Neobank 86 400 bags Mozo Experts Choice Award for best Regular Saver account

Tara McCabe

20 Feb 2020

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Just six months after launching, neobank 86 400’s Save Account has scooped up a Mozo Experts Choice Award for best Regular Saver account!

If you’re wondering whether or not that’s a big deal - it is. Going strong since 2014, the purpose of the Mozo Experts Choice Awards is to highlight Aussie banking products with market-leading features and great value.

Our experts combed through reams of banking data to figure out which ones really do hold up to the giant, glitzy billboard advertising. In 2020, we compared over 500 personal banking products, from 80 different financial institutions to determine the winners across multiple categories. 

The Mozo Experts Choice Award for best Regular Saver account in particular, recognises savings accounts with the most competitive interest rates, which have been designed for savers who plan to squirrel money away on a regular basis and are willing to meet any conditions that may be required to achieve the maximum ongoing rate.

RELATED ARTICLE: Is your bank a winner? Mozo reveals the best term deposits, savings and bank accounts for 2020

86 400’s award winning savings account

So with all that in mind and with an ongoing interest rate of 2.25% p.a., it’s no wonder 86 400’s Save Account managed to snag a win! In fact, 2.25% is one of the highest ongoing savings rates available in the Mozo database right now*, tied with fellow Mozo Expert Choice Award winners the Up Saver Account and Xinja Stash account.

Promoted

86 400 Save Account
  • 2.25% p.a. ongoing bonus interest rate! (conditions apply)

  • No account fees

  • Open multiple Save Accounts

App-based neobank 86 400’s Save Account comes with an enticingly high ongoing interest rate of 2.25% p.a., made up of a 0.40% p.a. base rate and a further 1.85% p.a. bonus rate. You can earn the extra 1.85% annual interest by depositing at least $1,000 into either your 86 400 Pay Account or Save Account at least once a month. Plus, if you have multiple savings goals and you’re a super organised sort of person, you may be intrigued to hear that you can open more than one Save Account at a time and earn bonus interest on all three!

A smart banking app for your smartphone!

It’s no secret that we use our smartphones for almost everything these days, from fitness tracking, to jotting down notes and keeping an eye on our finances. In fact, according to a survey published by multinational professional services network Deloitte, 84% of Australians owned a smartphone in 2016.

It’s pretty much a given these days that your bank account will have an accompanying app, but neobanks like 86 400 take that one step further. That’s because these app-based banks are operated 100% digitally.

Similar to other neobanks, the minds behind 86 400 have designed an aesthetically pleasing banking app with a number of useful features. 

With the 86 400 banking app you can make instant transfers with money transfer service Osko, receive smart alerts for any upcoming bills or regular payments, get insights with external data integration and make mobile payments with Apple Pay, Google Pay, Samsung Pay, Fitbit Pay or Garmin Pay.

Feeling inspired to dive into the world of neobanks? Why not head to our neobanks comparison page for more Aussie, app-based banks.

Mozo may receive advertising fees from the financial institutions, issuers of financial or credit products and third party advice providers that are shown on this page. These fees are based on a cost per click, cost per acquisition, or a fixed fee.