Top 5 Savings Accounts in Australia 2024
ฝัง
- เผยแพร่เมื่อ 5 มิ.ย. 2024
- In this video, I’m going to show you the 5 best savings account in Australia that will give you the best interest rates.
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#australia #savingsaccount #interestrates
⏰ TIMESTAMPS
0:00 - Intro
0:51 - Ubank
2:27 - ING
4:55 - Moomoo Cash Plus
7:23 - Bank of Queensland
8:57 - Macquarie
9:41 - ANZ Plus
10:45 - Comparison
11:06 - Should You Have Multiple Accounts?
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💰 Get 10 FREE Stocks (worth up to $3,626) + Earn 6.8% Interest (up to $3,353) for up to 100K Uninvested Cash + Free Premium Research Features if you sign up to Moomoo & deposit $1 using this link: j.moomoo.com/00A1xQ
💰 ING 5.5%: Get $75 FREE if you sign up using this link & follow the steps: bit.ly/48HzmmO
💰 Ubank 5.1%: Get $30 FREE if you sign up with my code & make 5 small purchases: bit.ly/3L0duZM or Use Code: MDPYUAG
Bank of Queensland 5.4%: bit.ly/4a1Ue8q
Macquarie 5.35% (4 months) then 4.75% : bit.ly/3PenZee
ANZ Plus 4.9%: bit.ly/3PeAOFs
Westpac life??
Worth mentioning that this offer isn't available in South Australia :(
@@ericagraham5225 Hey Eric, that's interesting. Which offer isn't in SA?
I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Belinda dawn
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states.
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
SHE'S MOSTLY ON TELEGRAMS, USING THE USERNAME
MITCHELL110 💯 ..that's it
Love those Tacos! Signed up to your newsletter. Great to have someone focusing on Aussie content instead of only American! 🇦🇺
Thanks so much Oli. I totally agree. We need more Aussies talking about money!! ✊
Taco! 🌮 Thanks for the easy to follow and informative tips. I just hit my limit in ING and was looking at who to begin with next.
Thanks! Well done on hitting your limit. The good news is there are many other savings accounts out there that can still give you a relatively high interest rate.
Cheers, Bryan. You're my fav Aussie Finance TH-camr! 100K is coming in no time. I'm off to eat some tacos now 🌮🌮🌮
Too kind, Jeff. I really appreciate your continued support 💙
Taco! Thanks for these videos, very helpful
Thanks Pieter. I'm glad it helps 😁
Taco 🌮!! Thank you so much for good information video 😁
Thanks Ranyoung for the support! 😊
Wonderful video as always. I really like your background. Judging from the that alone, I can totally tell you're a 90s kid! Source: I am also a 90s kid. 😊🌮
Thanks! Haha, yep you got it me. What gave it away? The Mario star? The 3 Pokemon? Goku and Vegta? or all of the above? 😂
Taco! Thanks so much for this review, it was really helpful. Keep up the great work Bryan!
Awesome! Thanks for watching. I’m glad it helped 😊
Keep these videos coming...very helpful
Thanks Riley. Heapssssss more videos are coming out this year and beyond!
Oh and signed up for your newsletter!
Appreciate it!
Been ur subscriber since u had 2k. Love ur contents mate
Thanks so much for the support mate. I really appreciate it ✊
Hey Bryan, TACO! Firstly, just want to say that I love your videos and have been following your channel for a while now. I make sure to hit a like on each one! Your research is great and your videos are a real joy to watch! You are definitely doing a great job! I live in Sydney and just want to know about your opinion on the UP Bank (brench of Bendigo and Adelaide Bank). I just opened an account with them I think the app is great. But their savings accounts offer only 4.35% at the moment. After watching your video I might consider also opening an account with UBank. I am also an ING costumer and do have a saving maximizer. Thanks and looking for your reply.
Hey mate, thanks a lot for the support! I really appreciate it. From purely a financial aspect UBank wins hands down due to the higher interest rate you will receive. 5.1% vs 4.35%. So it's a no contest if that's what you're after. Ubank + ING is the ultimate combo in my (biased) opinion. However, I have heard that Up Bank has a slightly better app and it's better at tracking your spend, connecting with other banks, and helps with budgeting. So it appeals with the new gen who like to budget. UBank also does these things but to a lesser level. I personally think UBank's app is already very good and easy to navigate. It does all the simple things well - receive interest, pay anyone, instant transfers, and multiple free accounts. I'll probably sign up to an Up Bank soon just so I can do a comparison in the future! Btw, love the content on your channel. It's absolute fire. I really enjoy motivational music 🎧🔥
Amazing content Bryan, during your video I saw a pub for Kinesis, what do you think about saving in gold banks instead of classic saving account?
