RBA cash rate and CPI updated 10 October 2026; selected savings, ETF and kids offers refreshed 11 October 2026; other product rates last verified mid-August 2026. HISAs, term deposits, the Term Plus alternatives (La Trobe Financial & similar), attractive-yield bond ETFs and the safety-net rules every saver should know.
The RBA cash rate and CPI figures were updated on 10 October 2026. The Ubank, Community First, La Trobe 12-month, QPON, Westpac Bump and CommBank Youthsaver figures were checked on the issuers' own pages on 11 October 2026; ING, AMP, Macquarie, BOQ and the other refreshed cards come from issuer announcements or comparison sites, and each card says what still needs verifying. All other product rates (term deposits, the rest of the La Trobe range, other bond ETFs) were last verified mid-August 2026 from Canstar, Finder, Money.com.au, Savings.com.au and direct issuer sites. The RBA raised the cash rate to 4.60% on 29 September 2026, so many of these product rates may have changed since. They change with every RBA meeting (next: RBA 3 November 2026 meeting) and often between meetings as banks compete for deposits. Verify on the issuer's website before applying. Bonus-rate HISAs require monthly conditions — miss one and you earn the base rate only. Always consult a licensed Australian adviser before large allocation decisions.
Rate hierarchy: RBA cash → flat HISA (5.10%) → bonus / intro HISA (5.50-6.25%) → 12-mo TD (5.35-5.60% special) → long TD (5.40-5.60%) → Term Plus/credit funds (6.75%) → corporate bond ETFs (5-6%) → sub debt / hybrids (6%+). This is a rough guide to where yields sit, not a risk ranking: a promotional bank HISA is FCS-covered but the rate is temporary, while credit funds and bond ETFs add credit and price risk that deposits don't have. Verify each figure on the issuer's own website before applying. Sources: Canstar, Finder, Savings.com.au, La Trobe Financial, RBA.
Most retail investors hold either too much cash or not enough. The Outback Investor view: cash plays three distinct roles, and you size each role separately, not lump them together.
1. Emergency fund (HISA). 3-6 months of essential expenses for stable employees; 6-12 months for FIFO, contractors and the self-employed. Held at-call, untouchable except for real emergencies. Build it before a dollar goes into shares.
2. Short-term goal cash (HISA + TD ladder). Anything needed within 5 years — house deposit, wedding, planned purchase. Equities too volatile for <5-year windows; bond ETFs have duration risk. HISA for next-12-months + TD ladder for 1-5 years.
3. Portfolio dry powder (Cash ETF or HISA). Cash to deploy into under-balanced positions as new contributions arrive. The OIM approach rebalances by buying laggards, never by selling winners.
Real-return reality check (October 2026). With the cash rate at 4.60% and CPI at 4.0% (12 months to August 2026), the real return on cash is roughly +0.60% before tax. After your marginal income tax rate (typically 30-45% for most working Australians), the real return after tax is negative. Cash protects nominal value — it doesn't grow real wealth.
If you have a home loan, the best home for spare cash often isn't a high-interest savings account at all — it's your offset account. This is one of the highest-impact decisions on this whole page, so it's worth two minutes.
An offset account is a transaction account linked to your mortgage. Every dollar sitting in it is subtracted from your loan balance before interest is charged. Park $20,000 in an offset against a 6% home loan and you're charged interest on $20,000 less — saving you $1,200 a year. That saving behaves exactly like a guaranteed, risk-free return equal to your mortgage rate.
Here's the part most people miss — the tax. A savings account pays you interest, and that interest is taxable income at your marginal rate. An offset saves you interest you would have paid, and the ATO doesn't tax money you never received. So, for an ordinary non-deductible home loan (e.g. your own home), an offset return is tax-free. To compare fairly against a taxable savings account, you have to “gross up” the mortgage rate:
| Option | Headline return | Taxed? | Equivalent pre-tax return* |
|---|---|---|---|
| Top savings account (4-month intro rate) | ~6.25% p.a. | Yes — at your marginal rate | 6.25% (already pre-tax) |
| Offset account (6% home loan) | 6.00% p.a. | No — tax-free | ~8.8% p.a. |
*Gross-up on a 32% marginal rate (incl. 2% Medicare levy): 6% ÷ (1 − 0.32) = 8.8%. The higher your tax rate and mortgage rate, the more the offset wins.
