Shock $2170 missing from average Aussie savings account

Millions of Aussies are missing out on higher interest rate payments on their savings despite the Reserve Bank of Australia announcing three interest rate hikes this year, new research shows. The Finder.com.au polling revealed close to one in five savers missed out on bonus interest, the headline rate banks use in marketing to draw new customers, because they didn’t meet the monthly criteria. The research showed the typical Australian account holder had $37,741 parked away in savings that should have generated an additional $2,170 in average interest earnings. MORE: Highest paying ‘side hustle’ in Aus revealed Instead, this money was being left on the table by 18 per cent of savers because they drew money from their accounts or failed to make deposits, exposing them to much lower non-bonus rates. Many Aussies are not getting paid the full interest they could be getting. MORE: ‘Support’ for Albo’s home crash slammed as ‘ridiculous’ Finder estimated 3.8 million Australians had left money on the table due to not meeting bonus interest rate requirements. The research has blasted a hole in a long-held claim that interest rate hikes, while punishing for mortgage holders, reward savers, w...