Volt Bank has followed the big bank pack and cut the interest rate on its variable rate savings account by 25 bps - to 1.90 per cent.
By Friday, all four big banks had cut the bonus rates on competing products by 25 basis points and thanks to the dramas at Xinja Bank,
Volt came under scrutiny in Banking Day last week over its business model.Over at 86 400, as of this morning the neobank is holding its 2.0 per cent rate.
ING Bank, the offer remains 1.95 per cent, with an "additional variable rate of 1.70 per cent" a feature Volt abhors.