Important exception — deductible loans. If the loan interest is tax-deductible (typically a loan for an investment property or other income-producing assets), reducing the interest also reduces your deduction, so the saving is only worth the rate after tax: 6% × (1 − 0.32) ≈ 4.1% at a 32% marginal rate. In that case the gross-up above does not apply and a taxable savings account is compared like-for-like at its pre-tax rate. Mixed-purpose or partly deductible loans fall in between, so the deductible share matters. Ask a tax agent how your loan is treated.
In plain terms (non-deductible loan): a 6% offset can be worth the same as a savings account paying ~8.8% before tax — a rate no Australian bank is offering. And unlike a bonus HISA, there are no monthly hoops, no balance caps, and no intro-rate cliff. The money stays fully accessible for emergencies.
The trade-offs to know: an offset only helps if you actually have a mortgage with a genuine offset facility (some “offsets” are really redraw — check the product). If your loan rate is lower than the top savings rate, the maths can flip. And this compares offset against cash; deciding between paying down the loan and investing for a higher expected (but riskier) return is a separate question — that's exactly what the calculator below models.
Run your numbers: Offset vs Investing Calculator →
Everyone's loan terms, tax position and goals differ, so this is general education, not personal advice. Use the calculator to model your own figures, or chat to a licensed financial adviser before moving a large sum.
A headline 6.75% is not what lands in your pocket. Enter a product's advertised return, your income and how the return is taxed, and see what's left after tax, CGT and inflation.
La Trobe, HISAs, term deposits and bond coupons are income. Share/ETF price growth is a capital gain.
How this works: Income (interest, rent, coupons) is taxed at your full marginal rate in the year received — no discount. Capital gains on assets held over 12 months get the 50% CGT discount, so only half the gain is taxed. This is a simplified single-year illustration using 2025–26 ATO resident rates incl. 2% Medicare levy; it ignores franking credits, the tax-free threshold stacking, capital losses and offsets. Products like La Trobe are not FCS-covered and carry credit risk regardless of the after-tax number. General education only — chat to a licensed financial adviser or registered tax agent before investing.
Variable-rate savings products with the highest yields — typically structured as a low base rate plus a bonus rate when you meet monthly conditions (deposit $X, no withdrawals, X+ debit-card transactions, balance growth). Sorted highest to lowest headline rate. Cards showing a date of 11 Oct 2026 were refreshed from issuer announcements and comparison sites; the rest were last verified in August 2026. Headline rates are often introductory — each updated card shows intro rate, ongoing rate, balance cap and conditions separately. Rates change weekly; always confirm with the issuer.
6.25% p.a. for the first 4 months on balances up to $500,000, reported to apply from 9 October 2026. Then 5.65% as long as the balance grows by at least $100 each calendar month (excluding interest). New customers only — no previous ING personal savings account. Miss a month’s condition and the Boost portion is lost. Two comparison sources still showed 6.00%, so confirm on ING’s rate page.
Learn more ↗6.25% p.a. for up to 4 months for eligible new customers who join from 9 October 2026 (the ongoing bonus rate plus a fixed 0.90% welcome margin), then 5.35% ongoing, on combined savings up to $1,000,000. To earn bonus interest you must grow your total Save balance by at least $1 each month (interest doesn’t count; Spend and Bills accounts are excluded) and hold a Ubank Spend account. Special rules apply if a Save account is used as an offset. No account fees; deposits and withdrawals allowed. NAB-owned, FCS-covered. Rates are variable.
Learn more ↗5.90% p.a. for the first 4 months on balances up to $250,000. Dutch-owned, FCS-covered ADI. Second-highest intro rate on the market this cycle.
Learn more ↗Up to 5.80% p.a. variable on balances up to $50,000, for ages 14–35 only. Ages 14–17 reportedly have no monthly requirements; adults need to move at least $1,000 a month into the linked Everyday Account and make five eligible transactions. Rate drops sharply above $50,000. Ongoing variable rate, not an intro offer. Not available to everyone — check eligibility first.
Learn more ↗5.75% for the first 4 months on balances up to $250k, no monthly deposit or withdrawal conditions, then 5.00% ongoing. Requires a linked Easy Transaction Account; the intro offer is not available if a previous Easy Saver intro ended within the past two years (per research — verify). CBA-owned ADI.
Learn more ↗5.75% p.a. ongoing bonus rate for ages 18-34, on balances up to $30,000. Requires balance growth each month. Ages out at 35.
