7 of the top SMSF savings accounts on the market today

Kelly Emmerton

Thursday 04 April 2019

If you’ve taken control of your own super with a Self-Managed Super Fund, part of your strategy may be finding a top value savings account to stash your retirement dollars in, with zero fees, easy access and a killer interest rate. But that’s sometimes easier said than done.

7 of the top SMSF savings accounts on the market today

Here at Mozo we’re taking the stress out of finding the perfect SMSF savings account. We’ve recently announced our 2017 Experts Choice Deposit Awards, which found and crowned the top savings account and term deposit options for Aussies managing their own super. Check out some of the top winners below:

1. AMP- SuperEdge Saver Account

Won for: No Strings

Interest rate: 2.05% p.a.

Who is it good for: AMP came out on top in the Mozo Experts Choice Awards as SMSF Bank of the Year and it’s no surprise, its SuperEdge Saver Account gives your self managed superannuation fund a solid boost with its competitive interest rate. And you can access your money anytime, with easy online transfers from your saver account to your cash account.

2. RaboDirect- DIY Super High-Interest Savings Account

Won for: SMSF Kick Start Savings

Interest rate: 2.70% p.a. variable interest rate (4 month introductory variable rate on the first $250,000)

Who is it good for: If you’re serious about managing your own superfund, then the DIY Super High Interest Savings Account could be for you. You can earn interest at 1.90% p.a. to keep your savings stash growing, plus the introductory rate of 2.70% p.a. could be the kickstart you need to hit your super saving goals faster.

3. Aus Military Bank- DIY Super Saver Account

Won for: SMSF No Strings Savings

Interest rate: 2.20% p.a. variable interest rate

Who is it good for: This one’s designed for people who want greater control over how they invest their superannuation funds. Pretty much everything is in your hands, there’s no minimum deposit required to open your Aus Military Bank DIY Super Saver and you can easily do so online, in branch or over the phone. You also have the freedom to choose whether you want to leave your funds in the account to earn a high interest rate, or move money between your choice of investments.

4. Heritage- Secure Super Account

Won for: SMSF No Strings Savings

Interest rate: 2.00% p.a.

Who is it good for: Worried about what the rise and fall of rates could mean for your savings? Then the security of the Heritage Secure Super Account could be the thing you need. This account is capital guaranteed which means contributions, rollover amounts and the interest credited to your account can’t go down in value.

5. BankVic- SMSF Saver

Won for: SMSF No Strings Savings

Interest rate: 2.35% p.a.

Who is it good for: Sometimes it is possible for you to get the best of both worlds. With the BankVic SMSF Saver account you can not only grow your super with great interest rates, but you can also do so whilst enjoying the flexibility of access to your funds, with unlimited transactions via the branch, over the phone, or online.

Term deposits

6. ME- Business Term Deposit

Won for: SMSF Term Deposit

Interest rate: 2.75% p.a for a 12 month term

Who is it good for: The ME Business Term Deposit is a great option if you’re looking to give your self-managed super fund a boost. The online account has no set-up fees or account-keeping fees, just solid interest rates on terms from 1 month up to 5 years.

7. AMP- Term Deposit

Won for: Term Deposit

Interest rate: 2.75% p.a. for 6 month term

Who is it good for: The AMP Term Deposit is great for savers looking to grow balances over $5,000 or $25,000, with interest rate certainty. It has a variety of terms to suit your savings needs, starting from as short as 1 month and all the way up to five years.

Check out the rest of the winners here, or head over and take our savings account comparison tool for a whirl to search the rest of the market.

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