Australia’s best SMSF savings accounts: rated and revealed
Article by Kelly Emmerton
For those who prefer to take a hands-on approach to super, this year’s Mozo Experts Choice SMSF Awards has revealed that online lenders are the way to go.
Mozo’s Savings Bank of The Year, online only provider ME, was among the winners in the best value base rate category with its Business Online Savings Account. Alongside it were the Online Savings Account from Arab Bank Australia and DIY Super High Interest Savings Account from RaboDirect.
The latter also took out an award for the best value introductory rate, while CUA took out a best ongoing bonus rates award with its eSaver Reward account.
To be eligible for an Experts Choice Award, the SMSF accounts had to have no monthly service fee, unlimited free internet transactions, no notice period for withdrawals and offer the option to link to accounts at any other banking institution.
You can check out the full list of winners in our Experts Choice SMSF Awards page here.
If you’d prefer to lock your super away for a set term, Mozo’s experts also crunched the numbers on the best SMSF term deposits. Like the Experts Choice best personal savings accounts, SMSF term deposits showed an overwhelming trend toward smaller online providers.
ME once again performed well, with its Business Term Deposit winning awards across all three categories, for short, medium and long term deposits. Other winners included:
Best value SMSF term deposit - short term (7 months or less)
Best value SMSF term deposit - medium term (8-13 months)
Big Sky SMSF Term Deposit
Best value SMSF term deposit - long term (2-5 years)
For the full list of winners, check out our Experts Choice SMSF Deposits Awards Page.