Today’s email is sponsored by Milford

Last week the RBA announced another increase
in the cash rate, bringing it to 4.1%.

This is the highest cash rate Australians have seen since 2012, and also signals the 12th rate rise in the past year! So, while this cash rate is bad news for many Aussies with mortgages, it does mean if you’ve got cash in a savings account - make sure those interest rates are working for you.

This week Bryce and Alec go through the 5 Best Savings Accounts they could find (as of time of recording - June 2023) to help you supercharge your savings.

This information is correct as of May 31 2023 and these accounts are ranked in order of highest interest paid, without qualifiers.

5. Macquarie Savings Account 5.05%

Coming in at number five, The Macquarie Savings Account gives you bonus interest for the first 4 months you have the account, with no strings attached. You don’t have to lock in the money for any length of time, there’s no withdrawal notice period and there’s no monthly fees. Easy.

4. Rabobank High Interest Savings Account 5.15%

Another bank offering a very competitive variable interest rate of 5.15% p.a. for the first 4 months. It’s available on balances up to $250,000, and you do have to be a new customer opening your first Rabobank High Interest Savings Account.

3. Great Southern Bank Youth eSaver Account 5.25% (0-17 years only)

One for any younger Equity Mates out there, (this rules out… basically the whole Equity Mates team), this is an online savings account for newborns through to 17 year olds. If you’ve a balance up to $5, 000 it will earn a highly competitive interest rate of 5.25%.

2. ING Savings Maximiser 5.25%

This is Bryce’s savings account of choice, and earns you 5.25% p.a. when you link this account to an ING Orange Everyday account. To earn the interest you must meet the following criteria each month: deposit at least $1,000; make 5+ card purchases; and grow the balance sitting in your Savings Maximiser account. You aren’t allowed to include the interest in this sum!

1. Bank of Queensland Future Saver 5.3% (14 - 35 year olds only) 

In the Gold Medal position, the Bank of Queensland Future Saver account awards a huge 5.3% on balances up to $50,000. The snag is that you have to be between 14 - 35 years old, and meet the criteria for each month. That means you have to deposit $1000 a month and make 5 or more eligible purchases from your linked Bank of Queensland Everyday Account. (And on that note, I’m off to give them a call!)

What we’re chatting about this week…

A box of free Lindt Chocolate? What are the best perks a company offers shareholders?
After our team returned from Berkshire Hathaway’s annual shareholder meeting and shopping day - we started asking ourselves if there are other great perks offered to shareholders. Here’s 7 others we found…

1.  Lindt & Sprüngli AG – Free Chocolate

   Lindt, the famous chocolate maker, offers a gift box to shareholders who vote during the annual meeting. Before you get excited, this might be the most expensive box of chocolates ever - shares are priced at over $180 000 each.

2. All Nippon Airways (ANA) - Airfare Discount

   Own more than 100 shares in ANA Holdings Inc., and you’ll be able to claim 50% off on qualifying airfares… Not bad!

3. LVMH Moët Hennessy Louis Vuitton SE – Access to an exclusive wine selection

   LVMH operates the LVMH Shareholders’ Club - where members can access special wines only on offer to them, and a magazine. Must be a pretty good magazine, tbh. You can join by submitting an application online.

4. InterContinental Hotels Group - Accomodation discounts

   The hotel group based in the UK allows shareholders to apply discounts to room bookings at their hotels all over the world.

5. Bloomsbury Publishing PLC - Discounts on books

   Bloomsbury Publishing offers shareholders a 35% discount on books published by the company. That means the entire Harry Potter series would set you back only $70.20 instead of $108 like everyone else.

6.  The Walt Disney Company – Collectible stock certificates 

   Ok, we’re going to level with you - this one isn’t quite as exciting as free chocolate. Disney boast about these limited edition stock certificates on their website - as a unique way for shareholders to commemorate their ownership. But at Equity Mates, we’re not so fond of paperwork, so we’re not sure we’ll be running out to collect this one.

7. 3M – Holiday Gift Box

   Once a year the company sends out a gift box to every shareholder who requests them. It’s a chance for shareholders to test new products, show support for 3M, and top up their stationary drawer.

Have you a better shareholder perk that you think we should know about? Send us an email [email protected] 

Have you played Biznerdle?

Guess the publicly-listed company based on a series of clues in as few tries as possible. Below is yesterday’s list… how many clues would you have needed?

How did you go? Why don’t you have a go at today’s game?
Play Biznerdle now!