During that period of falling rates between 2011 and 2022, the interest rates on many savings accounts barely covered the Reserve Bank of Australia's targeted annual inflation band of 2% to 3%.
In short, it made cash a pretty useless investment vehicle for a while.
Now, times have changed.
RateCity recently announced it has nine savings accounts on its panel paying interest rates of 5.5% or more.
This is especially interesting given inflation in Australia has been falling and is currently tracking at 5.2%.
Even if cash investment yields are now above inflation, there are no prospects for capital growth. And the yield you'll receive each year will barely maintain your spending power at the level it's at today.
The best ASX 200 dividend shares offer high and growing yields, and potential for a bit of capital growth.
The most reliable ASX 200 dividend shares are typically large-cap stocks. This is because they represent well-established businesses that can deliver strong revenue in any sort of economic backdrop.
The large-cap shares of the ASX 200 have a minimum market capitalisation of $10 billion.
ASX 200 dividend shares offering better yields than 5.5%
Here are seven ASX 200 large-cap shares with trailing dividend yields that are significantly higher than the 5.5% you can currently get investing cash in the bank.
Bear in mind that trailing dividend yields are based on the dividend amounts paid in the previous year.
Dividend amounts are determined by profits. Some companies' earnings fluctuate significantly from year to year based on moving variables like commodity prices.
|ASX 200 DIVIDEND SHARE||DIVIDEND YIELD||PAID PER SHARE|
|Woodside Energy Group Ltd (ASX: WDS)||9.4%||339.74 cents|
|Fortescue Metals Group Ltd (ASX: FMG)||8.1%||175 cents|
|APA Group (ASX: APA)||6.7%||55 cents|
|Westpac Banking Corp (ASX: WBC)||6.2%||134 cents|
|ANZ Group Holdings Ltd (ASX: ANZ)||6%||155 cents|
|Pilbara Minerals Ltd (ASX: PLS)||6.1%||25 cents|
|BHP Group Ltd (ASX: BHP)||5.7%||261.43 cents|