based on 942 Bank of Melbourne product reviews as rated by Mozo community

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.

Plus it won a 2023 Mozo Experts Choice Award for best High Interest Savings and best Kids High Interest Savings.

Bank of Melbourne offers the following savings accounts

Rates and fees verified as correct at 11 December 2023. 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)

5.25% 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
Overall
Price
Features
Customer service
Convenience
Trust

178 Reviews

Recent Bank of Melbourne savings account reviews

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 about 1 month 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 about 2 months ago
Bank of Melbourne Savings Account
Overall 7/10
Not perfect but better than every other bank

The Bank of Melbourne has its flaws like every other bank but, overall, they are better than any other bank with whom I've dealt in the past. In branch customer service is exceptional and their product range as good as offered anywhere.

Read full review

The Bank of Melbourne has its flaws like every other bank but, overall, they are better than any other bank with whom I've dealt in the past. In branch customer service is exceptional and their product range as good as offered anywhere.

Price
8/10
Features
8/10
Customer service
10/10
Convenience
3/10
Trust
8/10
Less
Stuart, Victoria, reviewed 4 months ago
Bank of Melbourne Savings Account
Overall 8/10
Provided excellent customer services previously.

Had excellent customer services until a year ago especially with closing of a number of branches.

Read full review

Had excellent customer services until a year ago especially with closing of a number of branches.

Price
9/10
Features
9/10
Customer service
8/10
Convenience
7/10
Trust
9/10
Less
Tin, Victoria, reviewed 5 months ago
See all savings account reviews
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