Great Southern Bank logo
Mini meca 2024

Great Southern Bank Home Saver

Advertiser disclosure
Interest rate
0.50% 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 Great Southern Bank Home Saver - last updated: 26 March 2024

binocular icon
What's hot
  • Competitive 5.25% p.a. bonus interest rate
  • No ongoing account or ATM fees
What's not
  • Low base rate of 0.50% p.a.
Mozo snapshot

If you’re on the hunt for a simple savings account that could help you earn a solid return on your nest egg, then the Home Saver from Great Southern Bank Home Saver could be the ticket. With no account keeping fees, no withdrawal limits and no requirements to grow your savings balance to earn bonus interest, this option from Great Southern Bank could be ideal if you struggle with managing more hands-on savings criteria.

key icon
Key features

This account is taking some of the more challenging steps out of saving. You will need to make 5 debit card transactions via a linked Great Southern Bank Everyday Snap Account and deposit $2,000 (such as your salary) into that account each month to qualify for the solid 5.25% p.a. interest rate. But that’s it.

Unlike some other savings accounts, you aren’t required to grow your savings balance or make regular deposits to earn interest, and you can dip into the funds if you need to. 

If you meet the monthly interest-earning conditions, you won’t find any account keeping fees or chargers for making phone or internet transactions, or any ATM fees – the same goes for the linked transaction account. Just remember, if you can’t meet the criteria for a month the rate reverts to a low 0.50%.

snapshot
Who is it good for

Anyone who wants to earn a solid savings rate with minimal effort. All you need to do to earn bonus interest is make 5 eligible purchases via the linked transaction account and deposit $2,000 (such as your salary) into that spending account each month.

question icon
Any catches

While 5.25% is a pretty decent savings rate in the current climate, the base rate is a low 0.50%. So, if you can’t guarantee that regular monthly income or spending schedule, you may miss out on further savings.

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: 0.50% p.a.

Balances from $0: 5.25% p.a.
Balances from $100,000: 0.50% p.a.

Deposit $2,000 by electronic transfer into your Everyday Edge Account and make 5 purchases with your Visa debit card each month.

Fees

$0.00

n/a

Unlimited free transactions from phone and internet.

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

yes

no

yes

yes

yes

no

none

none

none

Customer Reviews

How are Great Southern Bank savings accounts rated by the Mozo community?

Overall
8.0/10
Price
7.7/10
Features
7.0/10
Customer service
8.2/10
Convenience
7.6/10
Trust
8.3/10
Based on 645 Great Southern 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 Great Southern Bank Home Saver Savings Account

About Great Southern 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 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 ING
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

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 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 ING
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)

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