7.7 / 10

based on 537 reviews as rated by Mozo community

Bank Australia savings accounts

Bank Australia is a customer owned bank. Formerly bankmecu, Bank Australia has over 130,000 customers which act as shareholders of the bank. It offers a full range of products including home loans, savings, credit cards and loan products, and because its shareholders are its customers, they benefit from lower rate and fees. Bank Australia also invests up to 4% of its profits in various community projects every year.

Bank Australia offers the following savings accounts

Rates and fees verified as correct at 27 November, 2020. Other information correct at the time of writing. Advertiser disclosure.

Product Interest rate Maximum rate Govt deposit guarantee
Bonus Saver

0.01% p.a.(for $0 and over)

0.95% p.a. (for $0 to $250,000)

Yes up to $250,000

mySaver

0.01% p.a.(for $0 and over)

1.15% p.a. (for $0 to $50,000)

Yes up to $250,000

Online Saver

0.40% p.a.(for $5,000 and over)

No Current Offer

Yes up to $250,000

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How are Bank Australia savings accounts rated?

Mozo users have rated Bank Australia savings accounts on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

Icon of savings-accounts
Bank Australia savings accounts
Overall
7.6/10
Price
Features
Customer service
Convenience
Trust

155 Reviews

Recent Bank Australia savings account reviews

Bank Australia Bonus Saver review
Overall 8/10
Good customer service, mostly ethical policies.

I joined Bank Australia when it was still a credit union. I was attracted by its ethical policies and commitment to climate change and environmental restoration. The interest rates are not as high as some other banks, but are reasonably competitive. I do feel that since becoming a bank there is less focus on fairness in their fee policies. For example you pay less account keeping fees if you have $50k in total funds with them. I don't think this is fair.

Read full review

I joined Bank Australia when it was still a credit union. I was attracted by its ethical policies and commitment to climate change and environmental restoration. The interest rates are not as high as some other banks, but are reasonably competitive. I do feel that since becoming a bank there is less focus on fairness in their fee policies. For example you pay less account keeping fees if you have $50k in total funds with them. I don't think this is fair.

Price
6/10
Features
1/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Helen, Victoria reviewed 2 months ago
Bank Australia mySaver review
Overall 10/10
Great customer oriented bank

As a student Bank Australia is brilliant. Love the message they stand for "Clean Money", and feel that they are making a difference. I would highly recommend Bank Australia to everyone!

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As a student Bank Australia is brilliant. Love the message they stand for "Clean Money", and feel that they are making a difference. I would highly recommend Bank Australia to everyone!

Price
8/10
Features
9/10
Customer service
10/10
Convenience
8/10
Trust
10/10
Less
Caleb, South Australia reviewed 5 months ago
Bank Australia mySaver review
Overall 9/10
Good for the environment, good for your savings

The 'green' focus of the bank means I don't need to feel guilty about indirectly funding the destruction of the environment, as I would with most other banks.

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The 'green' focus of the bank means I don't need to feel guilty about indirectly funding the destruction of the environment, as I would with most other banks.

Price
8/10
Customer service
10/10
Convenience
8/10
Trust
10/10
Less
Thomas, Tasmania reviewed 6 months ago
Bank Australia Bonus Saver review
Overall 8/10
Ethical.

From my research Bank Australia stood out as the most ethical banking option in Australia. I have been happy with their services but wish there were more branches.

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From my research Bank Australia stood out as the most ethical banking option in Australia. I have been happy with their services but wish there were more branches.

Price
8/10
Features
6/10
Customer service
8/10
Convenience
5/10
Trust
8/10
Less
Rachael, Victoria reviewed about 1 year ago

Savings account quick links