Thumbnail icon for 86 400

86 400 Save Account

Interest rate
0.25% p.a.(for $0 and over)
Maximum rate
1.85% p.a. (for $0 to $100,000)

Mozo editorial review 86 400 Save Account

Last updated: 14 April 2020.

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What's hot
  • 2020 Mozo Experts Choice Award winner
  • No fees
  • Excellent 1.85% p.a. maximum rate
  • Open up to three Save Accounts
What's not
  • Only accessible through iOS or Android app
Mozo snapshot

86 400’s Save Account is smart and simple, and offers some of the most impressive savings rates currently on the market. The standard rate sits at 0.25%, but if you deposit at least $1,000 in a month, you’ll be treated to an extra 1.60% p.a., which brings the maximum rate to 1.85% p.a.

Sound like a winner? Well you'd be right, because the Save Account picked up a 2020 Mozo Experts Choice Award in the best Regular Saver category. 

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Key features

The Save Account’s standard interest rate of 0.25% p.a. isn’t anything to get particularly excited about, but the maximum rate will definitely turn heads. You’ll be able to score an impressive 1.85% p.a. on balances up to $300,000 so long as you make a monthly deposit of at least $1,000 to either your Pay transaction account or Save Account. That rate puts the Save Account among the top earning savings accounts in our database. What's more, there are no fees, and you’ll be able to withdraw any amount of money without it affecting the maximum rate. 

86 400 also lets its users create up to three different Save Accounts, so you could have one for your emergency fund, your next overseas holiday and for your house deposit. Best of all, if you meet the requirements above, you'll receive the 1.85% ongoing bonus rate of all of your Save Accounts.

And for anyone who’s new to the world of neobanks and is in need of a little bit of reassurance before they sign up, 86 400 is licenced by APRA as an Authorised Deposit-taking Institution. As an ADI, deposits of up to $250,000 are covered in the off chance a bank goes under, so you can rest easy knowing your money is safe.

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Who is it good for

You’ll only be able to manage your Save Account through the iOS or Android app, so you’ll need to be comfortable doing your banking solely on your smartphone.

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Any catches

86 400 is an online-only bank, which means everything is done on your phone (and there aren’t any branches where you can speak with staff face-to face). And as mentioned above, if you want to score that maximum rate, you’ll need to deposit at least $1,000 per month.

Details

Rates and fees information correct as at 14 July 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Balances from $0: 0.25% p.a.

  • Balances from $0: 1.85% p.a.
    Balances from $100,000: 0.25% p.a.

  • Deposit at least $1,000 to either Pay or Save account from an external source each month.

Fees
  • $0.00

  • n/a

  • Unlimited free transactions from mobile app.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • $0.00

  • n/a

Other financial bits
  • $0.00

  • $0.00

  • Monthly

Features
  • no

  • none

  • no

  • no

  • no

  • no

  • no

  • no

  • yes

  • no

  • no

  • Bank and saving account only accessible through iOS or Android app.

  • Bonus rate applies across three accounts on balances of up to $100,000 on each account.

  • none

Customer Reviews

How are 86 400 savings accounts rated by the Mozo community?

Overall customer rating
9.3/10
Price
9.8/10
Features
9.0/10
Customer service
8.0/10
Convenience
8.7/10
Trust
8.8/10

Latest reviews of 86 400 Save Account

  • Overall 10/10
    Love it.

    Love 86 400.

    Read full review

    Love 86 400.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Sophie, New South Wales reviewed 27 days ago
  • Overall 10/10
    Best interest rate around.

    Pretty much the last hold out for a competitive interest rate.

    Read full review

    Pretty much the last hold out for a competitive interest rate.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Aaron, South Australia reviewed 27 days ago
  • Overall 7/10
    Great interest rate without the hassle.

    Has Osko pay and one of the best interest rates going which is easily obtainable with a $1000/month deposit.

    Read full review

    Has Osko pay and one of the best interest rates going which is easily obtainable with a $1000/month deposit.

    Price
    9/10
    Features
    6/10
    Customer service
    4/10
    Convenience
    6/10
    Trust
    7/10
    Less
    Luke, New South Wales reviewed about 1 month ago

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2.05% p.a. (for $0 to $500,000)

0.35% p.a.(for $0 and over)

Yesup to $250,000

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Bankwest

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0.01% p.a.(for $0 to $5,000,000)

Yesup to $250,000

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Bank of Queensland

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0.20% p.a.(for $1 and over)

Yesup to $250,000

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0.01% p.a.(for $0 to $5,000,000)

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HSBC

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2.10% p.a. (for $0 to $1,000,000)

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Bankwest

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Hero Saver

0.01% p.a.(for $0 to $5,000,000)

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Fast Track Saver Account

0.20% p.a.(for $1 and over)

1.85% p.a. (for $1 to $250,000)

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

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0.01% p.a.(for $0 and over)

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0.10% p.a.(for $0 and over)

1.65% p.a. (for $0 and over)

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0.10% p.a.(for $0 and over)

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