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Finding the best bank account can save you hundreds on fees and connect you with the very latest in smart banking technology. Compare bank accounts from a wide variety of providers with Savvy to find the very best offers available on the market right now.
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Use invite code SAVVY10 for $10 upon successful sign-up. (Refer to offer T&Cs on Up website)More details |
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ING Orange Everyday |
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Rebates on ATM fees anywhere in Oz. No ING international transaction fees. Zero monthly fees.More details |
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No monthly account fees ever, with no conditions. Free use at over 7,000 ATMs around Australia. No overdrawn fees if you happen to go over your account balance. Open an account in less than 7 minutes.More details |
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Get $40 with a new Complete Freedom everyday bank account.More details |
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Westpac Choice |
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Westpac Choice for easy day-to-day bankingMore details |
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Disclaimer: Savvy is not advising or recommending any particular product to you. We provide general information on products for the purposes of comparison, but your personal situation or goals are not considered here. Although we try to make our comparisons as thorough as possible, we do not have information on all products on the market on our site.
You should always consult a given offer's PDS or further documentation in the process of deciding on which loan to choose, as well as seeking independent, professional advice. If you decide to apply with one of the lenders listed above via our website, you will not be dealing with Savvy; any applications or enquiries will be conducted directly with the lender offering that product.
If you have funds to invest, there’s a multitude of different investment bank accounts which can help you to achieve the best return on your money. Take a look at the variety of investment bank accounts available with Savvy and how you should compare account features to find the most suitable one for your individual investment needs.
Investment bank accounts are offered by banks (or other specialist financial institutions) which are intended to be a long-term solution to grow net wealth. They usually form one part of a balanced investment portfolio and sit alongside investment property, shares, bonds and superannuation accounts. Separate accounts are also available for business investment in Australia.
The type of investment bank account you choose will depend on several factors, with the main one being what sort of return you’re looking for. Are you just after the highest interest rate on your savings, or do you want a steady regular income which could result from investing in blue-ribbon shares which pay regular dividends? Alternatively, you may be looking at long-term capital growth, in which case property investment options are where you should concentrate.
The options you have available to you as far as investment bank accounts go are also dependent on the principal sum you have to invest, the time period you have in mind for your investment and how much access (if any) you wish to have to your funds. Your risk profile (how much risk you’re prepared to take to maximise your investment potential) will also play a part in your choice of account.
High-interest savings and term deposits
High-interest savings accounts and term deposits are the most passive form of cash investment. Savings accounts (particularly ‘locked’ savings accounts) can offer a bonus rate of interest if various conditions are met, such as a set amount deposited into the account each month or restrictions on withdrawals (either the number of withdrawals allowed per month or a limit on the dollar amount withdrawn). You can compare your high interest savings account options with Savvy to help you find the best one for your needs, alongside a range of suitable bank account offers.
Term deposits similarly offer a higher interest rate the longer the term of the deposit. Both of these account types are essentially ‘set and forget’ savings options which offer a risk-free place to park your savings and watch them grow over time. However, they offer comparatively low interest rates compared to other forms of more active investment, which may carry a higher risk profile.
Managed investment bank accounts
These are accounts offered by banks and other specialist investment institutions which offer to actively manage your funds using a combination of fixed deposits, bonds, exchange-traded funds (ETFs), Australian or international shares and property investment. They often have a minimum deposit size (often starting from $5,000 up to $10,000 or even $50,000) and are aimed at the more serious passive investor.
Experienced fund managers actively manage the investment account, making all the buying and selling decisions on your behalf according to the parameters you may have specified. You pay either a set fee for services or a percentage of the funds under management per annum. For example, one of the larger banks offers a managed investment account for an annual 3% p.a. fee, while another offers a managed account for an annual $865 package fee.
Some managed funds offer ‘units’ of the fund for sale. For example, an investment of $15,000 at a unit price of $1 buys you 15,000 units. The value of each unit goes up and down and reflects the market value of the assets held in the entire fund. You may earn income (often called a ‘distribution’) from dividends or from the interest the fund earns. You can either reinvest this interest to buy more fund units or receive it as a cash income.
What control do I have over managed funds?
If you’re a serious investor with a nest-egg to stash, you may be able to specify how you wish your funds to be invested on your behalf in a managed account. Common areas where you are given a choice include:
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You can compare accounts and choose to open one online from wherever you are, at home or on the go.
By partnering with trusted Australian institutions, you can be more confident when comparing offers with us.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
