Stash Interest rate on deposits over $150k?

Xinja just announced that, from 14 October, the interest rate will be 1.5% and only up to $150k. What they didn’t say was, if you currently have say $200k earning 1.65%, whether the $50k (in this example) ‘excess’ will be grandfathered and thus continue to earn interest. I suggest Xinja clarifies this point upfront to avoid unnecessary concern…

Hi @dahlan7 welcome to the forum. To clarify, no. We will continue to pay interest only on amounts up to $150k in your Stash account. Any amount above that will not earn interest from next Wednesday, regardless of when it was deposited.


Must be news day today. Everything is happening.

As I mused on in another thread, this unfortunate rate drop was very predictable, so no one should really be too taken aback. It’s still a reasonable offering, given almost nothing is earning anything anywhere.

Anyway… I see your response has been answered. I was going to say that though I did not receive the email and don’t have Stash, I would imagine nothing would be “grandfathered”, which as it turns out is correct.

The one interesting thing though, is that this could be a precursor to the eventual reopening of Stash, which we will know will happen sometime after Dabble and personal loans come out in the next while. So, that’s an interesting sort of perhaps future thing. Maybe it’s something. Maybe not something.


Thanks @CaptainXinja for the welcome and for clarifying. I don’t have more than $150k in Stash, but some would and will appreciate your clarification.


I’m genuinely quite disappointed. As someone who has 244k in a “Stash” account this is simply a deal breaker. After so many cuts, this is feeling like one awful bait and switch game I won’t soon forget.

Xinja had real potential as the neobank of the future, but has proven itself to be just as bad as the big banks it claims to distinguish itself from.

I’d love to hear Xinja’s 2 cents on this.


Hi there

I too, have a tad over 200K in my Stash and although I understand the cuts I am thoroughly disappointed in the decision with both the interest rate cut and the ceiling now 150K. Double punch.

So, now I need to hunt around for somewhere to deposit the balance which was something I really wanted to avoid.



The last two posts had me curious so I went looking at a couple of comparison listing websites.

It wasn’t a thorough look, but there are a small number of offers at 1.55% and 1.6% and one or two at 2%, but they all seem to have conditions - primarily these being bonus rates for 4 months. I might have missed a couple of things, but that’s a pretty solid cross section. I haven’t looked at the other neobank services recently, but from memory they are all in a similar region with different conditions.

So… 1.5% is still a pretty ok rate, relative to everything else on offer. There might be some options, if you wanted to go above the new cut off.

Hope this of help to those looking around.


1.5% is a great rate for no conditions = to ING @ 1.5% but that has lots of conditions. Bottom line here though is Xinja have to get rid of a lot of deposits and quickly. I’m guessing the $150k is designed to do just that and that’s a smart business move.


86,400 allows up to 3 save accounts, each earning 1.6% pa on a max of $50,000 per save count. That seems a great alternative!


I’d be stunned if it stayed that high. Rates are going down everywhere.

Up went from 1.6% to 1.1%

I am trialling my ‘everyday’ banking with 86 400 at the moment and very happy with their current product offering. It still has a little way to go but the pay account has a lot more features than any other neo at present (instant payments, scheduled payments, mobile pay, BPay, etc.) and they keep delivering. Will be great when Xinja delivers a viable everyday banking product too.

Whilst Xinja’s announcement involves another rate cut, it seems they are still at the top of the market for savings at this point. 86400 have dropped theirs to 1.35% today, so Xinja keeps my stash for another round. :slightly_smiling_face: :ninja_emojis_blue_01:

I had really high hopes with Xinja’s product line up at the start of this year, but COVID has definitely taken its toll. :frowning_face:


@8rett I doubt they will be able to keep that high rate sadly.

Indeed a shame, but at least there is the transparency of the annoucement. Larger banks do attract customers with bonus offers and then rely on them being forgetful and leaving the balances there with tiny interest rates. However with the interest cap at $150K and deposit cap at $245K, will the transparency be there when some customers with balances over $150K are earning zero interest? :thinking:

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Just looking around a little more this morning at other account offerings and there’s little joy anywhere. I found a couple of recent articles about how rates are falling everywhere.

For those going to be hunting around now, the pickings are pretty slim. While no one likes savings reductions, 1.5% for a chunk of cash still remains in the top tier of offerings.

The other factor to consider is that the company has always offered top rates and held them for some time after it may have been prudent to do so. If these decisions are important for the company to progress and develop, then that seems reasonable.


I don’t see the commercial advantage of the conditions of some of the offerings. Is it just to be annoying or to pretend the deals are better than they really are? It is a strange world when deposit-taking organisations have become deposit deterring institutions.

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If you can’t do the conditions to get the highest interest with other banks then Xinja is best for you and if you have under 150k

However some people still have no stash account so what’s here at Xinja to keep people

Xinja need to pick up the slack and introduce banking needs/services as you can’t keep using the no conditions as your thing. It was used to get people in it looks to be staying so now the people want/need to see much more movement.

Personal loans great needed but other things missing that should be ahead of Dabble :man_shrugging:

Xinja is still miles behind other neobanks by a long way with what they offer I think they will need to pick up the game because people will not just stay around for no conditions on interest (I could be wrong) but that seems to be the only thing Xinja has at this point of difference with other banks.

Yes covid has been a problem in the world and many business/people have problems/issues due to it on all different lvls, however other neobanks still kept moving fixing/introducing products/services.

I do think its time maybe to play catch up and maybe not try to introduce products that could be left for later (Dabble) and maybe introduce other everyday products/services that all other banks offer which I am sure many would like to see eg - BPay.

No conditions for interest isn’t going to be what people stay for in the long run if a bank can’t be fully used as a bank for everyday.


Hi @Ecosse - welcome to the community! :wave:

We’ve emailed our entire Stash customer base to notify them of this upcoming change, and shared this update to our website - along with this information being picked up and published across a few different news outlets.

We’re also planning to email everyone who have more than $150k in their account next week to remind them that funds above that will not earn interest - in case they’ve missed the message.


Its actually not a great rate at all for a neo bank compared to Tier 2 banks rates. If you have $245K the net rate is less than 1% on the total balance. I can do better elsewhere without the risk of a start up. Yes the deposits are government guaranteed but lets wait and see how long it takes to get your money back if the company goes under and you have to claim from the government. I think this is going to put real pressure on the value proposition of neo banks which have limited functionality.

Yes but at least you have a fully functioning transaction account with Up as well.