RaboDirect revealed as Australia’s SMSF Savings Bank of the Year

Wednesday 28 February 2018

Article by Ben Tosi

Haven’t you heard? Mozo have today announced the winners of its Experts Choice Awards for savings accounts and term deposits and after running the rule over 510 products in the Mozo database, have revealed RaboDirect as the SMSF Savings Bank of the Year.

RaboDirect logo and banner.

For the Aussies out there that prefer to take a hands-on approach to their superannuation, we compared the SMSF products on offer from 78 providers at the turn of the year, awarding just the top 10% of products in each category a coveted Mozo Experts Choice Award.

RaboDirect won individual awards across both term deposit and savings accounts categories to take out the top gong for the second straight year, but it wasn’t the only winner.

A range of providers - both big and small - picked up awards in the following four categories and you can check out how they qualified for each class and who they were, below.

SMSF Regular Saver

This category looked at SMSF savings accounts for people who plan to slowly but steadily stash their cash away and were able to meet monthly deposit conditions to qualify for ongoing bonus rates. To keep things realistic we deemed regular deposits of no more than $250 to be reasonable and this meant the following four products picked up a Mozo Experts Choice Award.

  • Australian Military Bank - DIY Super Saver Account
  • CUA - eSaver Boost
  • Qudos Bank - DIY Super Saver
  • Westpac - DIY Super (Major Bank Award)

SMSF No Strings Savings

If you’re a little less regular with your superannuation contributions but still want a great value rate of return without having to fulfill any conditions, these are the top-performing SMSF savings accounts (in our database) to consider.

  • AMP - SuperEdge Saver Account
  • Australian Military Bank - DIY Super Saver Account
  • BankVic - SMSF Saver
  • Heritage Bank - Secure Super Account
  • Westpac - DIY Super (Major Bank Award)

SMSF Kickstart Savings

If you’re looking to give your superannuation a boost over the short term, this SMSF Savings Account is your best bet.

  • RaboDirect - DIY Super High Interest Savings Account

Keep in mind that to qualify for an award, all of the savings accounts listed above had to be available for SMSF customers.

SMSF Term Deposits

In the final category for the SMSF stream of Mozo Experts Choice Deposit Account Awards, we looked at the most competitive interest rates on offer across a broad range of SMSF Term Deposits. Here are the best value options in our database.

  • Greater Bank - Term Deposit
  • ME - Business Term Deposit
  • RaboDirect - Term Deposit
  • Westpac - Term Deposit

To check out a full list of winners, including the non-SMSF savings accounts and term deposits that picked up a piece of Mozo-branded silverware, head to our Experts Choice Awards hub.

Compare today's top savings accounts

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