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ANZ, Commonwealth banks slash savings rates – NEWS.com.au
ANZ, Commonwealth banks slash savings rates
Pressure from Australias low interest rate environment has dealt another blow to savers with two major banks taking a knife to rates across deposit accounts. ANZ on Friday slashed savings rates by 10 basis points on both its standard and conditional savings accounts, while Commonwealth Bank has chipped five basis points off its conditional products.
It follows similar moves in recent weeks by other major banks, including CBA, that have passed on out-of-cycle rate cuts onto customers.
ANZ’s standard…
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