Learn more ↗5.50% p.a. on the first $50,000, 5.00% on $50,000.01–$250,000 and 4.50% on $250,000.01–$5 million. No monthly deposit, balance-growth or card-transaction conditions. Ongoing variable rate, not a welcome offer. Per AMP’s October 2026 announcement (effective date reported as 6 October); this replaces the 5.25% tier set from 21 August. FCS-covered.
Learn more ↗5.25% intro for 5 months (online applications, first-time eSaver customers only). Falls to just 1.25% after intro — classic teaser-rate trap, move funds before it drops.
Learn more ↗5.10% p.a. with bonus conditions met: $200/month deposit and a maximum of one withdrawal per month. The one-withdrawal cap is the unusual constraint.
Learn more ↗5.00% p.a. ongoing, no conditions, on balances up to $2,000,000 — same rate whether you are a new or existing customer. Macquarie has announced increases from 15 October 2026: the first $250,000 moves to 5.25% and the $250,000–$2 million band to 5.05% (interest is paid per band). The new rates are not in force yet.
Learn more ↗Bonus rate (~4.75% p.a.) on the first $100k requires $1,000 deposit/month + 5 settled card transactions + balance growth. Down from ~5.50% earlier in 2026 — this figure needs re-checking against ING's own rate page, the most recent source we could verify wasn't clearly dated to August. Miss any condition and you earn 0.01%.
Learn more ↗4.50% p.a. total (0.10% base + 4.40% bonus), down from 5.10% in July. Bonus only needs balance growth of $100+/month — no transaction count, no deposit hurdle.
Learn more ↗4.50% p.a. with the Lock Saver feature activated (4.20% without), on balances up to $250,000, monthly conditions met. Down sharply from ~5.50% in July. Owned by Bank of Queensland.
Learn more ↗NZ-headquartered with Australian ADI status. Historically a competitive flat-rate at-call saver with no monthly conditions — current rate wasn't in this update's source data, check heartland.com.au directly before relying on it. FCS-covered.
Learn more ↗Some youth accounts pay competitive interest and offer one-off sign-up bonuses. We show them as two separate fields: a $50 welcome bonus is not a recurring interest rate, but for a child with a small balance it can be worth more than a small rate difference. Rates are variable, and promotions come with age limits, new-customer rules and end dates. Check every offer on the provider’s website before applying — offers can close or change without notice.
$50 cashback when you open a new Choice Youth account and an eligible savings account (Bump or eSaver) together and deposit at least $50 into Choice Youth within 10 days; Westpac then adds $50 to the savings account once the criteria are met. You must not have held any Westpac transaction or savings account in the last 2 years (joint accounts not eligible; one payment per eligible child). Bump earns up to 5.30% p.a. (1.75% base plus 3.55% bonus) only in months when the balance never falls below $0, you make at least one eligible deposit (interest doesn’t count) and the month-end balance is higher than last month’s. *End date: Westpac’s page shows two different dates — its main banner says accounts must be opened between 1 February and 30 September 2026, while the Choice Youth product card on the same page says by 31 March 2027. Confirm the current date in Westpac’s offer terms before applying.
Official offer & T&Cs ↗Link a Youthsaver account to the child’s Kit profile in the Kit app between 7 September and 31 October 2026; CommBank says the $20 is credited to the Kit profile up to 8 business days after linking, not into the Youthsaver balance. Both accounts must stay open and active, and a profile already paid this bonus is excluded. Youthsaver pays up to 5.30% p.a. (2.35% standard plus 2.95% bonus) on balances up to $50,000 when you grow the balance each calendar month (excluding interest and bank-initiated transactions); above $50,000, or if you miss a month, the 2.35% standard rate applies. Rates effective 9 October 2026; no monthly deposit is required. Check Kit fees and eligibility.
Official offer & T&Cs ↗Reported up to 5.80% p.a. on balances up to $50,000, with 14–17-year-olds reportedly exempt from the monthly deposit and transaction requirements that apply to adults. Needs a linked BOQ Everyday Account and the myBOQ app. Worth comparing for older teenagers. Rate and conditions: confirm on BOQ’s page.
Official product & conditions ↗5.50% p.a. variable on the first $5,000; 1.00% on the portion above. No monthly deposit or balance-growth condition to earn the rate, and withdrawals do not cancel eligibility. Converts to a Goal Saver at 18; children under 10 need a parent or guardian as signatory. Rate per the bank’s product page — recheck before applying.
