Explore the latest developments concerning Ubank lifts Welcome.
Want the highest possible savings rate? You might find there’s a catch
SBS acknowledges the Traditional Custodians of Country and their connections and continuous care for the skies, lands and waterways throughout Australia.
When the Reserve Bank lifts interest rates, borrowers pay more through higher mortgage rates and repayments, but savers benefit too.
This week, research from Canstar showed the highest ongoing savings rate hit 6 per cent, a level it says hasn't been seen in Australia in well over a decade.
The catch, however, is that you generally need to be young to qualify.
One bank, for example, offers that rate to those under 25, while another offers it only to those aged 14 to 35.
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