.
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||
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St. George Complete Freedom | |||
|
0%
|
0%
|
$7 p.m.
|
||
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St George Express Freedom | |||
|
0%
|
0%
|
$3 p.m.
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||
- Unlimited ANZ transactions for $6 a month.
- No credit check
- Online fraud protection
- 50% off monthly fee for Students
- 3 additional card holders at no extra cost
- Do NOT need to be a previous ANZ customer
- A NAB Visa Debit card
- Choice of 4 card colours
- Access to Visa Entertainment
- 90 day Purchase Protection Insurance1
- No minimum or opening balance requirements – open your account with just $1
- Access to ATMs overseas anywhere the PLUS sign is displayed (fees apply)
- Access to your money through the rediATM network with no additional ATM fees
- Six monthly statement, however if NAB Visa Debit option is taken, statements are provided every two months
- Check your balance, withdraw or deposit at any Australia Post Bank@Post outlet
- No ATM fees
- Make monthly deposits to avoid fee of:
- NEB Gold = $10 fee - deposit $5,000pm to avoid this
- A NAB Gold Visa Debit Card
- NAB Gold Overseas Travel Insurance
- NAB Gold Purchase Protection Insurance
- Visa Zero Liability policy
- Verification by Visa
- Transaction monitoring
- Daily cash withdrawal of $2,000 using NAB Gold Visa Debit card
- No minimum or opening balance requirements – open your account with just $1
- Access to your money through the rediATM network with no additional ATM fees
- Access to ATMs overseas anywhere the PLUS sign is displayed
- Six monthly statement, however if NAB Visa Debit option is taken, statements are provided every two months
- Access at participating Australia Post outlets to check your balance, withdraw or deposit
- No foreign currency conversion fees
- Unlimited St.George Transactions for a flat monthly fee of $7
- Monthly fee reduced to $0 if you deposit $2000+ per month
- 10 Free SMS Alerts a month.
- VISA Debit Card
- Deposit cheques into your account via internet banking
- No minimum monthly balance required
- 24/7 access to Internet and phone banking
- Cheque book available at your request.
- Discounts on the monthly account service fee if your St.George Home Loan repayments are deducted from this account.
- Unlimited electronic St.George Transactions. Branch Services & Cheques Chargeable. Flat monthly fee of $3
- VISA Debit Card
- Deposit cheques into your account via internet banking
- No minimum monthly balance required
- 24/7 access to Internet and phone banking
- Unlimited ANZ transactions via ANZ ATMs, ANZ Internet and Phone Banking, EFTPOS, Cheques and ANZ Branches for $5 a month
- Unlimited transactions via ANZ Internet Banking.
- You can deposit your salary, and set up direct deposits into your account.
- If you are aged under 18, or 60 and over, or are a full time student at an Australian educational institution, ANZ can waive the monthly account service fee.
| Provider | AER | Interest Paid | Min Bal | Apply |
|---|---|---|---|---|
| View Full Table > | ||||
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Virgin Saver | |||
|
6.75%
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Monthly
|
$1
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||
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UBank USaver | |||
|
6.51%
|
Monthly
|
$1
|
||
|
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St. George Direct Saver | |||
|
6.15%
|
Monthly
|
$0
|
||
|
|
ANZ Online Saver | |||
|
6.00%
|
Annually
|
$0
|
||
|
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St. George Power Saver | |||
|
6.00%
|
Monthly
|
$1
|
||
- The new Virgin Saver with the best rates around. Rates that start high and stay there to ensure customers save faster
- A market leading variable introductory of 6.75% for 4 months and an great ongoing variable rate of 5.35%
- No fees whatsoever and unlimited free transaction between Virgin Saver and customers linked bank account
- No min balances or deposit amount
- Access your account online 24/7 to transfer money, set up automatic savings plans, see statements and much more
- Savings of up to $1 million dollars are covered by the Australian Government Guarantee through our alliance with Citibank.
- Get high interest rates of 6.51%p.a on your savings
- Rate includes a savings bonus of 0.50%
- Rates are calculated daily and paid monthly
- No monthly account fees
- No minimum deposit amount
- Maximum balance of $1 million dollars per customer
- Set up 'Savings Buckets' - This allows you to set up different accounts for each of your savings goals in just a few clicks, for example 'New car Fund'
- Set up an Automatic Savings Plan option that makes regular contributions from another Australian bank account. For example, set up a monthly Automatic Savings Plan for $100 (or more) and receive a Savings Bonus of 0.10%p.a. (for balances up to $150,000)
- Make use of the Usaver Goal Tracker online savings tool
- Have the flexibility to transfer funds to any Australian account with the Usaver 'Pay Anyone' feature
- Have your choice of alerts sent to you via email, SMS or secure mail
- Access to a real person at Ubank through a dedicated call centre.
- Get a total of 6.15%p.a
- Open a Direct Saver online saving account today and enjoy a fixed bonus rate of 1.55%p.a. above the standard Direct Saver variable rate (4.60%p.a. on 10 May 2010), for 4 months when you open a Direct Saver account before 30 June 2010.
- No fees
- No minimum balance
- Instant funds transfer if linked to St.George account
- Unlimited fee-free phone and Internet banking
- Interest calculated daily & paid monthly
- Open up to 15 multiple directsaver accounts
- Use it as your DIY Superannuation.
- Open an ANZ Online Saver by 30 Sept 2010 and you can get your savings off to a flying start. Enjoy bonus interest of 1.50% p.a. on top of the standard variable rate, currently 4.50% p.a., until 31 Jan 2011. There is no minimum balance needed to open the account, meaning you can start your savings plan now. This offer is only available by applying online via the Apply Now button.
- No Minimum Balance
- Interest is calculated daily and paid quarterly
- Safe and secure Government Guarantee on deposits
- 24/7 State of the art online banking
- Terms and conditions, fees and charges apply.
- Enjoy a fixed bonus interest rate on top of your standard variable Power Saver rate for 4 months when you open a new Power Saver account between 1 March 2010 and 30 June 2010 and deposit only new funds to St.George Bank
- For customers who reside in NSW, ACT, SA or NT the fixed Bonus rate is 2.40%p.a.
- For customers who reside in QLD, VIC, WA or TAS, the fixed Bonus rate is 1.55%p.a.
- No monthly account fees
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- Instant access via branch and ATM/EFTPOS+
- Choose a Deposit Only Card, so you won’t be tempted to access your savings at an ATM
- Earn our special variable rate, currently 6.40% p.a. on balances up to $1 million until 31 December 2010
- The special rate is a fixed 1.40% p.a. above our standard variable rate, currently 5.00% p.a.
- No fees and no minimum balance
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- Interest calculated daily, paid monthly
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- Also available to DIY super and trust accounts
- Earn 6.15% p.a (12 month into offer)
- Go to rate of 4.50%p.a. after 12 months
- No minimum deposit
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- Access your account 24/7 via Online Banking
- $5m maximum investment
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- To help you save Suncorp will not be issuing you with an ATM card with this account.
- A great introductory rate of 6.45% p.a. for the first 6 months of your account opening.
- At the end of 6 months you’ll receive our standard variable interest rate, currently 5.25% p.a.
- No account fees
- No minimum balance
- No fixed terms or hidden catches
- Access your money 24 hours a day, 7 days a week through phone and internet banking
- Savings up to $1 million will be covered by the Australian Government Guarantee
