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 0.10%, but if you deposit at least $200 in a month, you’ll be treated to an extra 1.10% p.a., which brings the maximum rate to 1.20% p.a.
Sound like a winner? Well you'd be right, because in 2021 the Save Account picked up a Mozo Experts Choice Award in the best Regular Saver category for the second year running.
The Save Account’s standard interest rate of 0.10% 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 1.20% p.a. on balances up to $50,000, so long as you make a monthly deposit of at least $200 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 1.20% 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.
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.
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 $200 per month.
| Balances from $0: 0.10% p.a. | |
| Balances from $0: 1.20% p.a. | |
| Deposit at least $200 to either Pay or Save account from an external source each month. |
| $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 |
| $0.00 | |
| $0.00 | |
| Monthly |
| 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 $50,000 on each account. | |
| none |
86 400 is a fully digital bank, meaning they don't have any branches, or any of their own ATMs. However, regardless of this, they are a bank that is competitive with the 4 major banks, and in some cases, offers features, or fees, that are better than the 4 majors. They also listen to customer feedback, and have been improving their smartphone app, adding in features like scheduled payments, and allowing you to view account balances from other banks.
Read full review86 400 is a fully digital bank, meaning they don't have any branches, or any of their own ATMs. However, regardless of this, they are a bank that is competitive with the 4 major banks, and in some cases, offers features, or fees, that are better than the 4 majors. They also listen to customer feedback, and have been improving their smartphone app, adding in features like scheduled payments, and allowing you to view account balances from other banks.
Love 86 400.
Read full reviewPretty much the last hold out for a competitive interest rate.
Read full reviewPretty much the last hold out for a competitive interest rate.
Has Osko pay and one of the best interest rates going which is easily obtainable with a $1000/month deposit.
Read full reviewHas Osko pay and one of the best interest rates going which is easily obtainable with a $1000/month deposit.
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1.35% p.a. (for $0 to $250,001)
0.25% p.a.(for $0 to $250,001)
Yes up to $250,000
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1.05% p.a. (for $1 to $250,000)
0.05% p.a.(for $1 and over)
Yes up to $250,000
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0.65% p.a. (for $0 and over)
0.10% p.a.(for $0 and over)
Yes up to $250,000
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1.10% p.a. (for $0 to $250,000)
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1.05% p.a. (for $1 to $250,000)
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0.35% p.a. (for $0 and over)
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