Easy Street Bonus Saver

Mozo snapshot:

With a competitive bonus interest rate and zero account fees, the Easy Street Bonus Saver is an excellent way to kick start your savings. It offers a 2.55% p.a. total bonus rate, as long as you meet the minimum deposit requirements and don’t make any withdrawals in the month. Recurring payments can also be set up to help keep you on track with your savings goals.

Key features:

If you need a bit of a nudge when it comes to saving, the Easy Street Bonus Saver could be a great pick. As long as you’re able to deposit at least $50 in a month and avoid making any withdrawals, you’ll be rewarded with a 2.55% p.a. interest rate. Fall short of these requirements, however, and that rate drops to 0.01% p.a., giving you plenty of incentive to save instead of spend.

There's also the option to set up an automatic savings plan. Just nominate an account like the linked transaction account and specify how much you’d like transferred into your Easy Street Bonus Saver each month and you’ll be this much closer to meeting your savings goals.

There are no account fees whatsoever and your funds are easily accessible via online banking. Interest is calculated daily and paid out monthly, and if you meet the requirements for the bonus rate, it’ll be added to the following month’s balance.

Who it's good for:

The Easy Street Bonus Saver would benefit dedicated savers and anyone looking to become one, as the bonus rate provides some serious motivation to get on top of your saving habits.