Thanks Vincent! Do you mean invest in gold? I’m not really a big fan of investing into precious metals at this stage in my life. I think it’s more a defensive/diversification move if you want to preserve your wealth.
Just signed up for email 🚀🚀🚀 Thanks Bryan
Awesome! Thanks for the support 🙏
Thanks for these videos, very helpful
💙
If you were to park 50k only one institute which would you choose?
Hi, great video! I've got a question though... I have a saving account in Europe and investments in ETFs in that account as well... But I'm going to live to Australia next year. So, Could I transfer my ETFs (acc) from the Europe's account to anothet broker in Australia without selling them? Thanks!
Taxi, good stuff dude 🤙
Thanks man 🙏
Taco .... Ubank is my favorite place to park most of my money ........I only keep 2 or 3 bank accounts to keep it simple and easy to manage ..... i Did have a Rams account but they dont offer any more good rates .....Cheers Bryan
Cheers Sir Dino. 2 or 3 is a good sweet spot for most people. You don't have to be a lunatic like me and have more than that. Have a wonderful week ahead mate.
@@BryanInvest cheers mate same to you ,, love your work on the channel ...
Taco, thank you @Bryant. Can you recommend some books of finance?
Cheers mate. Some of my favourites:
The Barefoot Investor
Rich Dad Poor Dad
Richest Man In Babylon
Psychology Of Money
Die With Zero
The Intelligent Investor
5 Hour Work Week
@@BryanInvest perfect, I started yesterday with barefoot investor thank you
👍🏼👍🏼👍🏼 Thanks for helping
💙💙💙
Great video👌👍
Great video thanks 😊
Thanks for watching! 😃
Thanks Bryan!
🌮
Cheers Lorenzo! 🌮
Do you have to be a Permanent Resident to open a high interest savings account? It appears ubank requires to do so?
Yes, Ubank and ING are for Australian citizens/permanent residents only. However, I think the other 3 may allow international visa holders especially ANZ Plus. You can give it a try, it only takes a few minutes to apply.
Thank you for the delicious TACO 🌮 what are your thoughts on Up Bank?
From what I've heard, it's a very good bank/app. However, it 'only' offers 4.35% which is too low compared to all the options in this video. So unfortunately, it didn't make the cut.
Hey Bryan, are the banks you mentioned only for aus citizens or permanent residents? I know that temporary visa holders cannot open an account with Ubank.
Ubank and ING are for Australian citizens/permanent residents only. However, I think the other 3 may allow international visa holders especially ANZ Plus. You can give it a try, it only takes a few minutes to apply.
Hey Bryan, I really enjoy these videos. Can you please make a topic on real estate vs stocks for beginners? 🌮🌮
Thank you! Yes, this is a highly requested video so I am working on it. Please stay tuned!
Taco, new I loved it
Thanks Sandra 😊
Signed up; with Macquarie last week due to the no fuss required
Great choice. No messing about. Only high interest rates.
Taco! 🌮 please do an updated video on how beginners can buy ETFs 🙏
Good idea! I'll definitely put that on the priority list.
Hi Bryan, would you make video for comparison between High Interest saving account such as Ubank or AMP or ING VS Government bonds ? we want to know if bonds is worth it or HISA is better to keep our money for short term 1-3 years time frame
TACO TONIGHT! How about UpBank? I thought it was Ubank but apparently there's another bank with a similar name...
Thanks Ethan. I've heard Up Bank is a very good bank/app. However, it 'only' offers 4.35% which is too low compared to all the options in this video. So unfortunately, it didn't make the cut.
Hi Bryan
TACO
I have a NAB reward saver savings account and its 5% interest up to any amount as far as I know. I never hear NAB being recommended or mentioned as a high interest savings account.
Is there a reason for this ? Is it compounding interest like the others?
Hey mate, yeah I had a look and the no withdrawal requirement was a deal breaker for me. It basically turns it into a term deposit. Plenty of other banks out there that offer a higher rate with easier requirements. Compounding interest is just a term. As long as you get paid a consistent return, your money will always be ‘compounding’.
