7.7 / 10

based on 546 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 28 February, 2021. 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)

0.50% p.a. (for $0 to $250,000)

Yes up to $250,000

mySaver

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

0.70% p.a. (for $0 to $50,000)

Yes up to $250,000

Online Saver

0.20% p.a.(for $5,000 and over)

No Current Offer

Yes up to $250,000

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

157 Reviews

Recent Bank Australia savings account reviews

Bank Australia Online Saver review
Overall 10/10
Amazing team!

The girls at my branch are always so friendly and helpful. They have helped me with a few difficulties that I was having so that I could understand how to solve it myself if I ever had the same problem again.

Read full review

The girls at my branch are always so friendly and helpful. They have helped me with a few difficulties that I was having so that I could understand how to solve it myself if I ever had the same problem again.

Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Collette, Victoria, reviewed about 1 month ago
Bank Australia Savings Account review
Overall 10/10
Great bank.

They put their customers and the environment first. You feel like your money is being put to good use.

Read full review

They put their customers and the environment first. You feel like your money is being put to good use.

Price
8/10
Features
7/10
Customer service
9/10
Convenience
9/10
Trust
7/10
Less
Chris, Victoria, reviewed 3 months ago
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 5 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!

Read full review

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 8 months ago

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