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Know how to use your savings account
Wednesday November 19, 2008
If you're saving up to make a big purchase, it's probably not a good idea to be keeping your money in your everyday bank account. This might be because:
- The temptation is strong to dip into your savings if you want to splurge on something.
- Your savings might get eaten up with bank account fees.
- You might not be earning enough interest to increase your savings amount.
This last point is worth noting. A high interest savings account will earn money, simply by putting money into your savings account. All you need to do is add money to your savings account and you'll earn more interest.
The BankWest TeleNet Saver savings account is currently offering an impressive promotional rate of 6.35%p.a until 1 January 2009. You'll be earning lots of interest on your savings.
The BankWest TeleNet Saver savings account also offers:
- No bank account fees - all the money in your savings account is yours.
- No minimum deposit required.
- Interest is calculated daily and paid monthly.
- 24/7 access to your money via online banking and phone banking.
The BankWest TeleNet saver bank account is covered by the No Loss Security Guarantee.
You can apply for the BankWest TeleNet Saver savings account online.
Compare savings accounts.
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