St.George Maxi Saver4.55% p.a. including a bonus 1.95% p.a. which is fixed for the first 5 months
| Provider | Account Name | Maximum Rate | Standard Rate | Bonus Rate | Account Fees | Minimum Balance | |
|---|---|---|---|---|---|---|---|
 |
4.55% p.a
(for first 5 months)
|
2.6% p.a | 1.95% p.a | $0 No monthly accounting fee.
|
$0 There is no minimum balance.
|
Save faster with a competitive interest online savings account with the ability to have branch access.
Fees and charges apply.
If you open a Maxi Saver account and you have not held an Maxi Saver Account before and you are a personal customer, you'll earn an Introductory Promotional Fixed Bonus Rate of 1.80% p.a. on top of the standard variable interest rates (standard base rate and bonus rate when the bonus rate criteria is met) during the Promotional Rate Period. The Promotional Rate Period is the first 5 months from the date your account is opened.
Subject to system availability.
To hold a Maxi Saver account you must also hold an eligible St.George working account in the same name or have an existing eligible St.George working account with your name in the title. Fees and charges may be payable on your eligible working account.
It’s rare these days that regulators are criticized for being over cautious however that is exactly the criticism being faced by the Reserve Bank of Australia who says that its own rules for access to the credit card system are so restrictive even the RBA itself is denied access.
Back in 2004 the central bank rescinded the right of MasterCard and Visa to decide who would be allowed to issue and receive their cards. The RBA argued that the system had to be open to any ”authorised deposit-taking institution” that is under the supervision of the Australian Prudential and Regulation Authority (APRA).
The problem the central bank has is not that it does not qualify since it provides banking services to the Federal Government and its agencies. However it is finding that it cannot issue Visa and MasterCards in the same way other financial institutions can. The central bank would love to be able to issue these cards because it would mean that ordinary individuals could pay ASIC feed or taxes simply by quoting their card number.
Whilst consumer sentiment may be low, Australia continues to be ranked the happiest nation in the world amongst developed economies for the third consecutive year.
The Better Life Index is compiled by the Organisation for Economic Cooperation and Development (OECD) which cited continued strength in the overall economy as the reason.
Consumer confidence in Australia fell to its lowest level in over 17 months in response to both record low interest rates and a budget deficit according to the results of a survey..
The Westpac Melbourne Institute sentiment index in May fell 7 per cent during May, its largest decline since December 2011 and the first time the index level which is currently 97.6 breached the all important 100 mark which suggests that there are more pessimists than optimists.
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