Neobank offers multiple accounts for savers

Neobank 86 400 has launched three new savings accounts, each earning a maximum interest rate of 2.25 per cent for balances up to a combined $300,000.

In its latest product release since launching to the public last year, the fintech has launched multiple “Save” accounts, allowing customers to have up to three separate savings accounts.

The lender said the new functionality of accessing multiple Save accounts would enable customers to better control their money and structure their savings.

In order to receive the full bonus rate (2.25 per cent per annum), 86 400 customers must deposit at least $1,000 per month into either a linked Pay transaction account or a Save savings account.

Provided they meet this criteria, customers will reportedly receive the top interest rate for each account up to a maximum balance of $100,000 per account, achieving the top rate on a total balance of up to $300,000 across three savings accounts.

Additionally, 86 400 customers would pay no fees on their transaction or savings accounts and will not lose their bonus interest should they take money out of their savings account, the neobank said.

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Source: Neobank offers multiple accounts for savers – Mortgage Business