Designed specifically to help with a self-managed super fund (SMSF), the DIY Super Account is an interest earning hub where you are permitted to access your savings. This flexible investment account doubles as a transaction account, making it easy to move your SMSF money around when you need to.
IMB DIY Super
- Maximum variable rate
- 2.40% p.a.
- Base interest rate
- 2.4%p.a.
- Minimum deposit
- $0
Our verdict
With IMB, there’s no need for an investor to lock their money away in order to see a return on their cash.
Look closely at the details of the DIY Super if you need a banking solution for when you're in between investment options.
Pros
-
$0 monthly account keeping fee
-
Unlimited free internet, mobile and phone banking
Cons
-
Only available for SMSFs
Details
Key details
| Product Name | IMB DIY Super |
| Maximum Variable Rate | 2.40% p.a. |
| Standard Variable Rate | 2.40% p.a. |
| Monthly Account Fee | $0 |
| Minimum Opening Deposit | $0 |
| Minimum Age | 18 |
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Alison Finder
Editor
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Elizabeth Barry Finder
October 05, 2023
Hi Luke,
There is no specific policy around this in the product disclosure statement or target market determination but IMB specifies that the account may only be used to deposit funds and make transactions using the funds to operate the SMSF. It is also under the discretion of IMB whether it accepts a deposit into the account.
If you have specific questions about types of transactions, such as crypto, it would be best to direct these to IMB directly.
Thanks,
Elizabeth
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Angela Cramp
November 22, 2021
What is the best available offer for a corporate trustee bank account and for the SMSF
Alison Banney Finder
November 27, 2021
Hi Angela,
If you’re referring to the highest interest rate IMB DIY Super can offer, it’s 0.5% p.a. This introductory bonus interest on top of the base rate is available to new account holders with a balance of $5,000 or above for the first 4 months upon account activation. It’s worth noting that the variable interest rate may change following the RBA Cash Rate.
I hope this helps!
Thanks,
Alison
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Luke
October 03, 2023
What is the policy on crypto currency and purchasing with smsf