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You can beat low interest rates with these ASX dividend shares

At present the Commonwealth Bank of Australia (ASX: CBA) Netbank Saver account offers savers a variable introductory rate of 2.55% per annum for the first five months. After which, the rate drops down to just 0.50%, which is broadly in line with the interest rates on offer with savings accounts from the rest of the big four.

Yesterday the Australian Bureau of Statistics revealed that Australian inflation rose 0.5% over the December quarter for an annual increase of 1.8%.

Which means that if you have money in a savings account earning just 0.5% interest per annum, your savings are being eroded by inflation to the tune of 1.3% per annum.

In light of this, I think savers ought to consider putting these funds into one of the many quality dividend shares on offer on the ASX.

Three to consider right now are listed below:

Dicker Data Ltd (ASX: DDR)

This leading computer hardware and software distributor released its unaudited full year results on Tuesday which revealed that it has had another strong year and expects to report a 15% increase in profit before tax. I expect another solid year in FY 2019, putting the company in a position to grow its dividend once again. At present Dicker Data’s shares offer a fully franked 6% yield.

National Australia Bank Ltd (ASX: NAB)

Rather than have your money in a bank’s savings account, I would have it invested in their shares. One of my favourite options in the sector right now is NAB due to its exposure to a business lending market which is performing strongly. I believe this has put it in a position to maintain its $1.98 per share dividend in FY 2019, which would mean a fully franked 8.1% yield. However, I would suggest investors wait for the Royal Commission final report release on Monday before making an investment.

Super Retail Group Ltd (ASX: SUL)

Super Retail is the retail group behind popular store brands such as Super Cheap Auto, Rebel, and Macpac. Its shares have come under pressure in recent months due to the impending exit of its popular CEO. However, with a replacement lined up from within, the market appears to believe that it will be business as usual in FY 2019. I expect this to be the case and see a lot of value in its shares since the pullback. Especially as they offer a trailing fully franked 6.7% dividend.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Dicker Data Limited. The Motley Fool Australia owns shares of National Australia Bank Limited and Super Retail Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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