Official rate & conditions ↗Westpac's promotion pays a one-off $50 if all requirements are met; it is not an ongoing return on the deposit. The initial $50 goes into the everyday account and Westpac pays its $50 into the eligible savings account. Compare the interest rate after the bonus and the conditions needed to keep earning it.
Tax and ownership: Interest isn't automatically tax-free because the account is in a child's name. The ATO looks at who beneficially owns the funds, and special tax file number and withholding rules apply to children's accounts. See the ATO website for its guidance on children's savings and investment income, and ask a tax agent if you're unsure. These savings accounts are different from investments held through an informal trust.
Verification: the Westpac, CommBank Youthsaver and Kit figures were checked on the issuers' own pages on 11 October 2026, and the CommBank Kit dates match its terms. Westpac’s page shows conflicting offer end dates (see the card). The BOQ and Great Southern Bank rates were not re-checked on 11 October. Promotional offers may be withdrawn or amended; interest rates can change without notice. General education only, not personal advice.
Lock a balance for a fixed term at a known rate. Community First’s 12-month special was checked on its own page on 11 October 2026; all other rates here were last verified mid-August 2026 from Canstar, Finder, Money.com.au and Savings.com.au databases — since the RBA's September hike, some are likely higher. Also compare how often interest is paid (at maturity, monthly, annually), and note limited-time specials often apply only to new money. Trade liquidity for certainty — breaking early triggers an interest penalty. Ladder maturities (e.g. $50k each at 3, 6, 9, 12 months) to spread reinvestment risk.
5.60% p.a. for 12 months, effective from 2 October 2026 and available until 31 December 2026 or until the limited allocation is reached; it can be withdrawn at any time. New money only — funds that were not held with Community First (or its Easy Street brand) in the 14 days before you enquire. Deposits $10,000 to $1 million. Early withdrawal may incur an interest penalty and up to 7 days’ written notice. Eligible deposits to $250,000 are covered by the Financial Claims Scheme. The bank also says it will lift variable deposit rates for existing members by up to 0.25% from 16 October.
Learn more ↗5.35% p.a. for 12 months, $5,000 minimum, interest at maturity. Currently the top 12-month rate from a Big-bank-tier ADI on the major databases.
Learn more ↗5.40% at 2 years, 5.40% at 3 years, 5.50% at 4 years. Pure-play SME bank; FCS-covered ADI. Long-duration leader for laddered or set-and-forget retirement income.
Learn more ↗5.60% p.a. for 5 years — current highest long-term rate on the market. Useful for retirement-income laddering. Dutch-owned, Australian ADI, FCS-covered.
Learn more ↗5.50% at 5 years for customers aged 55+, $5,000+ deposit, interest end-of-term. Age-restricted special rate — strong retirement-income option.
Learn more ↗5.15% p.a. at 12 months for deposits between $25k and $10M. Higher minimum than Macquarie/Judo, but a familiar AMP brand with full ADI status.
Learn more ↗5.40% p.a. at 12 months, interest at maturity. Open to all Australians despite the name. Mutual ADI, FCS-covered.
Learn more ↗5.20% at 2 years, 5.10% at 3 years. Customer-owned, climate-active. Mid-term sweet spot for ladder buyers.
Learn more ↗5.25% p.a. for 5 months — short-term special, useful for cash that needs to wait 4-6 months. WA-based mutual, FCS-covered.
Learn more ↗Big 4 banks consistently lag the digital/mid-tier challengers on TD rates — typically 4.50-5.00% on 12 months in July 2026. Convenience and existing-relationship is what you trade for the lower rate. All FCS-covered.
Learn more ↗NZ-Australia digital bank. Generally mid-pack but consistently above Big 4 on 6 and 12-month terms. FCS-covered ADI.
Learn more ↗Higher-yield alternatives to term deposits — but they are not bank deposits and not FCS-covered. These products invest in registered mortgages, private credit and corporate debt. Higher returns come from taking credit risk. Read the PDS in full. La Trobe Financial dominates this category in Australia.
Term Plus / private-credit products like La Trobe Financial's 12 Month Investment Account are not bank deposits. They are not covered by the Financial Claims Scheme. You can lose some or all of your principal. The 6.75% headline yield is higher than any term deposit because you are taking credit risk — the fund is secured by registered mortgages but those borrowers can default in a downturn. Rates are reviewed monthly and can fall. Read the PDS section 9 risk disclosures in full before investing.
