aps savings account

We know that many Australians are feeling uneasy about low-interest rates. However, that doesn’t mean that your only option is to sit and wait for rates to improve. There are plenty of options when it comes to boosting your savings. Some options will even allow you to triple your savings potential this year. An APS Savings account will help you save more – let’s show you how!

Brian and Sue opened an APS savings account

By looking beyond what major banks are offering, you are likely to find high-interest accounts that provide very similar products but with a significantly higher interest rate. APS Savings customers Brian and Sue opened a 31 Day NOW (notice of withdrawal) account when their grandchild was born. They kickstarted the account with a deposit of $200. For every special occasion such as birthdays and Christmas, they contributed $50. By the time their grandchild was 5 years old, they had accumulated over $1,000 in the account with a healthy 3.50% p.a. interest rate.

How they tripled their savings?

Brian and Sue were eager to continue to grow their savings even further. They decided to transfer this $1,000 to an APS Term Investment for 12 months at 4.00% p.a. When they renewed that investment, they took advantage of the 0.25% p.a. bonus interest rate which is offered on all APS Savings re-investments, meaning that their total interest rate was 4.25% p.a. – that’s three times what most major banks were willing to offer.

Ready to skyrocket your savings?

It’s easy to fall into the trap of accepting low-interest rates, however, it is important to understand that there are options for anyone who wants to increase their savings potential. Not sure about what to do next? Learn more about about APS 31 Day NOW accounts and Term Investments here. Whether you are saving for your first home, for your retirement or for a special occasion, there are plenty of ways in which you can reach your financial goals in 2020. Call the team today on 1300 131 809.