Interest rate
0.05% p.a.(for $0 and over)
Maximum rate
0.30% p.a. (for $0 and over)
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review BankSA Maxi Saver - last updated: 17 September 2021

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What's hot
  • 0.30% introductory rate
  • Open an account with as little as $1
  • Unlimited access to savings with a linked everyday transaction account
What's not
  • Interest rate reverts to 0.05% after the first three months
  • Bonus rate only available to new customers
Mozo snapshot

BankSA’s Maxi Saver account is a good way to grab yourself a higher introductory rate for a few months, without having to worry about depositing a certain amount regularly to get it. With this savings account you could earn an interest rate of 0.30% for the first three months, on balances as low as $1 (reverts to 0.05% after).

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Key features

The Maxi Saver comes with a three month introductory rate of 0.30%, made up of the standard 0.05% variable rate, plus a 0.55% bonus rate. Now the good thing about introductory rates is that you, usually, don’t have to do anything to earn them and this one is no exception. 

In other words, for the first three months that you have this account, you should be able to earn the full 0.30% without having to jump through the hoops that often come with a bonus saver account. This means no required minimum deposits into your savings account and no need to make a certain number of transactions.

To set up the account and earn the full interest rate on offer, you’ll just have to make sure you have a Complete Freedom everyday account and that you’ve never had a Maxi Saver account before. 

With this savings account you won’t be charged any ongoing monthly service fees and you’ll have online access to your money 24/7, via your linked everyday transaction account. 

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Who is it good for

If you’ve never had a Maxi Saver account and you’re not keen on wading through a mound of criteria for a higher interest rate, then you might be interested in giving your savings account a boost for three months.

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Any catches

As this is an introductory offer, you’ll only be able to benefit from the full 0.30% interest rate for the first three months. At the end of the introductory period the interest rate will revert to 0.05% and as this offer is only available to new customers, you won’t be able to claim the bonus again.

Details

Rates and fees information correct as at 24 October 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 $0: 0.30% p.a.

Bonus rate for the first 3 months from account opening

Fees

$0.00

n/a

Unlimited transactions from phone and internet

n/a

n/a

n/a

$0.00

$2.50

n/a

$0.00

$0.00

n/a

Other financial bits

$1.00

$1.00

Monthly

Features

no

none

no

no

no

yes

no

yes

yes

no

no

Must link to a transaction account with this provider

none

none

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