New Afterpay ‘Retro’ feature, cheap iPhone 13 deals & managing your money post-lockdown: This week’s best banking news
- Home resale value affected by climate change
- New ‘Retro’ feature set to launch with the Money by Afterpay app
- Where to find the cheapest iPhone 13 preorder deals
- Housing sales hit a 12-year high, says CoreLogic
- Earn bonus points on your Black Friday & Christmas shopping for 2022 travel
- How to handle your post-lockdown finances
All in this week’s best banking news recap: editor’s pick.
Home resale value affected by climate change
A recent report by the Reserve Bank of Australia estimated that 254 suburbs are currently at a high risk of dropping in value due to extreme weather resulting from climate change. This will likely affect banks physical mortgage portfolios by 2050.
“A small share of housing in regions most exposed to extreme weather could experience price falls that might subsequently result in credit losses,” says the RBA report.
Read full article: Resale value of your home at potential risk if climate change worsens to find out more.
Hot new ‘Retro’ feature set to launch with the Money by Afterpay app
This just in: Buy Now Pay Later (BNPL) giant Afterpay have just announced an exciting new feature on the way called ‘Retro’.
The way it’ll work is, Afterpay users can retrospectively opt to pay off a previously made transaction in four instalments using BNPL.
Retro is soon to launch with the new Money by Afterpay app (a payment platform backed by big bank Westpac). A one-stop shop for all your banking needs, the new app will offer BNPL options, a daily transaction account and debit card, plus up to 15 savings accounts - all within the one app.
Read the full article: Say hello to Retro! A funky BNPL feature of the soon-to-launch Money by Afterpay app to learn more about this hot new feature.
Where to find the cheapest iPhone 13 preorder deals
Apple has just announced its brand new iPhone 13 series, which officially dropped today (24th of September 2021).
This latest generation of iPhone’s features four new models: the iPhone 13, iPhone 13 mini, iPhone 13 Pro and iPhone 13 Pro Max.
If you’re keen to get your hands on any one of these new devices, then check out our article below for a rundown on where you can find the cheapest iPhone 13 preorder deals!
Read the full article: Where to find the cheapest iPhone 13 preorder deals to help get your hands on the latest iPhone.
Housing sales hit a 12-year high, says CoreLogic
According to CoreLogic, an estimated 598,000 house and unit sales went down in Australia between the start of the year and August.
Not only is this a massive 42% increase compared to the previous 12-month period, but it’s the highest annual housing turnover recorded by CoreLogic since 2004.
Diving into the numbers a little deeper, we see that each saw a 10%+ increase in year-on-year home sales, except for Tasmania, which CoreLogic suggests is due to a supply shortage as opposed to a drop in demand.
Read the full article: Housing sales have reached a 12-year high, says CoreLogic for the full scoop.
Earn bonus points on your Black Friday & Christmas shopping for 2022 travel
With lockdown soon to end (fingers crossed), Aussies will potentially be able to lock in some international travel by 2022.
This means that now’s the time to start racking up those rewards points on your rewards credit card so you can use them to your advantage when it comes time to start booking your next overseas trip. And a great way to get a head start is with bonus points!
Read the full article: How to turn your Black Friday and Christmas shopping into bonus points for 2022 travel to get the goss.
How to handle your post-lockdown finances
Speaking of lockdown - throughout the COVID-19 pandemic, we’ve seen some serious changes in how Aussies manage their money.
It’s been said that there are two types of people in lockdown: those who online shopped up a storm and those who’ve been able to save more than ever before.
With the potential ease of restrictions being hopefully just around the corner - it might be a wise idea to check in with your personal spending and saving habits, so you can prepare for life post lockdown and all the expenses that come with it.
Read the full article: How to handle your post-lockdown finances for loads of handy tips and tricks.
On the hunt for a solid savings account? Check out our savings account comparison tool below to start comparing some options:
Compare Savings Accounts today - last updated 29 March 2024
-
Savings Account
5.35% p.a. (for $0 to $250,000)
4.75% p.a.(for $0 to $1,000,000)
Yes up to $250,000
Bonus variable rate is available for the first four months.
Competitive introductory variable rate for first 4 months (on deposits up to $250,000). No account keeping fees to pay. Multiple 2023 Mozo Experts Choice Award winner.
CompareCompareSavings Account
Competitive introductory variable rate for first 4 months (on deposits up to $250,000). No account keeping fees to pay. Multiple 2023 Mozo Experts Choice Award winner.
- Maximum rate
- 5.35% p.a. (for $0 to $250,000)
- standard interest rate
- 4.75% p.a.(for $0 to $1,000,000)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
- $0.00
- Maximum rate conditions
- Bonus variable rate is available for the first four months.
- Access
- BPay, Branch access, Phone banking, Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Must have a Macquarie Transaction Account to link with.
Read our Mozo Review to learn more about the Savings Account
-
Mozo experts choice awards won:
- Kick Start Savings - 2024
High Interest Savings Account
5.75% p.a. (for $0 to $250,001)
4.40% p.a.(for $0 to $250,001)
Yes up to $250,000
Bonus rate for the first 4 months from account opening
Reward yourself with a higher rate for your good savings habits with the Rabobank High Interest Savings Account . Receive the maximum rate when you grow your balance by at least $200 each month. No Account keeping fees. No minimum balance.
