Police Bank now offers a savings account with a ‘5’
Police Bank has announced that its U30 Super Charge savings account will have a 5.00% p.a. interest rate.
Now it is one of four savings accounts that start with a ‘5’ in Mozo’s database.
U30 Super Charge rate increase is designed to help younger Aussies save amid the rising cost of living crisis and give them a way to save for big ticket items like a house or a car.
“As a member owned bank, we are all about supporting our community and helping people get ahead in life. We know that savings can be hard for members in their 20s while they are studying or just getting started in their career,” said Police Bank chief executive officer, Greg McKenna.
“We also understand the crucial need for members to start saving as early as possible to benefit from compound interest and set themselves up for financial success later in life. The U30 Super Charge account makes it easy to see high returns and is one of the most accessible savings accounts on the market. It takes the hassle out of saving so young people save faster and make their money work harder for them.”
Unlike some other high interest savings accounts U30 Super Charge doesn’t have any ongoing fees or minimum monthly transaction requirements for anyone between the ages of 18-29.
Check out Mozo's savings guides and tips if you're looking for ways to save more money. Alternatively, start comparing savings accounts below.
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