Macquarie Bank High Interest Account

Macquarie Bank have just released a new account, it is called the Macquarie Cash XL. A simple to use, online savings account that earns you quite a high interest rate on your balance.

Offering no minimum initial investment or ongoing balance plus earn full interest on every dollar in your account calculated daily, paid monthly. Unlimited free transaction to linked account and no establishment or transaction fees.

Why go with Macquarie Cash XL?

They are very established and professional in the way that they deal with their money. Your high interest account would be safe and provide constant returns at 7.75%p.a.

Why use a High Interest Savings Account?

Using a high interest savings account allows your money to earn higher than normal interest rates on your cash. Earning interest on your money can be an effective method of increasing your overall savings sum while utilising your unused money to make you more money!

Example of why you need this account

Without a High Interest Account

Imagine you had $5000. You put it into your everyday normal account and dont touch it for 12months to allow you to save some money up for a TV you wish to buy. All of a sudden, 12 months is up – you have exactly $5000 in your account still.

With a High Interest Account

You have $500. You deposit it into your RaboPlus High Interest Account that has some of Australia’s highest interest rates and you let it sit for 12months. All of a sudden, 12 months is up – you now have $5416.39 in the account from your high interest earnings. That means you made $416.39 from an interest rate of say 7-8% over 12months – easy money if you ask me!

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