Thanks for explaining that to me Bryan.
After this month I will be using UBANK for my emergency funds.
Taco!!!! Great Vid!
Thanks! 🙏
TACO. Thank you so much, Bryan.
You’re welcome, Mary ☺️
Hey man what about AMP bank they might be okay
Yeah, they almost made my list. On paper they look great, 5.4% with an easy requirement. However, from my research I’ve seen a lot complaints about their apps and customer service. I need to do more research for it to make to make the list next time.
Taco mate!! We need video about real state investment in Australia
Thanks Fernando. Yes, I am working on some. I have some interesting videos coming out!
How about AMP Saver Account? They offer 5.4% p.a
Taco🌮 very helpful info thanks
Thanks! All the best 😊
What about nab savings account?
Good interest rate 5% but I don’t like their no withdrawal requirement which effectively makes it a term deposit.
Taco! Thanks for the good info. Found your channel only few weeks ago and almost caught up. Any chance you could please do a beginners video on buying BTC /ETH which exchanges you recommend. Pros and cons. Thanks again Bryan!
Wow, thank you for the support Frank! I really appreciate it. Yes, I will do more crypto beginner videos in the future. Stay tuned! 👍
Great channel mate love it good to have you on the platform go eagles
Thanks a lot mate. Go Eagles! 🦅
Thoughts on term deposits?
Not really a fan personally. You’re not getting that much extra interest for locking your money up. Could be a decent option if you know for sure you won’t need the money for x period of time.
How come you are not mentioning rabobank which offers 5.75% currently?? Just curious
Yes, that was one of the banks I researched. However, the 5.75% is only for 4 months then it reverts to 4.4%. I also heard from the finance community that the app is a bit outdated and slow. Too much work just to get a bit more interest rate for 4 months.
What about AMP Bank? It offers 5.4% and the only requirement is to deposit $1000 per month. Taco!
Hey Sarah, yeah I was tempted to include AMP Bank. On paper, that requirement is fantastic. The only thing holding me back was reading about some negative experience people were having with the app. Problems with opening accounts, being made to wait, transfers not going through, accounts getting locked out for extended period of time. It's definitely an option to consider but I'll have to do more research in order to include it in my next video!
Tacos! Thanks mate!
Legend! 🌮🌮🌮
Hi buddy could you recommend any app to invest in Indian market from Australia other than ibkr
Thanks in advance
Hi, sorry I’ve never invested directly into the Indian market from Australia. I’m not aware of any apps in Australia that provides this. You can have a look at something like IIND which is an ETF that tracks Indian companies from the ASX.
I love how stoked you are about finance and I’m learning a lot. Taco!
What can I say? I live and breathe personal finance 😂. Thanks man, I appreciate it!
Hello Taco Bryan. I've been learning a lot through your channel and already recommend to friends. Just one question (maybe silly question) about tax deduction from Savings Maximiser earnings: they ask us to supply our TFN, which I did as my wife did as joint holder . That means they will deduct tax from both of us or just from the account principal holder? Thank you and appreciate your help
Hey mate, thanks so much for recommending me and I’m glad you find my videos helpful! The bank doesn’t have the right to deduct anything from your account. The TFN is more a record for the ATO tracking your interest. So during tax time, since it’s a joint account, you and your wife can both report half the total interest you received during the year. So you’ll essentially only pay tax once. Hope this makes sense.
@@BryanInvest yes.. this make sense . thank you so much for your help.
Can i ask a question?
I want to start saving more (im a bad saver)
But im lucky. I have a home loan. My homeloan has an offset account.
Am i better off saving money and keeping it in my offset account? Or is it better to save it in a separate account such as ubank?
I can see 1 downside to having it in my offset, and thats the fact that i might spend it. I feel if i had a seperate account specifically for saving it would help me not touch it.
What do you think? 🌮
I was about to say keeping it in the offset was the easy and obvious choice. Perhaps create a seperate offset account and name it something you’re working towards like ‘emergency fund’ or ‘holiday fund’ to remind yourself it’s there for a reason and don’t touch it. Putting it in a seperate account probably won’t help you since you can still access it. I would say try to fix the root of the problem. Learn to be discipline with your money.