6.75% p.a. variable, $10,000 min. This is the rate La Trobe’s own page still shows (effective 1 July 2026, after fees and costs, reviewed monthly) — checked 11 October 2026, so it may not be today’s rate. Renamed from “12 Month Term Account” on 12 Mar 2026. Secured by registered Australian mortgages. NOT a bank deposit. NOT FCS-covered. Reviewed monthly — rate can fall. Money mag “Best Credit Fund – Mortgages” 17 years running.
Learn more ↗Classic Notice Investment Account — 90-day notice period for withdrawals. Lower rate than 12-month but more flexible access. Same credit-fund structure: secured by mortgages, no FCS, capital at risk.
Learn more ↗Withdrawals require 180 days’ notice; La Trobe says it aims to release funds in that time but does not guarantee it. Variable rate, reviewed monthly — reported at 5.60% p.a. as at 1 July 2026 (verify the current rate on La Trobe’s site). NOT a bank deposit. NOT FCS-covered. Capital at risk.
Learn more ↗Renamed from “2 Year Account” on 12 Mar 2026. Monthly income. Two-year horizon for stable monthly distributions. Not FCS-covered, capital at risk — review PDS section 9 risk disclosures.
Learn more ↗Renamed from “4 Year Account” 12 Mar 2026. $250,000 minimum investment. Diversified credit, both domestic and global. For high-net-worth investors seeking duration with monthly income.
Learn more ↗ASX-listed wrapper combining the 12-Month Investment Account + US Private Credit Fund. Buy and sell via any standard broker. ASX liquidity, single ticker, but underlying still credit-risk exposure.
Learn more ↗Direct exposure to senior secured US corporate loans. AUD-hedged. Owned by Brookfield Asset Management (acquired La Trobe 2022). Diversified geographically vs the AU mortgage funds.
Learn more ↗Lower headline rate than bonus HISAs but no monthly conditions, accessible at any time. Best as the day-to-day liquid layer of an emergency fund or as overflow alongside a bonus HISA where the bonus HISA holds the “eligible” balance.
NAB-owned digital bank. Not a no-conditions account: its 5.35% ongoing Save rate needs monthly bonus conditions (grow total savings by $1 and hold a Spend account) — see the Ubank Save card in the HISA section. FCS-covered via NAB.
Learn more ↗After the 4-month intro, ING Savings Accelerator pays a tiered ongoing rate — higher rates on higher balance tiers. No bonus conditions.
Learn more ↗App-only digital bank backed by Bendigo Bank's ADI licence. Maybuy savings goals and Round Ups make it strong for FIFO/shift-work savers. FCS-covered via Bendigo.
Learn more ↗Aimed at under-35s. Tiered structure — higher rate on first ~$5k, lower above. Pairs naturally with Spaceship Voyager for investing.
Learn more ↗Macquarie's everyday transaction account also pays interest at a flat rate — unique among Big-bank-tier transaction accounts. Useful as a high-balance hub.
Learn more ↗Pearler brokerage's cash product. Not an ADI itself — cash held with underlying ADI partner. Read disclosure carefully; check FCS coverage on the specific partner.
Learn more ↗Exchange-Traded Australian Government Bonds (eTBs) and Treasury Indexed Bonds (eTIBs) trade on the ASX like shares. Backed by the Commonwealth Government — the closest thing to a risk-free Australian asset. 10-year AGB yield ~4.40% in July 2026 — lower than HISAs/TDs because there's no credit risk.
Fixed-coupon AGS securities traded on the ASX. Multiple maturities available (2026 through 2050+). Buy through any standard ASX broker. Coupons paid semi-annually.
Learn more ↗Capital value indexed to CPI; quarterly coupons paid on the indexed capital. The only direct way to buy CPI-protection from the ASX. Strong fit for retirement-income laddering.
Learn more ↗Illustrative: eTBs with a year or two to run behave most like cash; long maturities have material price sensitivity to rate changes. Check the AOFM and ASX for current maturities — an April 2026 example line (GSBE26) has since matured, so it is no longer listed here.
Learn more ↗eTBs and eTIBs accessible through any ASX broker (CommSec, CMC, Stake, Pearler). Minimum holding one $100-face-value unit. No wholesale account required.
Learn more ↗Australian Office of Financial Management publishes daily yield curves. Check before laddering or buying a specific maturity.
