CBA and Westpac shave savings rates to new lows – NEWS.com.au

Two of the nations largest banking groups have swung an axe at savings rates, adding further pain to Australians attempting to build their wealth. Both Westpac and the Commonwealth Bank on Friday shaved rates on standard and conditional deposit accounts to levels below 0.5 per cent.
Westpac has clipped its standard eSaver account by 15 basis points. It now attracts a five-month introductory rate of 0.4 per cent before reverting to an ongoing rate of 0.05 per cent.
The bank’s conditional Life account…

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