Bank Australia Bonus Saver
0.05% p.a.(for $1 and over)
1.70% p.a. (for $1 and over)
Bank Australia Bonus Saver
0.05% p.a.(for $1 and over)
1.70% p.a. (for $1 and over)
Bank Australia Bonus Saver
0.05% p.a.(for $1 and over)
1.70% p.a. (for $1 and over)
Mozo Review Bank Australia Bonus Saver Review
Last updated: 26 November 2019.
What's hot:
2019 Mozo Experts Choice Excellent Banking App
1.70% special rate (Ts and Cs apply)
Unlimited phone and internet transactions
What's not:
Rate drops to 0.05% if special rate conditions aren’t met
$2.50 fee when you withdraw funds from a branch
Mozo snapshot:
If you need a place to stash your cash for while, meet the Bonus Saver by Bank Australia. With this account the standard rate gets boosted to 1.70% when you deposit $100 into your account every month and make no withdrawals, it's too easy.
You'll also be able to access the Bonus Saver account on your phone through the 2019 Mozo Experts Choice Excellent Banking App award-winning Bank Australia app.
Key features:
The Bonus Saver by Bank Australia has a lot of the features you want in a savings account. To start with, it doesn’t cost a cent to open the account and there are no ongoing fees, plus it has a 1.70% maximum interest rate.
Just keep in mind, if you don’t meet the conditions of depositing $100 into the account each month and making no monthly withdrawals, the standard interest rate will drop to a low 0.05%.
If you like to do your banking face to face, also be mindful you’ll be charged $2.50 for dipping into your savings over the counter at a Bank Australia branch. That’s why it’s cheaper and more convenient to manage your account elsewhere such as through the internet banking portal or over the phone. When it comes to topping up your Bonus Saver account, you can also do it via BPay.
Who it's good for:
Bank Australia's Bonus Saver could be the perfect account for someone who wants to make small deposits and still receive a bonus rate.
Any catches?
If you forget to make that monthly $100 deposit or withdraw funds, you’ll miss out on accruing interest at the higher rate, until you take the opportunity and do it the following month.
Details
Rates and fees information correct as at 17 January 2020. 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: 0.00% p.a.
Balances from $1: 0.05% p.a. -
Balances from $0: 0.00% p.a.
Balances from $1: 1.70% p.a. -
Minimum deposit of $100 and no withdrawals in the month
Fees
-
$0.00
-
n/a
-
Unlimited transactions from phone, internet, BPay and counter deposits.
-
n/a
-
n/a
-
n/a
-
$0.00
-
$2.50
-
n/a
-
$0.00
-
$0.00
-
n/a
Other financial bits
-
$0.00
-
$0.00
-
Monthly
Features
-
no
-
none
-
no
-
no
-
no
-
yes
-
no
-
yes
-
yes
-
yes
-
no
-
none
-
none
-
none
Customer Reviews
How are Bank Australia savings accounts rated by the Mozo community?
Latest reviews of Bank Australia Bonus Saver
-
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.
Read full reviewFrom 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.
Price8/10Features6/10Customer service8/10Convenience5/10LessTrust8/10 -
Excellent
Very good and fast service.
Read full reviewVery good and fast service.
Price-1/10Features-1/10Customer service10/10Convenience-1/10LessTrust-1/10 -
Online bank great for saving
Good bank to keep your money away from your everyday spending account, great interest rate.
Read full reviewGood bank to keep your money away from your everyday spending account, great interest rate.
Price8/10Features8/10Customer service7/10Convenience7/10LessTrust8/10 -
Easy to deal with.
Most of the tellers are very easy to talk to and listen to any concerns I might have and help me find a solution.
Read full reviewMost of the tellers are very easy to talk to and listen to any concerns I might have and help me find a solution.
Price7/10Features8/10Customer service6/10Convenience8/10LessTrust9/10 -
Customer service is Number 1
Bankmecu has the best customer service that I have found in a bank.
Read full reviewBankmecu has the best customer service that I have found in a bank.
Price10/10Features6/10Customer service10/10Convenience4/10LessTrust10/10
About Bank Australia
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.
Promoted
AMP
Saver Account
2.36% p.a. (for $0 to $250,000)
1.40% p.a.(for $0 to $5,000,000)
$0.00
Promoted
Suncorp
Growth Saver Account
1.95% p.a. (for $0 and over)
0.20% p.a.(for $0 and over)
$0.00
Promoted
UBank
USaver with Ultra Transaction Account
2.10% p.a. (for $0 to $200,000)
1.04% p.a.(for $0 to $5,000,000)
$0.00
Promoted
Bankwest
Hero Saver
1.85% p.a. (for $0 to $250,000)
0.01% p.a.(for $0 to $5,000,000)
$0.00
Promoted
Rabobank
High Interest Savings Account
2.50% p.a. (for $0 to $250,001)
1.05% p.a.(for $0 to $250,001)
$0.00
Promoted
HSBC
Serious Saver
2.35% p.a. (for $0 to $1,000,000)
0% p.a.(for $0 and over)
$0.00
Promoted
IMB Bank
Reward Saver Account
2.00% p.a. (for $5,000 and over)
0% p.a.(for $0 and over)
$0.00
Promoted
UBank
USaver with Ultra Transaction Account
2.10% p.a. (for $0 to $200,000)
1.04% p.a.(for $0 to $5,000,000)
$0.00
Promoted
Bankwest
Hero Saver
1.85% p.a. (for $0 to $250,000)
0.01% p.a.(for $0 to $5,000,000)
$0.00
Promoted
Suncorp
Growth Saver Account
1.95% p.a. (for $0 and over)
0.20% p.a.(for $0 and over)
$0.00
Promoted
Citi
Online Saver
2.30% p.a. (for $0 to $500,000)
0.85% p.a.(for $0 and over)
$0.00
Promoted
IMB Bank
Reward Saver Account
2.00% p.a. (for $5,000 and over)
0% p.a.(for $0 and over)
$0.00
Promoted
HSBC
Serious Saver
2.35% p.a. (for $0 to $1,000,000)
0% p.a.(for $0 and over)
$0.00
Promoted
Bankwest
Hero Saver
0.01% p.a.(for $0 to $5,000,000)
1.85% p.a. (for $0 to $250,000)
Promoted
HSBC
Serious Saver
0% p.a.(for $0 and over)
2.35% p.a. (for $0 to $1,000,000)
Promoted
IMB Bank
Reward Saver Account
0% p.a.(for $0 and over)
2.00% p.a. (for $5,000 and over)
Promoted
Newcastle Permanent
Smart Saver
0% p.a.(for $0 and over)
2.30% p.a. (for $0 and over)
Promoted
ANZ
Progress Saver
0.01% p.a.(for $0 and over)
1.60% p.a. (for $0 and over)
Promoted
Auswide Bank
Ziggy Kids Saver
0.01% p.a.(for $0 and over)
2.26% p.a. (for $0 and over)