Learn more ↗Floating-rate, credit and hybrid exposures have led bond ETF returns 12mo to March 2026. Long-dated government bonds remain the weakest category. Bond ETFs are not cash — unit prices move with rates. Yields here are not all on the same basis: most are running yields (annual coupons ÷ price), QPON shows an issuer-quoted all-in yield, and figures differ in whether they are before or after fees. SUBD, FLOT and YLDX were last checked 8–9 July 2026 and need refreshing from the issuer factsheet; QPON was confirmed on Betashares’ own page on 11 Oct 2026 (all-in yield as at 9 Oct). Yields move daily — confirm the live figure and its definition on the issuer page before buying.
Running yield 6.06% (checked 8–9 Jul 2026 — needs refresh). Australian bank Tier-2 subordinated debt — higher yield than senior bank debt, lower in the capital stack. BBB+ average rating, 19 holdings. 0.29% MER.
Learn more ↗Renamed 31 March 2026 from “Active Australian Hybrids”. Now actively managed diversified credit — cash, senior + subordinated bonds, hybrids. Reflects APRA's phase-out of AT1 bank hybrids by 2032. Monthly income, 0.55% MER, ~$2.3B AUM.
Learn more ↗All-in yield 5.44% as at 9 Oct 2026 (Betashares’ own fund page; management fee and costs 0.22%). All-in yield is the issuer’s measure of expected total yield on the portfolio — it is not a guaranteed distribution rate, and it differs from the running yields shown on other cards. Australian bank floating-rate notes — coupons reset quarterly with BBSW. AA- credit rating, 80% Big 4 + 20% other major Australian banks. 0.22% MER. Minimal duration risk.
Learn more ↗Running yield 5.07% (checked 8–9 Jul 2026 — needs refresh). Australian-dollar IG floating-rate notes. AA- average rating, 196 holdings — more diversified than QPON's 12. 0.22% MER. Coupons reset with BBSW.
Learn more ↗Highest-yielding investment-grade AUD corporate bonds. Targets the upper end of the IG universe for yield enhancement. ~5-year duration. Useful in “risk-on credit” allocation.
Learn more ↗Australian investment-grade corporate bonds, ~5-year duration. 0.25% MER. Higher yield than government bonds but with credit risk.
Learn more ↗Active ETF (Cboe-listed) targeting high-yielding Australian credit including subordinated debt. Positioned as substitute for AT1 bank hybrids being phased out by 2032. Defensive credit focus.
Learn more ↗Passive Big-4-only hybrid index ETF. Pure Big-4 hybrid exposure — but new issuance is being phased out by APRA to 2032 (structural tailwind for existing supply, structural headwind for new).
Learn more ↗$3.62B AUM — largest Australian bond ETF. Bloomberg AusBond Composite. ~7-year duration. 0.10% MER. Defensive ballast for the AU bond core.
Learn more ↗$3.45B AUM, 0.10% MER. ~7-year duration. AGS, semi-government and IG corporate. Vanguard's broad AU bond ETF — direct competitor to IAF.
Learn more ↗Pure AGS/semi-government exposure. ~7-year duration. 0.16% MER. Cleaner credit profile than the broad composites. $1.33B AUM.
Learn more ↗Pure AGS/semi-government — no corporate credit. 0.22% MER. Longer duration (~9 years) than the broad indices, so more rate-sensitive. Underperformer in 2022-2024 hike cycle.
Learn more ↗$3.9B AUM but -4.0% over 5 years — strong reminder that flows follow brand, not returns. Global IG bonds, AUD-hedged. 0.20% MER. Diversifies AU concentration but suffered from duration drag.
Learn more ↗Running yield 8.61% (checked 8–9 Jul 2026; recheck the yield definition). Highest in this list. Active managed fund (not strictly ETF). 1% MER, A-rated average. Higher activity, leverage. For investors comfortable paying for active credit selection.
Learn more ↗ESG-screened global bond ETF, AUD-hedged. 0.39% MER. For ESG-aligned bond allocation. Smaller AUM than VBND but similar global IG exposure profile.
Learn more ↗Floating-rate Tier 2 subordinated bonds issued by ANZ, CBA, NAB and Westpac — a bank-credit comparison with SUBD. Subordinated means it ranks below senior bank debt, so credit risk is higher. No yield quoted here — check the issuer factsheet for yield type, fees and duration.
