7.7/10

Based on 956 Bank of Melbourne product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.

Bank of Melbourne savings accounts

Formerly St.George in Victoria, The Bank of Melbourne provides a banking alternative to customers with its large range of products in home, personal and business banking. Based in Victoria the Bank of Melbourne offers its customers bank accounts, credit cards, term deposits, private banking services, home loans and personal loans.

Bank of Melbourne offers the following savings accounts

Rates and fees verified as correct at 26 June 2024. Other information correct at the time of writing. Advertiser disclosure.
Product Interest rate Maximum rate Govt deposit guarantee
Incentive Saver Account

1.85% p.a.(for $0 and over)

5.25% p.a. (for $0 to $250,000)

Yes up to $250,000

Incentive Saver Account (Kids)

1.85% p.a.(for $0 and over)

5.15% p.a. (for $0 to $250,000)

Yes up to $250,000

Investment Cash Account

1.00% p.a.(for $0 and over)

No Current Offer

Yes up to $250,000

Maxi Saver

1.10% p.a.(for $0 and over)

5.35% p.a. (for $0 and over)

Yes up to $250,000

How are Bank of Melbourne savings accounts rated?

Mozo users have rated Bank of Melbourne 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 of Melbourne savings accounts customer reviews
Overall
8.1/10
Price
7.6/10
Features
7.4/10
Customer service
8.5/10
Convenience
8.0/10
Trust
8.2/10
Based on 180 Bank of Melbourne product reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

Recent Bank of Melbourne savings account reviews

Bank of Melbourne Maxi Saver
Overall 10/10
Helpful, great interest, customer service fantasti

Bank of melbourne they are always willing to help with online banking just a phone call away. Both my children are banking with bank of melbourne

Read full review

Bank of melbourne they are always willing to help with online banking just a phone call away. Both my children are banking with bank of melbourne

Price
10/10
Features
10/10
Customer service
10/10
Convenience
10/10
Trust
10/10
Less
Jane, Victoria, reviewed about 1 month ago
Bank of Melbourne Incentive Saver Account
Overall 5/10
Come for the Customer service

The customer service can be exceptional over the phone, when you're prepared to wait & also in an actual bank. However, I'm in a country town. In which they shut down the bank & the ATM. The only way to do banking was online & you had to figure out for yourself that you could use a Westpac ATM. As, there was no notification given. A couple of years down the track now, we may be able to do banking in the Westpac branch. The closest Bank of Melbourne branch is an hour away. I still bank with them due to their service when I need it & the products are okay. Better then the competition.

Read full review

The customer service can be exceptional over the phone, when you're prepared to wait & also in an actual bank. However, I'm in a country town. In which they shut down the bank & the ATM. The only way to do banking was online & you had to figure out for yourself that you could use a Westpac ATM. As, there was no notification given. A couple of years down the track now, we may be able to do banking in the Westpac branch. The closest Bank of Melbourne branch is an hour away. I still bank with them due to their service when I need it & the products are okay. Better then the competition.

Price
5/10
Features
4/10
Customer service
7/10
Convenience
2/10
Trust
5/10
Less
Maddie, Victoria, reviewed 3 months ago
Bank of Melbourne Savings Account
Overall 7/10
Best customer service of all banks by far

They closed our nearest branch and our closest one now is 40 mins drive away so not happy about that. On the positive side, their customer service is by far the best we've experienced from any bank

Read full review

They closed our nearest branch and our closest one now is 40 mins drive away so not happy about that. On the positive side, their customer service is by far the best we've experienced from any bank

Price
9/10
Features
8/10
Customer service
10/10
Convenience
3/10
Trust
9/10
Less
Stuart, Victoria, reviewed 8 months ago
Bank of Melbourne Savings Account
Overall 8/10
Best customer service in banking sector

Bank of Melbourne, from my experience, has a level of customer service, in both their branches and call centres, that is unmatched by any other bank in this country.

Read full review

Bank of Melbourne, from my experience, has a level of customer service, in both their branches and call centres, that is unmatched by any other bank in this country.

Price
7/10
Features
7/10
Customer service
10/10
Convenience
2/10
Trust
9/10
Less
Stuart, Victoria, reviewed 9 months ago
See all savings account reviews
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.
Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

Savings account quick links