What’s the point? I don’t get Xinja, I can’t see the point of difference?
It’s a competitive rate and you don’t have to keep a minimum in there or make a minimum number of deposits or payments - so no strings. So it’s pretty good for savings up to $50k. Obviously, with the new cap, you’d need a different account for anything over that amount. We decided to cap the interest paying amount rather than dropping the rate, as this benefited the majority (85%) of our customers who had < $50k in their savings. For this with more, they still get the benefit up to $50k.