Xinja, an Aussie neobank, has brought down the generous interest rate on its Stash accounts from 2.25% to 1.8%. The 2.25% interest rate made Xinja stand out amid its competition – challengers and incumbents alike – when it first launched its deposit Stash account in January. The interest is calculated daily and paid monthly. It hit AUD 100 million ($64.9 million) in deposits after just 19 days, going at a growth rate which will have turned the heads of Australia’s big four banks – ANZ, Westpac, NAB and Commonwealth Bank. Wilson points out that 1.8% is still “very competitive” Having…
Aussie neobank Xinja loses 2.25% interest rate
Aussie neobank Xinja loses 2.25% interest rate
