Volt Bank are offering a 2.15% p.a. (Variable rate) savings account. There are no monthly minimum deposits or card purchases that need to be made to be eligible for the rate. Savings are backed by the Australian Government Financial Claims Scheme and you can have up to $245k in the account. The product is yet to launch but you can join their waiting list and they will go live early next year.
The catch is that it's not launched yet.
Useless rate ad. It could go down to 0.5% on launch.
According to money guy on the radio it’s an intro offer they will be launching with. Like low interest rate plus bonus interest for x months. (They apparently still working out details)
The guy on the radio gave the link to pre register also.
What guy on the radio? The website literally says the opposite to what you've said. No hoops no hurdles no bonus then changing etc.
Not sure of his name.
Money program on Macquarie radio.
They had someone from the bank on.
The website says:
PIQUE YOUR INTEREST
Our interest rate is 2.15% (variable) - what we're more excited about is that you'll actually get that interest.
There are no hoops, hurdles, tricks or conditions designed to stop you getting that rate.
It is what it is. 2.15% on every dollar up to $245,000.
NO TRICKS
We've all seen them, the introductory rates that slip to next to nothing once you're in, paying less attention - or the one where you have to put loads of money in every month - and all the rest, there's too many to list.
There's none of that with Volt. That's the rate. That's what you get.
who wants to put money in a bank that has yet to make any money?
If the government gaurantees it, who cares?
86400 App only banking. offer 2.25%, deposit $1000/month.
Latrobe currently have 5.05% for 12 months, over 6% for 4 years.
Seems no monthly deposits required.
Latrobe is not a bank or authorised deposit-taking institution.
Therefore it is excluded from Australian Government Financial Claims Scheme.
Learn from the past - Fighting the big freeze
Those are essentially mortgage backed securities, and we all know how they tend to perform in overheated property markets…
Waiting list? No sorry. I shouldn't be waiting for this privilege.
Xinja bank are offering 2.25% p.a. with their stash account now with no minimum deposits or card purchases. https://xinja.com.au/products/
https://www.savings.com.au/savings-accounts/neobank-xinja-la…
Seems like a good deal for a set-and-forget account, providing that they don't lower the rate after launch.