The Mozo experts compared 447 products from 91 banks and credit unions before recognising RACQ Bank, among 10 other institutions, with the award.

RACQ Bank Head of Banking Product and Operations Will White said it was an honour to receive this award, which recognised the Bank’s commitment to offering members competitive solutions to help with their financial situation.

“With cost-of-living pressures and last year’s rise in interest rates, we were proud to have offered our members a competitive rate on our Bonus Saver Account, making it easier to earn more on their savings,” Mr White said.

“With this account, members can earn bonus interest by depositing at least $100 a calendar month and not making any debit transactions within that same month.

“In addition to a great rate, we offer competitive features on this product such as simple terms* and no short-term 'introductory' rates, making it a great option for members.

“We have achieved incredible growth through this product and it’s a credit to our devoted teams who remain committed to helping our members boost their savings.” 

The award category identified the best ongoing savings rates, either on an unconditional base rate or an interest rate where qualifying criteria were met each month.

More information on RACQ Bank’s Bonus Saver Account can be found here: Bonus saver account | RACQ

*Disclaimer

Rates current as at 21 November 2023 and subject to change at any time. Banking and loan products issued by Members Banking Group Limited ABN 83 087 651 054 AFSL/Australian credit licence 241195 trading as RACQ Bank. Terms, conditions, fees, charges and lending policies apply. This is general advice and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the disclosure documents for your selected product or service, including the Financial Services Guide and the Terms and Conditions, and consider if appropriate for you before deciding.