CompareCompareHigh Interest Savings Account
Reward yourself with a higher rate for your good savings habits with the Rabobank High Interest Savings Account . Receive the maximum rate when you grow your balance by at least $200 each month. No Account keeping fees. No minimum balance.
- Maximum rate
- 5.75% p.a. (for $0 to $250,001)
- standard interest rate
- 4.40% p.a.(for $0 to $250,001)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
- $0.00
- Maximum rate conditions
- Bonus rate for the first 4 months from account opening, reverting to standard variable rate. Rate shown is for Personal customers and is subject to change. Different rates apply to Business/SMSF customers.
- Access
- Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Must link to a transaction account
Read our Mozo Review to learn more about the High Interest Savings Account
-
Reward Saver Account
5.25% p.a. (for $0 to $1,000,000)
0% p.a.(for $0 and over)
Yes up to $250,000
Intro bonus rate of 5.25% for balances up to $1,000,000 for the first 4 months, reverting to 3.25%. Minimum deposit of $50 and no withdrawals.
Introductory bonus rate for balances up to $1,000,000 for the first 4 months. Minimum deposit of $50 and no withdrawals. Start your account online in under 10 minutes and earn interest on balances up to $1,000,000 (T&Cs apply). No monthly account fees, helping you save smarter and faster.
CompareCompareReward Saver Account
Introductory bonus rate for balances up to $1,000,000 for the first 4 months. Minimum deposit of $50 and no withdrawals. Start your account online in under 10 minutes and earn interest on balances up to $1,000,000 (T&Cs apply). No monthly account fees, helping you save smarter and faster.
- Maximum rate
- 5.25% p.a. (for $0 to $1,000,000)
- standard interest rate
- 0% p.a.(for $0 and over)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
- $0.00
- Maximum rate conditions
- Intro bonus rate of 5.25% for balances up to $1,000,000 for the first 4 months, reverting to 3.25%. Minimum deposit of $50 and no withdrawals.
- Access
- ATM, EFTPOS, Visa Debit, Cheque book, BPay, Branch access, Phone banking, Internet banking, Bank@Post
- Minimum balance
- $0.00
- Other restrictions
- -
Read our Mozo Review to learn more about the Reward Saver Account
-
Reward Saver
5.25% p.a. (for $0 to $100,000)
0.30% p.a.(for $0 and over)
Yes up to $250,000
Earn a high interest bonus rate if you hold an eligible transaction account and meet the bonus rate conditions (T&Cs apply). Only requires $1 to open. Free e-banking transactions. No monthly service fees to pay. Access your account via e-banking or the Bendigo Bank app. Not applicable to business customers.
CompareCompareReward Saver
Earn a high interest bonus rate if you hold an eligible transaction account and meet the bonus rate conditions (T&Cs apply). Only requires $1 to open. Free e-banking transactions. No monthly service fees to pay. Access your account via e-banking or the Bendigo Bank app. Not applicable to business customers.
- Maximum rate
- 5.25% p.a. (for $0 to $100,000)
- standard interest rate
- 0.30% p.a.(for $0 and over)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
- $0.00
- Maximum rate conditions
- Grow your balance each month and must have linked Bendigo Everyday or Student Account to be eligible.
- Access
- BPay, Phone banking, Internet banking
- Minimum balance
- $0.00
- Other restrictions
- -
Read our Mozo Review to learn more about the Reward Saver
-
Mozo experts choice awards won:
- High Interest Savings - 2024
AMP Saver Account
5.40% p.a. (for $0 to $250,000)
1.20% p.a.(for $0 to $5,000,000)
Yes up to $250,000
Enjoy a bonus rate when you deposit at least $1000 per month with the AMP Saver Account.
No account fees. Unlimited transactions when linked to an AMP Bank transaction account. Easy online access to your money. Option to link your savings account to an everyday transaction account. 2024 Mozo Experts Choice Award winner.
CompareCompareAMP Saver Account
No account fees. Unlimited transactions when linked to an AMP Bank transaction account. Easy online access to your money. Option to link your savings account to an everyday transaction account. 2024 Mozo Experts Choice Award winner.
- Maximum rate
- 5.40% p.a. (for $0 to $250,000)
- standard interest rate
- 1.20% p.a.(for $0 to $5,000,000)
- Govt Deposit Guarantee
- Yes up to $250,000
- account fee per month
- $0.00
- Maximum rate conditions
- Ongoing total variable bonus rate of up to 5.40% per annum applies if customers deposit $1,000 in the previous month. Available only on balances up to $250,000.
- Access
- Phone banking, Internet banking
- Minimum balance
- $0.00
- Other restrictions
- Ongoing total variable bonus rate up to 5.40% p.a. is earned on the balance the month after you deposit $1,000 and is paid the following month, on balances up to $250k. Max balance per customer name is $5 million.
Read our Mozo Review to learn more about the AMP Saver Account
Your selected interest rates
Your selected interest rates
Your selected interest rates
Your selected interest rates
Your selected interest rates
^See information about the Mozo Experts Choice Savings Account Awards
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.