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BankSA Maxi Saver

Advertiser disclosure
Interest rate
1.10% p.a.(for $0 and over)
Maximum rate
5.35% p.a. (for $0 and over)
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review BankSA Maxi Saver - last updated: 17 November 2023

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What's hot
  • 5.35% p.a. introductory rate (first three months only)
  • Open an account with as little as $1
  • Unlimited access to savings with a linked everyday transaction account
  • Offer: Open your Maxi Saver account online and get a bonus 0.10% p.a. savings rate
What's not
  • Interest rate reverts to 1.10% 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 5.35% p.a. for the first three months, on balances as low as $1 (reverts to 1.10% p.a. after).

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Key features

The Maxi Saver comes with a three month introductory rate of 5.35% p.a., made up of the standard 1.10% p.a. variable rate, plus a 3.90% p.a. bonus rate, plus a 0.10% online bonus for new accounts opened online. 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 5.35% p.a. 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.

Offer: If you open your BankSA Maxi Saver account digitally, then you might qualify for an additional 0.10% p.a. on top of your introductory savings rate (T&Cs apply). 

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 account-keeping 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 5.35% p.a. interest rate for the first three months. At the end of the introductory period the interest rate will revert to 1.10% p.a. 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 25 June 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: 1.10% p.a.

Balances from $0: 5.35% p.a.

Bonus rate for the first 3 months from account opening. Including a 0.35% bonus for new accounts opened online.

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

n/a

no

no

no

yes

no

yes

yes

no

no

Must link to a transaction account with this provider

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

none

Customer Reviews

How are BankSA savings accounts rated by the Mozo community?

Overall
7.6/10
Price
6.8/10
Features
6.3/10
Customer service
7.7/10
Convenience
8.0/10
Trust
7.8/10
Based on 569 BankSA 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 BankSA Maxi Saver Savings Account

About BankSA

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Rabobank

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5.75% p.a. (for $0 to $250,001)

4.40% p.a.(for $0 to $250,001)

Yes up to $250,000

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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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5.45% p.a. (for $0 to $250,001)

1.50% p.a.(for $0 and over)

Yes up to $250,000

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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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5.25% p.a. (for $0 to $1,000,000)

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

Yes up to $250,000

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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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Savings+Bonus

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

2.00% p.a.(for $0 to $250,000)

Yes up to $250,000

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ING

Savings Accelerator

3.35% 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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High Interest Savings Account

5.75% p.a. (for $0 to $250,001)

Yes up to $250,000

4.40% p.a.(for $0 to $250,001)

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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)

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IMB Bank

Reward Saver Account

5.25% p.a. (for $0 to $1,000,000)

Yes up to $250,000

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

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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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Rabobank

PremiumSaver

5.45% p.a. (for $0 to $250,001)

Yes up to $250,000

1.50% p.a.(for $0 and over)

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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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First Option Bank

Savings+Bonus

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

Yes up to $250,000

2.00% p.a.(for $0 to $250,000)

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ING

Savings Accelerator

3.35% p.a. (for $0 to $50,000)

Yes up to $250,000

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

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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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IMB Bank

Reward Saver Account

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

5.25% p.a. (for $0 to $1,000,000)

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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Notice Saver

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

4.90% p.a. (for $0 to $250,001)

Yes up to $250,000

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First Option Bank

Kids Bonus Saver

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

0.85% p.a. (for $5,556 to $50,001)

Yes up to $250,000

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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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