Friday, 8 February 2008

Interest Rates Going Up - Not All Bad News

I received an email from St George today, advising that due to the Reserve Bank of Australia increasing their cash rate, my directsaver (their version of an online ING style account) will be passing on the increase.

Effective the 18th February 2008, I’ll get a variable interest rate of 6.75%p.a.

I use these types of accounts for my holiday and emergency funds so I’ll be looking to restock them as quickly as possible to take advantage of it.

No doubt I’ll have any benefit taken away with yet another rise in my credit card interest rates across the board, but I’ll wait for that to happen before I worry.

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1 comment:

  1. Wow, you've got a lot better rates there than we do in Canada :-)