Best high interest savings account
I currently have money in a BOQ SmartSaver account. It's got some good features, such as 5.4% return and easy to meet conditions, five purchases with card or ATM withdrawals with a linked everyday account.
The only thing I've found is that they have a max amount I can put in is $250,000. I've got approximately 2 million to invest altogether. This limit seems really ridiculous. The whole point is to use it to save money. Adding to that, the Term Deposit rates are lower than this. What a way to put off high value clients.
So I'm looking at other options where I can put in 1.7 million at the moment, 2 million eventually. Somehow to get similar interest for that amount of money without ridiculous conditions.
There is ING Savings Booster, but you have to grow your balance by $100 every month, which can be restrictive considering I am primarily doing this to stop working, as soon as possible (due to health etc) and live off the interest I get.