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Are you looking to grow your savings? Compare a wide range of savings accounts with Savvy so you find the best deal in Australia and the highest interest rate to help grow your savings.
Rabobank High Interest Savings Account |
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Rabobank’s High Interest Savings Account helps grow your savings while offering flexibility and easy access to your money.More details |
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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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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.
Opening a joint savings account with a significant other is a big step in any relationship. Just as you would when buying a car or a house with your partner, it’s important to shop around for the best option.
Fortunately, this process is fuss-free with Savvy. Find out more about how to compare joint savings accounts in Australia to help make the choice easier right here and get your shared savings journey started today.
Opening a joint savings account can be a great way of hitting your savings goal with your partner or another close person in your life. When you open your account, you’ll have to nominate who has access. You can modify this at any time and all account holders will need to agree to the changes. Your options include:
Comparing various joint account deals with Savvy will help you lock in the best deal for your savings. It’s important to drill down and look at the many variables when weighing up which account to open. These can include:
Savings goals
Whether you’re saving for a wedding or a house, everyone’s goals are different. It’s important to sit down with your partner and agree on what you’re aiming for financially. Having a clear picture of why you’re saving will help you choose the right joint account to achieve your shared target. For instance, you should weigh up how flexible or restricted you want the account to be and how often you’ll be depositing. If you’ll both be making large deposits over a short period, you’ll likely want a more accessible account rather than a term deposit. You can use Savvy’s online calculator to work out how much you’ll need to deposit to reach your goal.
Interest rate
One of the benefits of a joint account is your balance grows faster because two people are depositing money, so finding a strong interest rate will further boost your savings. Make sure you compare the different types of interest you can earn on a joint account, including:
Fees
Charges such as monthly account fees can seem negligible but have the potential to eat away the interest you earn. Joint savings accounts for couples have the added luxury of two people making deposits, which can reduce the impact of fees on your balance. By comparing with Savvy, you get a side-by-side comparison of accounts and their fees. The majority of institutions offer fee-free accounts, but some will make it conditional on you making minimum monthly deposits or limited withdrawals.
Linked accounts
You should be able to hook up an everyday account to your joint savings account. That way you can put two incomes towards bills and living expenses. It’s worth comparing whether the institution you’re with requires a linked account to be opened with them, or you can open an account with a separate institution.
Joint accounts can suit people in all sorts of partnerships. Some of the people who typically open joint accounts include:
Couples
These accounts are handy if you’re engaged and saving for your impending nuptials or have tied the knot and want to save for a car or a new house. You may even just want to save for a new TV with your boyfriend, girlfriend or significant other if you’re not married.
Flatmates
If you’re living in a share house, a joint savings account could be a nifty way of saving for much-needed communal products such as a washing machine or a new fridge. If you go down this path, though, make sure all your housemates have to sign if one party wants to release money.
Business partners
When running a small business, a joint savings account can be a handy way for multiple partners to deposit into the same account to purchase goods like cars or computers.
You won't have to pay a cent to compare savings accounts with us, so you can do so at any time you like.
There's no need for you to worry about visiting any banks, as you can compare accounts and open one online.
We're partnered with trusted financial institutions around Australia to bring more quality to your comparison.
By comparing your joint savings account options with Savvy, you’ll be in a great position to find the one which fits you and your partner like a glove. We give you all the tools and tips to compare deals so you can focus on achieving your savings goal.
It’s important to open an account which suits your savings goals. If you’re saving for an upcoming holiday and will be depositing larger amounts over a short period, you’d be better off opting for a flexible high interest account than a term deposit. Using Savvy’s online calculator allows you to work out how long it will take to reach your savings goal.
When you open a joint savings account, you’ll be placing a great deal of trust in your co-signer. Not only will this personal be able to deposit and withdraw money, but they’ll also be able to track your spending habits. Picking someone you have a close relationship with, such as a spouse, family member or long-term partner, can save you plenty of hassle and reduce the risk of things going sour.
Trying to divide a joint account in the event of separation can be messy and complex. Plan ahead and talk about how the funds will be divided if your relationship breaks down or if the joint account simply isn’t working out how you desired.
Use our savings calculator to help you calculate how much you could save over a set timeframe based on different deposit sizes and frequencies.
Your savings can put in work for you. Crunch the numbers to see how much interest you could earn on top of your interest by compounding daily, monthly and annually.
It's crucial to have a clear idea of your monthly household budget to see where your money is going and where it could potentially be better spent.
If you're applying for a loan or need to know what your salary is for your tax return, you can use our annualisation calculator to work out what you'll earn this financial year.
Setting savings goals is important. With this tool, you can work out how much you'll need to deposit to reach your financial aims over a set timeframe.
Just as important as knowing how much to deposit is working out how long it'll take to reach your goals. This savings goal calculator can help you do just that.
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.
