3.33% p.a. on every dollar in your balance — paid at 9am every morning. No minimum. No lock-up. No tiered nonsense.
Same model the big neobanks use to fund their interest accounts. The dollars backing your AUDD sit in tier-1 Australian bank deposit accounts, earning the bank-deposit rate (currently around 4% with the RBA cash rate at 4.10%).
We pay you 3.33% and keep the spread (~0.6%) to run the company. That's how Sorted makes money, and that's why every other feature is free.
When the RBA moves the cash rate, our rate moves with it — fairly and on a published schedule. We don't surprise-cut you to pad margins.
The RBA cash rate moves. Our rate moves with it, on a clear policy:
We commit to passing through fairly and being upfront about it. If we ever can't sustain a fair yield, we'll say so plainly — won't dress it up. Right now the maths works comfortably at 3.33% with the RBA at 4.10%.
The yield rate isn't guaranteed; the principal is. Your AUDD is fully reserved 1:1 by AUD held in tier-1 Australian banks — that doesn't change regardless of rates. The yield is the variable bit.
Conditions. A typical "5% high-interest" savings account requires you to deposit $X/month, never withdraw, and tap the card $Y times. Miss any condition, drop to 0.05%. Sorted has zero conditions — same rate on every dollar, every day, no matter what.
Top up any amount, balance starts earning the same second. Paid 9am tomorrow.