Use a High Interest Savings Account for your Emergency Cash

Use a High Interest Savings Account for your Emergency Cash

6 November 2008

It's a good idea to put aside some money for emergency purposes but you can find that a ordinary transaction account just doesn't cut it when it comes to paying interest. Many bank accounts don't actually pay interest or they pay as little as 0.1% pa.

So if you have funds set aside for emergencies and don't need to touch it consider a high interest savings account. Don't let your money languish in a zero interest transaction account.

Currently, BankWest TeleNet Saver is paying a competitive interest rate of 7.1%. Be quick though this is a limited time offer and will not last long.

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