Debut is excited to introduce two revolutionary new features to help Kiwis fight inflation and grow their savings: Universal Interest and Savings PowerUps.
Introducing Savings PowerUps — Turbocharge Your Savings 🏎
Starting today, you can earn up to 5.10%* on your Cash Account and Savings with Universal Interest. We’re taking it even further with Savings PowerUps! Take your Savings Sheds to the next level and earn even greater returns. PowerUps are easy-to-use add-ons that supercharge your savings, allowing you to earn even more.**
* Interest rates are subject to change.** Returns are not guaranteed.
Why Savings PowerUps are a Game-Changer
Low Risk, High Reward: Savings PowerUps are based on stable investments like cash, bonds, and fixed-interest products. This means they’re designed to be safe while giving you better returns.
Great Returns: Savings PowerUps aim to deliver returns above 5.20%*, which means more money in your Savings Shed. These returns aim to closely mirror New Zealand’s Official Cash Rate.
No Strings Attached: Use your account as you normally would, with no minimum deposits, lockups, or penalties.
How do Savings PowerUps work?
Activate a PowerUp on any Savings Shed in Debut to start earning great returns without the fuss. Your returns are delivered at the end of every month.
How is Tax Calculated?
We take care of the tax for you. We are working on a tax facility within the app, but for now you can request records through the in-app-support.
Start Using Savings PowerUps Today
Ready to turbocharge your savings? You can start using PowerUps in Savings Sheds today with our latest app release.
Here’s How to Get Started:
- Open a Savings Shed: Open the Debut App, go to the Savings tab, and either edit an existing Savings Shed or create a new one.
- Activate Your PowerUp: Tap "Activate PowerUp" and follow the simple on-screen instructions.
- Set Your Tax Details: Enter your IRD number and Prescribed Investor Rate (PIR). Don’t worry if you’re unsure—we’ll guide you through it.
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Another Way to Grow Your Money with Debut
Earn interest on every dollar with Universal Interest
We’ve also introduced Universal Interest, which helps you earn interest on every dollar in your account – including your Cash Account. It’s a great way to fight inflation and grow your savings.
*Returns aim to mirror the movements of the Official Cash Rate and are subject to changes. Returns are not guaranteed.
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Please note, Debut is not a registered bank under the Banking (Prudential Supervision) Act. This is about our future intentions. Investments with us are not supervised currently by the Reserve Bank of New Zealand.
