Macquarie Cash Management Account
The current interest rate payable on the Macquarie CMA Account is 1.9% per annum calculated daily and paid monthly. This rate may change and there may be delays in updating this rate above, so please check this rate before selecting this account.
Further Information- SMSF Philosophy
It is important to understand that most bank account products that have low fees and transaction costs, will have lower interest rates than more traditional savings accounts. For SMSF’s the idea is to use your bank account as a transactional hub which can facilitate investment transactions in other investments at low fees. For example, you can transfer money from your transactional account to a term deposit which pays a higher rate of interest or invest in other assets like shares or managed funds. The advantage of using transactional accounts this way is to make sure that your money is invested in assets that pay a rate of return in line with your investment strategy (maximising returns whilst matching your risk profile) and a transactional account that has low fees and charges but provides good online services.