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Bank of Melbourne Incentive Saver Account

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The details shown below are for the Incentive Saver Account
The details shown below are for the Incentive Saver Account (Kids)

Choose the version of this product that suits you best

Name
Incentive Saver Account
Incentive Saver Account (Kids)
  • Incentive Saver Account
  • Incentive Saver Account (Kids)
Interest rate
1.85% p.a.(for $0 and over)
Maximum rate
5.25% p.a. (for $0 to $250,000)
Govt deposit guarantee
Yes up to $250,000
Interest rate
1.85% p.a.(for $0 and over)
Maximum rate
5.15% p.a. (for $0 to $250,000)
Govt deposit guarantee
Yes up to $250,000

Details

Rates and fees information correct as at 13 October 2024. 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: 1.85% p.a.

Balances from $0: 5.25% p.a.
Balances from $250,000: 5.00% p.a.

Intro bonus rate of 5.25% for balances up to $250,000 for the first 3 months, reverting to 5.15%. Balance must grow by at least $50 a month. If under 21, balance must grow by $0.01 a month (excluding interest).

Fees

$0.00

n/a

Unlimited transactions from network ATM, phone, internet, EFTPOS and counter deposits and withdrawals

$0.00

Bank of Melbourne, BankSA, St George, Westpac

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

n/a

Other financial bits

$1.00

$0.00

Monthly

Features

yes

$2,000.00

no

no

no

yes

no

yes

yes

yes

yes

none

0.10% extra intro bonus rate if the account is opened online.

none

^See information about the Mozo Expert Choice Awards

Details

Rates and fees information correct as at 13 October 2024. 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: 1.85% p.a.

Balances from $0: 5.15% p.a.
Balances from $250,000: 5.00% p.a.

Intro bonus rate of 5.25% for balances up to $250,000 for the first 3 months, reverting to 5.15%. Grow the account balance by any amount each month.

Fees

$0.00

n/a

Unlimited transactions from network ATM, phone, internet, EFTPOS and counter deposits and withdrawals

$0.00

Bank of Melbourne, BankSA, St George, Westpac

$0.00

$0.00

$0.00

$0.00

$0.00

$0.00

n/a

Other financial bits

$1.00

$0.00

Monthly

Features

yes

$2,000.00

no

no

no

yes

no

yes

yes

yes

yes

none

0.10% extra intro bonus rate if the account is opened online.

Up to 15

^See information about the Mozo Expert Choice Awards

Customer Reviews

How are Bank of Melbourne savings accounts rated by the Mozo community?

Overall
7.7/10
Price
7.5/10
Features
7.4/10
Customer service
8.5/10
Convenience
8.0/10
Trust
8.2/10
Based on 182 Bank of Melbourne savings account 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.

Latest reviews of Bank of Melbourne Incentive Saver Account Savings Account

About Bank of Melbourne

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Macquarie

Savings Account

5.35% p.a. (for $0 to $250,000)

4.75% p.a.(for $0 to $1,000,000)

Yes up to $250,000

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ING

Savings Maximiser

5.50% p.a. (for $0 to $100,000)

0.55% p.a.(for $0 and over)

Yes up to $250,000

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Unity Bank

MoneyMAX

No Current Offer

4.70% p.a.(for $1 and over)

Yes up to $250,000

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BCU Bank

Bonus Saver

5.00% p.a. (for $0 and over)

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

Yes up to $250,000

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ING

Savings Accelerator

3.55% p.a. (for $0 to $50,000)

2.85% p.a.(for $0 to $50,000)

Yes up to $250,000

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Westpac

Life - 18-29 years old

5.20% p.a. (for $0 to $30,000)

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

Yes up to $250,000

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MyState Bank

Bonus Saver Account

5.00% p.a. (for $0 to $250,000)

0.05% p.a.(for $0 and over)

Yes up to $250,000

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Macquarie

Savings Account

5.35% p.a. (for $0 to $250,000)

Yes up to $250,000

4.75% p.a.(for $0 to $1,000,000)

Thumbnail icon for ING
ING

Savings Maximiser

5.50% p.a. (for $0 to $100,000)

Yes up to $250,000

0.55% p.a.(for $0 and over)

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BCU Bank

Bonus Saver

5.00% p.a. (for $0 and over)

Yes up to $250,000

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

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Unity Bank

MoneyMAX

No Current Offer

Yes up to $250,000

4.70% p.a.(for $1 and over)

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MyState Bank

Bonus Saver Account

5.00% p.a. (for $0 to $250,000)

Yes up to $250,000

0.05% p.a.(for $0 and over)

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Westpac

Life - 18-29 years old

5.20% p.a. (for $0 to $30,000)

Yes up to $250,000

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

Thumbnail icon for ING
ING

Savings Accelerator

3.55% p.a. (for $0 to $50,000)

Yes up to $250,000

2.85% p.a.(for $0 to $50,000)

Thumbnail icon for ING
ING

Savings Maximiser

0.55% p.a.(for $0 and over)

5.50% p.a. (for $0 to $100,000)

Yes up to $250,000

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BCU Bank

Bonus Saver

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

5.00% p.a. (for $0 and over)

Yes up to $250,000

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MyState Bank

Bonus Saver Account

0.05% p.a.(for $0 and over)

5.00% p.a. (for $0 to $250,000)

Yes up to $250,000

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First Option Bank

Kids Bonus Saver

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

0.85% p.a. (for $5,556 and over)

Yes up to $250,000

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Auswide Bank

Ziggy Kids Saver

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

3.01% p.a. (for $0 and over)

Yes up to $250,000

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ANZ

Progress Saver

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

4.25% p.a. (for $0 and over)

Yes up to $250,000

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