Interest rate
0.30% p.a.(for $2,000 to $150,000)
Maximum rate
No Current Offer
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review Bank First Online Saver

Last updated: 1 December 2020.

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What's hot
  • Unlimited free transactions from phone, internet and BPay.
  • No account fees
What's not
  • 0.05% interest rate for balances below $2,000
Mozo snapshot

The Bank First Online Saver is all about making it simple to grow and access your savings stash, made easy through internet and phone deposits. With an ongoing interest rate of 0.30% when you keep a balance above $2000, and no account fees or minimum balances you’ll be on your way to reaching your savings goal in no time. 

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Key features

Grow your savings with the Bank First Online saver account! This account is great for serious savers with it’s competitive interest rate, no withdrawal limits and phone and internet banking options.

Savers should know that this account does come with a three tiered interest rate system. For balances between $0 and $2,000 there is a lower rate of 0.05%, however for balances between $2,000 and $150,000 you’ll receive the maximum interest rate of 0.30%. For balances over $150,000 you’ll earn an interest rate of 0.20%.

This account is purely online, so you can access your funds anytime and anywhere through online and phone banking. The Bank First Online Saver is also free of any account keeping fees as well as minimum deposits and withdrawals, so your money stays your money.

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Who is it good for

The Bank First Online Saver could be a good option for anyone who is seeking the convenience of an online account without the hassle of meeting monthly requirements.

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Any catches

In order to get the maximum interest rate of 0.30% you’ll need to have a balance between $2,000 and $150,000.

Details

Rates and fees information correct as at 17 May 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: 0.05% p.a.
    Balances from $2,000: 0.30% p.a.
    Balances from $150,000: 0.20% p.a.

  • n/a

  • n/a

Fees
  • $0.00

  • n/a

  • Unlimited free transactions from phone, internet, BPay.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • $0.00

  • $0.00

  • n/a

Other financial bits
  • $0.00

  • $0.00

  • Monthly

Features
  • no

  • none

  • no

  • no

  • no

  • no

  • no

  • yes

  • yes

  • yes

  • no

  • none

  • none

  • none

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 Online Saver

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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.

See Bank First savings accounts

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Bonus Saver Account

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

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Yes up to $250,000

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0.65% p.a. (for $0 and over)

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

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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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Hero Saver

0.70% 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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Bank of Queensland

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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HSBC

Flexi Saver

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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Citi

Online Saver

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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Virgin Money

Boost Saver with Go Account

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

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

Yes up to $250,000

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MyState Bank

Bonus Saver Account

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

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

Yes up to $250,000

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Virgin Money

Grow Saver

0.65% p.a. (for $0 and over)

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

Yes up to $250,000

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HSBC

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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Bankwest

Hero Saver

0.70% 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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Bank of Queensland

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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HSBC

Flexi Saver

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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Citi

Online Saver

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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Virgin Money

Boost Saver with Go 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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MyState Bank

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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Virgin Money

Grow Saver

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

0.65% p.a. (for $0 and over)

Yes up to $250,000

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HSBC

Serious Saver

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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Bankwest

Hero Saver

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

0.70% p.a. (for $0 to $250,001)

Yes up to $250,000

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Bank of Queensland

Fast Track Saver Account

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

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

Yes up to $250,000

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HSBC

Flexi Saver

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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ANZ

Progress Saver

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

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

Yes up to $250,000