Dollar Saver Tip #2
Save: $632.97
Tip overview:
Alison here, one of Finder's in-house money experts. Just 12 months ago you'd be lucky to find a savings account paying much more than 1% p.a.
But now, you can get up to 4% p.a. – and switching to a high interest savings account with a market-leading rate could help you earn hundreds (or more!) in interest over 12 months.
This is free money, with no extra effort required – so why not claim it?
Did you know?
The average Australian has $28,409 in cash savings and socks away around $702 each month, according to Finder data.
Using these figures as an example, you could earn $680.63 over 12 months with your money in a savings account paying 2.09% p.a. (the average rate in our database of savings accounts).
But if you switched to one of the top savings accounts paying 4% p.a. instead, you could earn an extra $632.97 in interest over the 12 months.
We've used the average savings balance for this example, but if you've got a bigger balance or you save more per month, you stand to benefit even more by switching to a better rate.
See how much extra interest you could earn with Finder's comparison tables, which also tell you the conditions you need to meet to earn the high bonus rate. If you find an account you like, you can click through to apply straight away.