Why the big banks aren’t passing on interest rate rises to saving customers

Tom Elliott says it doesn’t seem right the big banks aren’t passing on interest rate rises to saving customers at the same rate as they’re rising them for those with a mortgage.

The Reserve Bank raised the cash rate by another 50 basis points to 1.85 per cent on Tuesday.

Banking and finance guru Sarah Wells says there a couple of reasons why.

Press PLAY below to find out what they are

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