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abal banking Personal Online Savings Account

Advertiser disclosure
Interest rate
0.50% p.a.(for $0 to $500,000)
Maximum rate
No Current Offer
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review abal banking Personal Online Savings Account

Last updated: 21 January 2021.

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What's hot
  • 0.50% p.a. interest rate
  • No account keeping fees
  • Access your money via internet banking, ATM and EFTPOS
What's not
  • $1 EFTPOS fee
  • $2.50 withdrawal fee
Mozo snapshot

The Arab Bank Personal Online Savings Account comes with all the convenience you’d expect from an everyday transaction account while also providing 0.50% p.a. interest on your savings. Your money is readily accessible via internet banking, ATM and EFTPOS, and you won’t have to worry about monthly account keeping fees.

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Key features

The Arab Bank Personal Online Savings Account functions similarly to a transaction account, with the added bonus of providing you with interest on your funds. Balances of at least $1 will receive an interest rate of 0.50% p.a., while balances of $500,000 or more will be looking at a more attractive 0.70% p.a.

Unlike other savings accounts, you won’t be required to link this one to a separate transaction account. Instead, you’ll be issued a Visa debit card and will be able to access your money whenever you like through internet banking, ATM and EFTPOS.

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Who is it good for

The Arab Bank Personal Online Savings Account would be appreciated by anyone who prefers to keep their money in one place, as opposed to spreading it across different accounts.

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Any catches

While you’ll be able to access your funds in a variety of ways, you might encounter the occasional small fee. For example, there is an EFTPOS fee of $1, an over the counter withdrawal fee of $2.50, a direct debit fee of $0.50, and a BPAY fee of $0.50.

Details

Rates and fees information correct as at 25 January 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Balances from $0: 0.50% p.a.
    Balances from $500,000: 0.70% p.a.

  • n/a

  • n/a

Fees
  • $0.00

  • n/a

  • Unlimited free transactions from internet. One counter transaction.

  • $0.00

  • Arab Bank Australia

  • $0.00

  • $0.00

  • $2.50

  • $1.00

  • n/a

  • $0.00

  • n/a

Other financial bits
  • $1.00

  • $0.00

  • Monthly

Features
  • yes

  • $1,020.00

  • no

  • no

  • yes

  • yes

  • no

  • no

  • yes

  • yes

  • no

  • none

  • none

  • none

Customer Reviews

How are abal banking savings accounts rated by the Mozo community?

Overall
7.3/10
Price
7.0/10
Features
6.9/10
Customer service
7.2/10
Convenience
6.8/10
Trust
7.5/10

Latest reviews of abal banking Personal Online Savings Account

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About abal banking

Arab Bank of Australia is a wholly owned subsidiary of Arab Bank plc which has been operating in Australia since 1986. With branches in the Sydney Metropolitan district and in Melbourne, the Bank&'s mission is "to be a relationship bank delivering superior service and excellence in selected products". Check out their competitive home loans and transaction and savings accounts, which will give you unlimited number of free ATM transactions at over 3,100 rediATMs across the country, as well as their term deposits and personal loans.

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0.05% p.a.(for $0 and over)

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Yes up to $250,000

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