The CUA eSaver Reward savings account has a standard interest rate of 0.05% p.a., but if you deposit a minimum of $1,000 per month into your account from an external source (like your salary), and currently hold a CUA Transaction Account, you will be eligible to receive a competitive ongoing bonus rate of up to 2.70% p.a.
The CUA eSaver Reward savings account also gives you the freedom to make transactions (via phone and internet) to and from your account as you please without the fear of hidden fees.
This account even allows you to set up automatic transfers from your CUA Transaction Account to your CUA eSaver Reward account, meaning that you can sit back and watch your savings grow without having to lift a finger. Like most savings accounts, there’s no debit/EFTPOS card or ATM access, so make sure you set up a linked transaction account if you’re after these features.
Who it's good for:
The CUA eSaver Reward account is great for anyone wanting to grow their savings, and it’s especially rewarding for Aussies who are able to meet the bonus interest requirements by depositing $1,000 per month.
To use this account effectively and ensure you earn that 2.70% p.a. bonus interest, you’ll need to have a CUA everyday account and be able to meet the requirement of depositing a minimum of $1,000 into your account per month. You should think carefully about whether or not you'll be able to meet these requirements before opening an account.