Issuer page ↗Australian investment-grade corporate bonds with interest-rate (duration) risk hedged, so returns lean on credit spreads rather than rate moves. Credit risk remains. No yield quoted here — check the issuer factsheet.
Issuer page ↗A fixed-term corporate bond fund with a defined 2031 end date, an alternative to a rolling bond ETF. Check the issuer for structure, holdings, fees, yield basis and what happens at maturity. No yield quoted here.
Issuer page ↗Hold at-call deposits and NCDs — behave essentially like a HISA inside your brokerage account. Useful as portfolio dry powder. No need to wire money between brokerage and bank to rebalance. AUM/yield figures checked 8-9 July 2026 — verify current yield on the issuer page.
$5.1B AUM — largest cash ETF on the ASX. Holds at-call deposits with major Australian banks. Yields ~RBA cash rate +0.10-0.20%. 0.18% MER. The default portfolio-cash choice.
Learn more ↗iShares' competitor to AAA. Similar structure — at-call bank deposits and short NCDs. 0.07% MER — cheaper than AAA on paper.
Learn more ↗Cash-plus product — higher yield via short-term money-market and credit instruments. Slightly higher risk than pure deposits. 0.22% MER.
Learn more ↗Short-duration Australian Treasury bonds. Behaves like cash but holds AGS directly. Government credit only. 0.07% MER.
Learn more ↗Smaller cash ETF designed for advisers/SMSFs. Tracks the RBA cash rate. 0.15% MER.
Learn more ↗Knowing exactly what is and isn't protected matters more than chasing the last 0.1% of yield. The Australian Government's Financial Claims Scheme covers deposits at Australian ADIs up to $250k per person per ADI — not per account, not per branch. Five things every saver must understand.
FCS protects deposits up to $250,000 per account-holder per ADI. $300k across two CBA accounts is only $250k covered — same ADI. Spread across multiple ADIs to multiply coverage.
Learn more ↗Covered: transaction, savings and term deposits at Australian ADIs. NOT covered: investment products, hybrids, bonds, cash ETFs (which hold deposits but aren't themselves ADI deposits), foreign-bank deposits, La Trobe-style credit funds.
Learn more ↗Before opening at an unfamiliar bank, verify it's an Australian ADI via APRA's register. Many overseas-branded “banks” operating in Australia are NOT Australian ADIs.
Learn more ↗Multiple banks sit under one ADI licence. CBA owns Bankwest. NAB owns UBank. Westpac owns St.George, Bank of Melbourne and BankSA. Funds at sister brands share the same $250k limit.
Learn more ↗On a joint account, each holder gets their own $250k limit — a couple can hold $500k jointly at one ADI under FCS. Children's accounts each have their own limit too.
Learn more ↗Cash protects nominal value — it doesn't grow real wealth. The OIM Method holds cash for five reasons, not six. If your reason for holding cash isn't on this list, it's probably opportunity cost in disguise.
3-6 months expenses for stable employees; 6-12 months for FIFO/contract/self-employed. Held in a HISA, untouchable except for real emergencies. The only role of cash with no opportunity-cost test.
OIM principle →House deposit, wedding, planned big purchase. Money needed within 5 years should not be in shares — variance too wide. HISA + laddered TD is the right structure.
OIM principle →Cash to deploy into under-balanced positions when contributing new money. OIM rebalances by adding to laggards, not selling winners. Cash bridges income and the next purchase.
OIM principle →In drawdown (retirement), hold 1-3 years of expenses as cash. Protects against being forced to sell shares in a bear market. Replenished annually from dividends and selective rebalancing.
OIM principle →If a 30% drawdown would force you to do something foolish (panic-sell, lever down), you don't have enough cash. The right amount is the smallest amount that keeps you behaving rationally during a real correction.
OIM principle →Real return on cash, averaged over 50 years, is roughly 1% p.a. after tax and inflation. Equities have returned 6-7% real over the same period. A portfolio >30% cash beyond retirement-reserve leaks compound growth every year.
OIM principle →No products match your search. Try ING, Macquarie, La Trobe or SUBD.
Build your emergency fund first — then deploy everything beyond it into the Outback Investor Method (Greenblatt 35% / Graham 25% / Siegel 25% / Bazin 15%). Cash protects your nominal value, but real long-term wealth comes from quality businesses bought at fair prices and held through cycles. Members get the OIM-scored stock list, the Rebalancer and the full strategy library.
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