Hi Bryan,if I deposit $1000 into the ANZ account do I get 4.90% paid per month or per year? Thanks
Hey Andrew, it’s per year 😊
Just signed up to the newsletter after having a taco 🌮
Thanks, you won't regret it!
you forgot Bank Australia...
Hey mate, U bank has a lot of online poor reviews regarding customer service and accounts being locked .. your thoughts
Been with them for over 2 years and they are my main daily driver. Zero issues.
Bryan I need a favor from can you recommend which broker let you buy usa over the counter (otc) or pink shares. For example I am not able to buy Nestlé S.A. (NSRGY) & Mercedes-Benz Group AG (MBGAF). Can you please recommend a broker in Australia who let me do it
This is the best taco video I've ever seen 👀
What a compliment. Thank you mate 🙌
🌮🌮🌮🌮🌮Thanks, Bryan!
Thank you, Grace 🌮
Hi Bryan I didn’t get the 75 in ING I created the account but nothing
It will take a while. Have you made the 5 purchases with your Orange card? As long as you completed all the steps, they will send the money don’t worry.
@@BryanInvest oh ok awesome everything it’s clear, thanks Bryan and really good video!!
keep going!!
Taco! How about rabobank?
I actually checked them out. They promise a high 5.75% but it's only for 4 months then it reverts to 4.4%. I also heard from the finance community that the app is a bit outdated and slow. Too much work just to get a bit more interest rate for 4 months.
@@BryanInvest thank you , I've heard the same. One more question how do you time moving to a new bank. End of month start of month?
@@reachdigitalaus You got to look for which banks offer you interest in the first month. Some are sneaky and offer you interest only on the second month. So ideally move to a new bank once your current one has paid out your interest.
TACOO
Yes! 🌮
Taco!!!
Taco wey
The ONLY way 🌮
I opened ING account, and then hit this video, my bad 😞. thanks anyway, cheers!
Haha all good. You’ve chosen a great bank. Enjoy the interest rates!
Taco!
Cheers Michael!
The ING bank referral code is expired 😢
Yes, unfortunately it expired on the 31st March. They will likely bring it back around the end of the year.
@@BryanInvesti tried to click on the link and it seems its still valid? Can i still use it and get $75
Tacos Mate!
Cheers mate 👊
Tacos 🌮 💙
Appreciate it bro 👊
Taco 🎉
🌮💙
Tomorrow is Taco Tuesday 😋
Enjoy my friend. You have definitely earned it! 🌮🌮🌮
Tacoo😊
☺️🌮
Taco king
Haha! I like it 🌮👑
11:55 💀🤣
😂 This life ain't for everyone...
Tacos please.
Don't mind if I do 🌮🌮
Taco 🌮 😂
😊😊
I ACTUALLY LOVE TACOS
Taco Club! 🌮🌮🌮
Taco 🌮
🌮
✊
Exactly what I need to start doing right now! Thanks Bryan for educating us about 💸! I am hooked and binge watching your videos 😃
No worries mate! Much more videos to come. I appreciate the support. Wishing you all the best for the future 👊
Taco
💙
Go eagles
Yes! 🔵🟡 can’t go any worse than last year 😂
He'll yeah
Great video, though don't trust ASIC to be watching out for Australian consumers. Their level of oversight is abysmal!
taco
👊
ANZ is a worst bank.
This was a tasty Taco 🌮 gonna give ubank, ing & Moomoo a try
Cheers Shane. Enjoy them high interest rates while you can 👊
i've already applied for ubank by your link and made 5 purchases ( it said 5 not 3 ) which both of us can get30$ soon
thank your for sharing I"ll kept waiting for another clip cheers
Hey Chanya, thanks for pointing that out. It used to be 3 purchases. Looks like they’ve recently changed it. Hope you enjoy Ubank ✌️
Taco!
Taco!!
🌮🌮🌮
Taco
😊🌮
Taco!
Taco😂
🌮🌮🌮
Taco!
😋
@@BryanInvest you replied !! Haha that’s so cool ! Could you or is there any video about what kind of investment brings benefits for tax claim like franked dividend etc ? I am new in Australia and don’t understand all aspects of it .
@@TinyTalesTV1 I'll make a future video about this. But just quickly, you could look at debt recycling. th-cam.com/video/kDUJ23KIbZI/w-d-xo.html
There are also tax benefits in investing in real estate eg. negative gearing.
Taco
Thanks mate!
Taco
Taco
Taco
🌮