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.
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%.
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.
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.
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Balances from $0: 0.50% p.a. |
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Balances from $0: 5.25% p.a. |
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Deposit $2,000 by electronic transfer into your Everyday Edge Account and make 5 purchases with your Visa debit card each month. |
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$0.00 |
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n/a |
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Unlimited free transactions from phone and internet. |
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n/a |
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n/a |
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n/a |
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$0.00 |
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n/a |
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n/a |
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$0.00 |
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$0.00 |
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n/a |
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$1.00 |
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$0.00 |
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Monthly |
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no |
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n/a |
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no |
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no |
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no |
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yes |
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no |
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yes |
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yes |
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yes |
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no |
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none |
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none |
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none |
Good service good advise
Read full reviewGood service good advise
Switched from one of the big 4 banks to GSB and it was worth it.
Read full reviewSwitched from one of the big 4 banks to GSB and it was worth it.
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
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
AMP Saver Account
5.40% p.a. (for $0 to $250,000)
1.20% p.a.(for $0 to $5,000,000)
Yes up to $250,000
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
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
Save Account
5.10% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
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
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)
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)
Save Account
5.10% p.a. (for $0 to $250,000)
Yes up to $250,000
0.10% p.a.(for $0 and over)
AMP Saver Account
5.40% p.a. (for $0 to $250,000)
Yes up to $250,000
1.20% p.a.(for $0 to $5,000,000)
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)
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)
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)
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
Save Account
0.10% p.a.(for $0 and over)
5.10% p.a. (for $0 to $250,000)
Yes up to $250,000
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
Reward Saver
0.30% p.a.(for $0 and over)
5.25% p.a. (for $0 to $100,000)
Yes up to $250,000
Ziggy Kids Saver
0.01% p.a.(for $0 and over)
3.01% p.a. (for $0 and over)
Yes up to $250,000
Progress Saver
0.01% p.a.(for $0 and over)
4.25% p.a. (for $0 and over)
Yes up to $250,000
