Raiz has launched a new portfolio option which gives users more choice in what they're invested in, allowing them to select from 14 different ETFs, as well as Bitcoin. 

This custom portfolio offers an alternative to the seven existing Raiz portfolios where the investment assets are pre-selected:  

  • Conservative
  • Moderately Conservative
  • Moderate
  • Moderately Aggressive
  • Aggressive
  • Emerald (a portfolio made up of 'socially responsible' ETFs)
  • Sapphire (an aggressive portfolio which includes exposure to Bitcoin)  

Need somewhere to store cash and earn interest? The table below features savings accounts with some of the highest interest rates on the market.

Rates
Features
Conditions
Other
Provider
4000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • A high-interest online savings account with no monthly fees, easy withdrawals and award-winning digital banking
  • No withdrawal notice periods or interest rate penalties
  • Save up to 10% on eGift cards at over 50 retailers with Macquarie Marketplace
Disclosure

Savings Account

  • A high-interest online savings account with no monthly fees, easy withdrawals and award-winning digital banking
  • No withdrawal notice periods or interest rate penalties
  • Save up to 10% on eGift cards at over 50 retailers with Macquarie Marketplace
More details
Disclosure
400$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • Special offer: Savings Accelerator (Kick Starter offer).
  • For a limited time, new ING customers can get a bonus 0.70% p.a. on their savings rate on balances of $150,000 up to $500,000 for the first 4 months. T&Cs apply.
  • If your balance is over $500,000 (but less than $5 million) you will earn the ongoing variable rate of 4.7%
Disclosure

Savings Accelerator

  • Special offer: Savings Accelerator (Kick Starter offer).
  • For a limited time, new ING customers can get a bonus 0.70% p.a. on their savings rate on balances of $150,000 up to $500,000 for the first 4 months. T&Cs apply.
  • If your balance is over $500,000 (but less than $5 million) you will earn the ongoing variable rate of 4.7%
More details
Disclosure
000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • Set up your Pay Cycle and connect your accounts from over 140 financial institutions.
  • Retrace your spending steps into categories with Spending Footprint.
  • No monthly or international fees on any of your transactions.
Disclosure

Save Account

  • Set up your Pay Cycle and connect your accounts from over 140 financial institutions.
  • Retrace your spending steps into categories with Spending Footprint.
  • No monthly or international fees on any of your transactions.
More details
Disclosure
010000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • Earn up to 5.20% pa by depositing $1,000 in the previous month
  • No account fees
  • Easy access to your money

AMP Saver Account

  • Earn up to 5.20% pa by depositing $1,000 in the previous month
  • No account fees
  • Easy access to your money
More details
010000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • Deposit at least $1,000+ each month from an external source
  • Make 5 or more eligible transactions. Grow your savings balance each month
Disclosure

Savings Maximiser

  • Deposit at least $1,000+ each month from an external source
  • Make 5 or more eligible transactions. Grow your savings balance each month
More details
Disclosure
  • Set up your Pay Cycle and connect your accounts from over 140 financial institutions.
  • Retrace your spending steps into categories with Spending Footprint.
  • No monthly or international fees on any of your transactions.

More details
Important Information and Comparison Rate Warning

All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here. Rates correct as of December 21, 2024. View disclaimer.

Important Information and Comparison Rate Warning

The 14 ETFs that custom portfolio users can choose from are:

    1. Betashares Aust High Int. Cash - AAA,AU
    2. SPDR S+P 200 – STW.AU
    3. IAA – iShares S+P Asia 50
    4. IEU – iShares S+P Europe 350
    5. IAF – iShares Composite Bond
    6. RCB – Russell Aust Select Corp Bond
    7. IVV – iShare Core S+P 500
    8. RARI – Russell Australian Responsible Investment
    9. ETHI – Global Sustainability Leaders ETF
    10. NDQ – BetaShares NASDAQ 100
    11. FAIR – BetaShares Australian Sustainability Leaders
    12. IOO – iShares Global 100
    13. VGE – Vanguard FTSE Emerging Markets Shares
    14. IXJ – iShares Global Healthcare

According to Raiz, this gives more customer choice: users can build portfolios that are much more tech or internationally focused, for example, or can choose to include sustainable options in their ETF. 

Brendan Malone, CEO of Raiz Invest, said this new portfolio was requested by customers in their feedback. 

"Raiz wants to be with our customers on their financial journey and we see the custom portfolio option as providing this additional literacy and assisting them on their path," Mr Malone told Savings.com.au. 

"When a customer is ready to take more control of their finances, we want to be there for them and continue to provide options that can match their level of interest and sophistication."

Raizcustom2

Image: Supplied by Raiz. 

The app also suggests it could be cheaper to invest through Raiz than investing in individual ETFs through a broker.  

"If you were to create a portfolio of 14 ETFs by purchasing them through a broker, it could cost hundreds of dollars in brokerage fees depending on who you use. Also, if you switched the ETFs you hold or topped up your holdings, these costs would increase," it said. 

"With Raiz, users can deposit, withdraw, and change as often as they like, whenever they like, and the Custom Portfolio fee is just $4.50 per month for accounts with balances less than $20,000, or 0.275% p.a. for balances exceeding $20,000."

For extra flexibility, Raiz also lets users name their portfolio - this won't affect the returns at all, but it could make investing easier by naming it after an investment goal, for example. 

Raizname

You could name your portfolio 'flibbly-wibbly' if you really wanted to. Image: Supplied by Raiz. 

See also: 10 popular mobile apps for budgeting and saving

Investing comes with its risks 

Raiz Managing Director George Lucas had previously told Savings.com.au that micro-investing/ETF apps like Raiz could be a worthwhile alternative to cash deposits and savings accounts, due to the record low, below-inflation interest rates these products now offer. 

“It (Raiz) provides people access to a range of investment portfolios designed to suit differing investors and their goals," Mr Lucas said. 

"Inflation may be low, but interest rates are in many cases even lower. Taking more active control of their finances will ensure more people are proactive in doing what is best for them, and not the institutions who hold their cash."

Read: How to start investing for millennials

But investing is a different kettle of fish from saving, and even though ETFs carry a lower level or risk than other investment options (like buying shares individually), they still aren't risk free.

Choosing an asset allocation in a portfolio, rather than selecting a ready-made one, can carry some extra risks. 

"We understand customised portfolios will not be suitable for everyone, so we encourage our customers to make sure they have read and understood our PDS, to be aware of the additional risks," Mr Malone said. 

"Raiz is suitable for Australians who want to use the automated saving and investing features to learn about investing, build emergency funds or even save for something important like a house or car.

"With the addition of custom portfolios, we can further educate and help our customers understand market movements and volatility."

Raizperf

The returns of Raiz's different portfolios. Past performance is not a guarantee of future performance. 

Image source: Raiz