Those poor, poor banks

RBA cash rate, 7%

So the banks are crying poor, claiming there's not enough liquidity in the market. You'd think this would mean their savings interest rates would be hovering somewhere around the RBA Cash Rate so they could encourage some deposits.

My bank's "high interest" savings account is currently paying its loyal customers a "huge" (their word) 6.75%. But new customers get 8.1%. Nice way to treat your existing customers!

If getting bought by one of the big four banks wasn't enough incentive to find another bank, this treatment of long-term customers is!