Online Saver Account
The Online Saver Account gives you access to your money exclusively via Internet Banking, so you can avoid temptation and reach your savings goals faster. Plus, you’ll be rewarded with a competitive bonus interest rate when the conditions on the account are met*.
Online access
only
Bonus interest
rate
Savings available
on call
Overview
Key features of the Online Saver Account are:
- Open to Australian citizens and permanent residents and non-personal from 11 years of age
- No minimum balance to get started
- Competitive interest rate calculated daily and paid monthly
- A bonus interest rate for balances between $0 - $500,000 when no withdrawals are made during the calendar month*
- Maximum balance $500,000
- No monthly account keeping fees
- Savings available on call
- Access exclusively via Internet Banking
- Free transfers available through a linked bank account
Rates & Fees
Here’s a summary of the rates and fees for the Online Saver Account:
- Monthly account keeping fee: $0
- FREE transfers to your linked bank account
|
Balance |
Interest Rate | Bonus Interest Rate |
|---|---|---|
| $0 - $500,000 | 0.10% p.a. | + 4.40% p.a. if no withdrawals in calendar month |
Download our Fees and Charges Schedule
FAQs
Take a look at our most frequently asked questions about the Online Saver Account. Or, call us on 1300 13 23 28 to speak to a consultant if you have a different question.
How is the interest calculated?
The Online Saver has two interest rate tiers as well as a bonus interest rate. Interest is calculated daily and is paid into your account monthly.
Your quarterly statement will display 2 separate line items identifying the standard interest earned and Bonus interest earned (if applicable).
Is there a minimum balance needed to open the account and keep it active?
No, there is no minimum balance required. However to earn the bonus interest rate on the account, your account balance must be between $0 and $500,000.
Are there any restrictions on withdrawals?
No, there are no restrictions; however you will forfeit any bonus interest if you make a withdrawal during the month.
How do I get the bonus interest rate?
In order to earn the bonus interest, you must meet two conditions.
- The account balance must be between $0 and $500,000.
- There must have been no withdrawals in the past full month.
In the event your account meets the balance criteria mid month (due to a deposit) and there have been no withdrawals in the month, the bonus interest will only be applied for the number of days that the account was eligible.
