Bendigo Bank logo
Mini meca 2024

Bendigo Bank Reward Saver

Advertiser disclosure
Interest rate
0.30% p.a.(for $0 and over)
Maximum rate
5.25% p.a. (for $0 to $100,000)
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review Bendigo Bank Reward Saver - last updated: 11 April 2024

binocular icon
What's hot
  • 5.25% p.a. bonus interest rate
  • Automatic transfer between transaction and savings accounts
What's not
  • Balances over $100,000 receive only the base rate
Mozo snapshot

Looking to get a high interest rate savings account? Bendigo Bank’s Reward Saver account offers a bonus interest rate of 5.25% p.a. as long as you’ve got an eligible transaction account and grow your balance. If you’re a new customer, you can choose to apply online or you can visit a branch to open up an account.

key icon
Key features

The Bendigo Bank Reward Saver account comes with a number of handy features such as online e-banking from the Bendigo Bank app. This can let you do automatic transfers so you can keep growing your balance without raising a finger. 


But automatic transfers aren’t just convenient. Since Bendigo Banks Reward Saver is a bonus rate savings account, you will have to fulfil some extra conditions to get the full bonus rate. This condition requires that you close the month with a higher balance than the previous one in addition to the interest paid by Bendigo Bank. You can also make withdrawals, but you need to make sure that you end with a higher balance and make at least one deposit a month. 


If you can’t meet these conditions, you’ll revert to a lower base rate of only 0.30% p.a. And that isn’t the only reason you might get lower interest, because balances over $100,000 will receive this rate too.

snapshot
Who is it good for

If you’re a saver looking for a savings account with a high interest rate, then Bendigo Bank’s Reward Saver may be a good choice.

question icon
Any catches

Base rate applies for balances over $100,000, so if you’ve got a large chunk of cash, this could be a deal breaker.

Details

Rates and fees information correct as at 15 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: 0.30% p.a.

Balances from $0: 5.25% p.a.
Balances from $100,000: 0.30% p.a.

Grow your balance (in addition to interest paid by Bendigo Bank) each month and must have linked Bendigo Everyday or Student Account to be eligible.

Fees

$0.00

n/a

Unlimited free transactions from phone and internet banking.

n/a

n/a

n/a

$0.00

n/a

n/a

$0.00

$0.00

n/a

Other financial bits

$1.00

$0.00

Monthly

Features

no

n/a

no

no

no

no

no

yes

yes

yes

no

Branch access available for deposits only.

none

none

Customer Reviews

How are Bendigo Bank savings accounts rated by the Mozo community?

Overall
8.2/10
Price
7.2/10
Features
6.8/10
Customer service
8.5/10
Convenience
8.0/10
Trust
8.4/10
Based on 2357 Bendigo Bank 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 Bendigo Bank Reward Saver Savings Account

About Bendigo Bank

Thumbnail icon for Rabobank
Rabobank

High Interest Savings Account

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

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

Yes up to $250,000

Thumbnail icon for Macquarie
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

Thumbnail icon for ubank
ubank

Save Account

5.10% p.a. (for $0 to $250,000)

0.10% p.a.(for $0 and over)

Yes up to $250,000

Thumbnail icon for Rabobank
Rabobank

PremiumSaver

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

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

Yes up to $250,000

Thumbnail icon for ING
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

Thumbnail icon for IMB Bank
IMB Bank

Reward Saver Account

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

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

Yes up to $250,000

Thumbnail icon for MyState Bank
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

Thumbnail icon for First Option Bank
First Option Bank

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

Thumbnail icon for Rabobank
Rabobank

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)

Thumbnail icon for Macquarie
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 ubank
ubank

Save Account

5.10% p.a. (for $0 to $250,000)

Yes up to $250,000

0.10% p.a.(for $0 and over)

Thumbnail icon for IMB Bank
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)

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)

Thumbnail icon for Rabobank
Rabobank

PremiumSaver

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

Yes up to $250,000

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

Thumbnail icon for MyState Bank
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)

Thumbnail icon for First Option Bank
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)

Thumbnail icon for ubank
ubank

Save Account

0.10% p.a.(for $0 and over)

5.10% p.a. (for $0 to $250,000)

Yes up to $250,000

Thumbnail icon for IMB Bank
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

Thumbnail icon for MyState Bank
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

Thumbnail icon for Rabobank
Rabobank

Notice Saver

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

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

Yes up to $250,000

Thumbnail icon for First Option Bank
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

Thumbnail icon for Auswide Bank
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

Thumbnail icon for ANZ
ANZ

Progress Saver

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

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

Yes up to $250,000

Compare other savings accounts