Commonwealth Bank customers take hit as bank shaves savings rates – NEWS.com.au

Commonwealth Bank has dealt a blow to savers with the major bank slashing savings rates on deposit accounts, including the financial product it offers to kids. The big four bank has shaved five basis points from its NetBank Saver and Youthsaver accounts, as the ongoing low interest rate environment sparked by the coronavirus pandemic has placed downturn pressure on savings potential.
CBA’s NetBank Saver now attracts a five-month introductory rate of 0.9 per cent and an ongoing rate of 0.05 per …

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