Bank of Sydney SuperRate Account

1.75% p.a.(for $0 and over)

2.80% p.a. (for $1 to $250,000)

Bank of Sydney SuperRate Account

1.75% p.a.(for $0 and over)

2.80% p.a. (for $1 to $250,000)

Mozo Review   Bank of Sydney SuperRate Account Review

Last updated: 21 February 2019.

What's hot:
  • 2019 Mozo Experts Choice Award

  • 2.80% p.a. special interest rate (first four months)

  • Unlimited free transactions from internet banking

  • $0 account keeping fees

What's not:
  • $5 over the counter withdrawal fee

Mozo snapshot:

The Bank of Sydney SuperRate Account has all the features to impress even the most dedicated money stasher. In fact, it recently impressed our 2019 Mozo Experts Choice Award judges enough to award it a winner in the No Strings Savings category. 

It doesn’t have any account keeping fees, so you could use the money you’d normally spend on fees to invest more in your savings. On top of that, you'll receive a generous 2.87% p.a. ongoing bonus rate on balances up to $250,000 if you set up a periodic payment of at least $200 per month from a linked transaction account. Just keep in mind after the first 4 months it reverts to a 1.75% p.a. base rate, which is still pretty competitive interest rate.

Key features:

The Bank of Sydney SuperRate Account could be the boost in the right direction that your money goals need. With the SuperRate account, there are no account keeping fees, and the minimum opening deposit is only $1. As well as saving on these fees, you can make your money work for you through Bank of Sydney’s ‘super’ rates. With a bonus rate of 1.05% p.a. for the first 4 months in addition to the standard interest rate of 1.75% p.a., you could nab a total 2.87% p.a. bonus interest rate. All you’d have to do is have a Bank of Sydney transaction account and set up monthly payments of at least $200 into the savings account for the four months. Don’t forget, after the four months or if you fail to meet these conditions the rate will revert back to the standard rate.

The SuperRate account also makes online banking easier, because with free unlimited internet banking transactions you can access your account anywhere, anytime. And feel free to make over the counter withdrawals whenever you like, but just remember it’ll set you back $5 each time.

Who it's good for:

There is no minimum balance requirement and only a $1 minimum opening deposit so the Bank of Sydney SuperRate Account is good for people who want to save on fees and get started on building a bumper stash.

Any catches?

Just keep in mind you’ll need to make the deposit of $200 to access the intro rate. And this account is limited to ‘new funds’, so it may only apply to existing customers, make sure you check the fine print to see if you meet the conditions.

Details

Rates and fees information correct as at 21 February 2019. 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: 1.75% p.a.

  • Balances from $0: 0.00% p.a.
    Balances from $1: 2.80% p.a.
    Balances from $250,000: 1.75% p.a.

  • Must set up a periodic payment of minimum $200 per month from a linked transaction account, available for first 4 months.

Fees
  • $0.00

  • none

  • Unlimited free transactions from internet banking

  • none

  • none

  • none

  • $0.00

  • $5.00

  • none

  • none

  • $0.00

  • none

Other financial bits
  • $1.00

  • $0.00

  • Monthly

Features
  • no

  • none

  • no

  • no

  • yes

  • yes

  • no

  • yes

  • yes

  • yes

  • no

  • none

  • none

  • none

Customer Reviews

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

Overall customer rating
7.9/10
Price
7.1/10
Features
6.5/10
Customer service
8.8/10
Convenience
6.7/10
Trust
8.0/10
Bank of Sydney

About Bank of Sydney

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