Australian Neobank Volt to Further Slash Interest Rates on its Savings Account, Other Digital Banking Challengers Also Making Cuts

October 17, 2020 @ 6:26 pm By Omar Faridi |

Australian neobank Volt has confirmed that it’s planning to reduce the total interest rate on its Save account. The bank will slash the current rate by 20 basis points, so it will be lowered from the current 1.45% p.a. to 1.25% p.a. This new rate… Read More

Neobanks in Australia including 86 400, Xinja, Volt Forced to Further Reduce Interest Rates on Savings Accounts

October 12, 2020 @ 10:13 pm By Omar Faridi |

Neobanks have been finding it quite challenging to maintain their competitive deposit rates. During the past few weeks, three Australian neobanks have reduced their rates and two of them have placed limits on the balances on which they’ll pay higher interest. Australia based digital bank… Read More

Major Australian Digital Banks 86 400, Volt Bank, Up Slash Savings Account Interest Rates, Following Reserve Bank Cuts

March 17, 2020 @ 10:59 am By Omar Faridi |

Three major Australian neobanks have slashed their interest rates by 0.25% during the past few days, following the decision taken this month by the nation’s reserve bank to reduce rates. 86 400 was reportedly the first Australian digital bank to reduce the maximum interest rate… Read More

Digital Banking: Australian Consumers Turn to Judo, Xinja, Volt, and 86 400 to Take Advantage of Market Leading Interest Rates

March 3, 2020 @ 8:54 am By Omar Faridi |

Smart savers have increasingly been turning to all-digital banking platforms or neobanks. They’ve been depositing their savings into virtual accounts in order to benefit from highly competitive interest rates. According to the latest data from the Australian Prudential Regulation Authority (APRA), Judo Bank had been… Read More