In a note sent to customers today, the neobank today told customers that as at November 23, it is lowering the cap on the maximum interest rate from $150,000 to $50,000.
This means that for any deposits above $50,000 in Xinja's stash account, no interest will be earned.
On the maximum interest rate of 1.50% p.a, that's roughly $1,500 in potential interest lost on a $150,000 deposit in a single year.
Need somewhere to store cash and earn interest? The table below features savings accounts with some of the highest non-introductory and introductory interest rates on the market.
All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product.
By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here. Rates correct as of July 27, 2024. View disclaimer.
Xinja also told customers it would not be cutting its Stash interest rate - making it one of the few banks to do so - but this interest rate is only available for existing customers.
There are no conditions to earn this 1.50% p.a interest rate, aside from being an existing customer, making it one of the highest ongoing savings account rates on the market.
All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product.
By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here. Rates correct as of July 27, 2024. View disclaimer.