‘Sleepy’ savings rates hurting SMSF returns | Australian Markets
Unchecked savings rates are doubtless leaving self-managed super fund (SMSF) account holders considerably out of pocket, new information from financial product comparability web site Mozo reveals, with money holdings doubtless delivering half their present incomes energy.
Currently, the average SMSF savings account presents 2.22% in curiosity to account holders – a return of round $4,480 per 12 months on a $200,000 super stability.
The highest SMSF savings fee, at present supplied by Qudos Bank, is more than double this fee – at 4.45% – which might earn SMSF holders an average of round $9,080 per 12 months on this similar stability.
Over 5 years, and on an average stability of $200,000, this fee discrepancy provides up to more than $26,000 in further curiosity.
Mozo in contrast 35 SMSF savings accounts, noting a 2.23% discrepancy between the average fee (at 2.22%) and the very best fee of 4.45%, Qudos’s DIY Super Saver.
Even the fifth highest fee of 4.05%, at present supplied by Rabobank, would give SMSF savers more than $21,300 in curiosity over 5 years, Mozo famous.
“Many SMSF savers don’t realise that leaving their cash in a low interest account could be costing them tens of thousands of dollars, as when it comes to large SMSF balances, the tiniest difference in rates really adds up,” stated Mozo’s Rachel Wastell.
“SMSFs are all about taking control of your financial future, and that includes ensuring your money is working as hard for you as it possibly can.”
Mozo’s top-ranked SMSF savings accounts (by curiosity returns) as at 3 April 2025:
| Provider Name | Product Name | Interest Rate* | Interest
(1 12 months) |
Interest
(5 years) |
| Qudos Bank | DIY Super Saver | 4.45% | $9,084 | $49,736 |
| Macquarie | Cash Management Accelerator Account | 4.40% | $8,980 | $49,115 |
| Bank First | Bonus Saver | 4.35% | $8,876 | $48,495 |
| Police Credit Union | Super MyWay | 4.10% | $8,356 | $45,419 |
| Rabobank | SMSF 90 Day Notice Saver | 4.05% | $8,252 | $44,809 |
| HSBC | Bonus Saver | 4.00% | $8,148 | $44,199 |
| Rabobank | SMSF PremiumSaver | 4.00% | $8,148 | $44,19 |
Rabobank, Qudos Bank, Macquarie and Bank First have been featured as winners of Mozo’s Experts Choice Awards for SMSF Savings Accounts 2025.
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