Savers finally seeing interest rates boost

Savers are back to being wooed by the banks after years of lousy returns, experts say. (Steven Saphore/AAP PHOTOS) (AAP)

Savers are finally getting decent interest rates as the banks look to cover the rising cost of funding mortgages.

When the Reserve Bank of Australia first started hiking interest rates in May, banks were typically quick to pass on higher interest rates to mortgage holders but more reluctant to do the same for savers.