This week in banking news - savings, green home loans, Xinja and Insta-worthy travel spots

  • Find out what your 2020 financial horoscope has in store for you.
  • Top travel spots for the ‘Gram.
  • Which travel agency just collapsed leaving Aussies stranded?
  • How to get on top of debt this year.
  • Bank Australia’s new Clean Energy Home Loan.
  • How to stop your savings rate dropping ahead of more RBA cuts.
  • Find out which neobank just launched a new savings account.

All in this week’s banking recap.

Mozo’s Money Horoscope predicts the year ahead

Ever wanted to read a horoscope prediction, but based purely on your future finances? Yeah we thought so, that’s why we took the time to gaze into Mozo’s crystal ball and see what 2020 has in store for each star sign.

The results? Well Geminis you might need to create a solid budget this year, while Leos your future finances could be in fintech

Interest piqued? You can read the full article Mozo Money Horoscope: Your 2020 vision to find out more about your star sign’s financial future.

Top Insta-worthy travel spots for 2020

Because we know you’re all on it and trying to create that perfect pic with #nofilter. The top Instagrammable spots for 2020 include the beautiful Santorini in Greece and sunny California in the USA.

So if you’re looking for holiday destinations inspiration, why not read the full article: Top 5 most Insta-worthy travel spots of 2020, for some tips on the top spots, which currency you need and whether or not it might be a good idea to pack a prepaid travel card.

Travel agency collapses leaving Aussies stranded 

Speaking of travel, travel agency Excite Holidays collapsed last week, leaving thousands of Aussies stranded and out of pocket.

Tourists enjoying holidays in Tokyo, New Zealand and Thailand, to name a few, found that their bookings had either been cancelled altogether or made invalid when the travel agency went into voluntary administration last Friday.

Read the full article: Travel agency, Excite Holidays collapses leaving thousands of Aussies stranded and out of pocket, to find out more about this story and learn about what your travel insurance might not cover you for.

How to ditch your debt in 2020

The beginning of a new year is often a time for reflection and, if that reflection for you includes how much you racked up in personal loan or credit card debt in 2019, then you may want to read on.

As the money saving experts, we’ve come up with six tricks to getting on top of your debt this year. So if you want to learn why budgets are so important or how money management apps could make your life easier in 2020, why not read the full article: New me, debt free: how to ditch your debt in 2020.

Bank Australia launches new Clean Energy Home Loan

As the old saying goes “start as you mean to go on.” And that is exactly what Bank Australia seems to be doing, by kicking off the new year with the launch of its Clean Energy Home Loan.

This new home loan offers Aussies looking to build a home, rated a minimum of 7 stars under the Nationwide House Energy Rating Scheme (NatHERS), a sweet 0.40% discount on their home loan.

So if you’re looking to buy or build an energy efficient home this year, then why not read the full article: Bank Australia teams up with CEFC to launch new clean energy home loan, to find out more.

How to stop your savings’ interest rate dropping ahead of future RBA cuts

It’s no secret that last year wasn’t the best for savers. A fact which is only proven by the pretty dismal 0.98% average ongoing savings account interest rate in the Mozo database at this current time*. And as if that wasn’t enough, our experts predict we’ll see two more RBA cuts before the year is through.

But with the bad news comes good news, because 10 providers listed in our database still have interest rates on offer at 2.00% or above. It’s early days yet, but neobanks in particular are shaping up to offer some of the best savings interest rates for 2020.

Read the full article: How to stop your savings rate from dropping along with the RBA in 2020, to find out more about which banks are offering better rates, how much you could earn in interest by switching and some quicks tips and traps of savings accounts to keep in mind.

Neobank Xinja launches new savings account Stash!

And just to illustrate that point, Aussie neobank Xinja just launched its highly anticipated savings account Stash this week.

Xinja’s Stash account comes with an interest rate of 2.25% for balances up to $245,000. But that’s not even the best part, because there is no minimum deposit or withdrawal conditions to meet to achieve that top interest rate.

Not only is the Stash account’s interest rate more than double the average interest rate in the Mozo database right now, it also has the highest base rate out of all savings accounts in our database at the moment.

Read the full article: Savings competition heats up as neobank Xinja releases 2.25% no strings savings account, Stash to find out more about the launch of this exciting new savings account.

Or if you want to find out more about the neobank, why not check out our Q&A with Xinja to find out everything from what sets Xinja apart from other neobanks to what measures Xinja takes to keep customers’ accounts secure.

Feeling inspired to get a better interest rate on your savings? Why not head to our savings accounts comparison page to see what other rates are out there. Or have a scroll of the savings accounts below, for a quick peek at some of the savings accounts Mozo compares.

Compare high interest savings accounts

Mozo may receive payment if you click the products below. We don’t compare the entire market, but you can search our database of 274 savings accounts.
Last updated 24 July 2024 Important disclosures
  • 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 4 months.

    Competitive introductory variable rate for first 4 months (on deposits up to $250,000). No account keeping fees to pay. Multiple 2024 Mozo Experts Choice Award winner.

  • 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.

  • Bonus Saver Account

    5.00% p.a. (for $0 to $250,000)

    0.05% p.a.(for $0 and over)

    Yes up to $250,000

    Bonus rate when at least $20 is deposited each month and five Visa Debit transactions are made each month using linked Glide transaction account.

    Start saving and earn interest with just a $20 deposit and make 5 eligible transactions each month. No fees or penalties for withdrawing money.

  • Savings+Bonus

    5.00% p.a. (for $0 to $250,000)

    2.00% p.a.(for $0 to $250,000)

    Yes up to $250,000

    Minimum $100 monthly deposit and no withdrawals to earn bonus interest each month.

    Earn a generous interest rate on your at-call savings (T&Cs apply). Interest is calculated daily and paid to you monthly. A $5 monthly membership fee will not apply if your total account balances with First Option Bank exceed $1,000 or you have a credit card or loan with the bank.

  • Mozo Expert Choice Badge
    Savings Maximiser

    5.50% p.a. (for $0 to $100,000)

    0.55% p.a.(for $0 and over)

    Yes up to $250,000

    For customers who have an Orange Everyday account, deposit $1000 into a personal ING account, make 5 eligible transactions and grow their nominated Savings Maximiser account each month.

    Great variable rate every month when you grow your balance each month in addition to other eligibility criteria. No ING fees to pay. Save even more with ING Everyday Round Up. Mozo Experts Choice Awards Everyday & Savings Bank of the Year winner for 2024.^


*Data correct as of 2 January, 2020.

^See information about the Mozo Experts Choice Savings Account Awards

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