Interest rate
0.10% p.a.(for $0 and over)
Maximum rate
2.65% p.a. (for $0 to $50,000)
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review Great Southern Bank Goal Saver - last updated: 12 August 2022

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What's hot
  • 2.65% p.a. maximum rate
  • No account keeping fees
What's not
  • Maximum age 24
Mozo snapshot

For those aged 18-24, the Goal Saver Account from Great Southern Bank offers a competitive interest rate to help you reach your savings goals. The base interest rate is 0.10% p.a., but if you deposit at least $500 into an attached Everyday Edge Account and make five or more card transactions in a month, the interest you receive will jump up to 2.65% p.a.

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Key features

Young Australians looking to grow their savings will appreciate Great Southern Bank’s Goal Saver Account, which offers competitive bonus rates to those between the ages of 18 and 24. When you sign up, you’ll be able to open an Everyday Edge Account, which is required to receive the bonus interest rate. So long as you deposit at least $500 into your Everyday Edge Account from a non-Great Southern Bank account and make at least five settled card transactions each month, you’ll be able to qualify for a maximum rate of 2.65% p.a.

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Who is it good for

The Great Southern Bank Goal Saver Account is only available to those between the ages of 18 and 24. When you turn 25, the account will convert to a Home Saver account.

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Any catches

If you’re not already a member of Great Southern Bank, signing up will require you to provide an email address, mobile number, and one form of ID (e.g. driver’s licence, passport or Medicare card). The account is only available to Australian residents aged between 18 and 24.

Details

Rates and fees information correct as at 14 August 2022. 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: 0.10% p.a.

Balances from $0: 2.65% p.a.
Balances from $50,000: 0.10% p.a.

Deposit $500 by electronic transfer (excluding telegraphic transfers) into your Everyday Edge Account and make 5 card transactions per month.

Fees

$0.00

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Unlimited free transactions from phone and internet.

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$0.00

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$0.00

$0.00

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Other financial bits

$0.00

$0.00

Monthly

Features

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no

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Minimum age 18, maximum age 24. Converts to a Home Saver account when customer turns 25.

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About Great Southern Bank