Save up to $1,256 by using a HISA | Dollar Saver tip #74
Save: up to $1,256
Tip overview
Australians have billions of dollars sitting in no interest accounts.
Seriously. We crunched the numbers using the Big Four banks' annual reports and found that customers have a combined $135 billion sitting in non-interest bearing transaction accounts.
We could be earning a lot more by putting some of that money into a high interest savings account.
Did you know?
The average Australian has $35,166 in the bank, according to Finder's Consumer Sentiment Tracker.
And the average rate on an online savings account is just 2.05%, according to Reserve Bank figures.
But if you put $35,166 in an account like ING's Savings Maximiser, you could earn as much as 5.5%. Over 12 months, you'd earn $1,256 more than if you'd stuck with the 2.05% average rate.
Of course, you need to meet a few conditions each month to get a high rate like this. But the extra interest speaks for itself.