Consumers lose one billion in interest

Consumers who shop around and switch to the savings accounts with the highest interest rate could have earned an average rate of 6.44 per cent over the last 6 months. Consumers have short changed themselves out of one billion dollars by not switching their money to the best performing accounts according to a study by Infochoice. There is a 2.2 per cent gap between the best and the lowest rate offered by a big four bank.

Source: Herald Sun