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What a difference a year makes! One little Global Credit Crisis and the rates come tumbling down! Deposit rates are down dramatically this year, with perhaps more drops to come. What is the best strategy now?
While we work on that, here is the latest news in the Australian scene for kid's bank accounts :
February 2009:
- www.bankwest.com.au/kids/ has come down to 8% - noting to sneeze at in this economy, if you can be organised enough to satisfy the conditions
- Dragon Direct is now rolled into St. George online banking & seems to be called Direct Saver at 4.75% -
- Newcomer SmartyPig.com.au with 5% (backed by the ANZ bank) looks great for older kids - must be 16 to open an account in your own name, but there is information on the site to help younger children have sub-accounts under a parent account
Back in 2006
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