Bank First logo

Bank First First Saver Account

Advertiser disclosure
Interest rate
0.60% p.a.(for $2,000 and over)
Maximum rate
No Current Offer
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review Bank First First Saver Account

Last updated: 1 December 2020.

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What's hot
  • Unlimited free transactions (includes BPay)
  • Interest calculated daily
  • Zero account fees
What's not
  • Lower interest rate
Mozo snapshot

The Bank First Saver Account is a great cheap and cheerful option for first time savers. Young savers get unlimited free transactions, aren't charged any account keeping fees and, best of all, interest is calculated daily. 

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Key features

The First Saver Account is a low cost, low frills savings account that makes saving easy for kids. The account operates with a tiered interest rate system - balances from $0 to $2,000 earn 0.30%, while balances over $2,000 earn 0.60%. 

Unlike a lot of other savings accounts, the First Saver Account calculates interest daily, meaning that customers' savings are working harder for them, and that kids can reach their savings goals sooner. 

The First Saver Account also comes with unlimited free phone, internet and Bpay transactions and absolutely no account fees, making it very affordable for all young savers. 


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Who is it good for

The Bank First Saver Account is great for any young 'uns looking for a simple and easy way to save their money.

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Any catches

The First Saver Account is only available to customers aged 17 years or younger.

Details

Rates and fees information correct as at 5 March 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: 0.30% p.a.
    Balances from $2,000: 0.60% p.a.

  • n/a

  • n/a

Fees
  • $0.00

  • n/a

  • Unlimited free transactions from phone, internet, BPay.

  • n/a

  • n/a

  • n/a

  • $0.00

  • $0.00

  • n/a

  • $0.00

  • $0.00

  • n/a

Other financial bits
  • $0.00

  • $0.00

  • Quarterly

Features
  • yes

  • none

  • no

  • no

  • no

  • yes

  • no

  • yes

  • yes

  • yes

  • yes

  • none

  • none

  • Under 18

Customer Reviews

How are Bank First savings accounts rated by the Mozo community?

Overall
9.2/10
Price
8.7/10
Features
7.6/10
Customer service
9.4/10
Convenience
8.1/10
Trust
9.5/10

Latest reviews of Bank First First Saver Account

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About Bank First

Formerly Victoria Teachers Mutual Bank, Bank First is an award winning financial institution with a competitive range of banking products including personal loans, home loans, term deposits and savings accounts. Founded by Australian educators in 1972, Bank First offers all Australians outstanding value but doesn't compromise on service or quality. Best of all, Bank First customers become equal shareholders which means all the benefits are directly returned to you.

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1.05% p.a. (for $1 to $250,000)

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1.20% p.a. (for $0 to $250,000)

0.10% p.a.(for $0 and over)

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Serious Saver

0.30% p.a. (for $0 to $1,000,000)

0.15% p.a.(for $0 and over)

Yes up to $250,000

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0.80% p.a. (for $0 to $250,001)

0.01% p.a.(for $0 to $5,000,000)

Yes up to $250,000

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1.10% p.a. (for $0 to $500,000)

0.35% p.a.(for $0 and over)

Yes up to $250,000

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0.25% p.a. (for $0 to $5,000,000)

0.05% p.a.(for $0 to $5,000,000)

Yes up to $250,000

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Fast Track Saver Account

1.05% p.a. (for $1 to $250,000)

0.05% p.a.(for $1 and over)

Yes up to $250,000

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Bonus Saver Account

0.10% p.a.(for $0 and over)

1.20% p.a. (for $0 to $250,000)

Yes up to $250,000

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0.15% p.a.(for $0 and over)

0.30% p.a. (for $0 to $1,000,000)

Yes up to $250,000

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Hero Saver

0.01% p.a.(for $0 to $5,000,000)

0.80% p.a. (for $0 to $250,001)

Yes up to $250,000

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0.35% p.a.(for $0 and over)

1.10% p.a. (for $0 to $500,000)

Yes up to $250,000

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0.05% p.a.(for $0 to $5,000,000)

0.25% p.a. (for $0 to $5,000,000)

Yes up to $250,000

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0.05% p.a.(for $1 and over)

1.05% p.a. (for $1 to $250,000)

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

0.40% p.a. (for $0 and over)

Yes up to $250,000

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

1.40% p.a. (for $0 and over)

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