Heritage Bank Online Saver

0.80% p.a.(for $1 to $250,000)

2.20% p.a. (for $1 to $100,000)

Heritage Bank Online Saver

0.80% p.a.(for $1 to $250,000)

2.20% p.a. (for $1 to $100,000)

Mozo Review   Heritage Bank Online Saver Review

Last updated: 3 April 2020.

What's hot:
  • Mozo Experts Choice Award winner 2020

  • Up to 2.20% p.a. maximum interest rate

  • No account keeping or transaction fees

What's not:
  • No branch access - online only

Mozo snapshot:

The Heritage Bank Online Saver Account is all about banking convenience, providing easy access to your money through unlimited online and phone deposits. The maximum interest on balances under $100,000 is 2.20% p.a. (paid monthly), and with no monthly or transaction fees, you’ll be well on your way to reaching your savings goals in no time!

The account was named a 2020 Mozo Experts Choice Award winner in the best Kick Start Savings category, as well as multiple 2019 Mozo People’s Choice Awards in the Outstanding Customer Satisfaction, Excellent Customer Service, Highly Trusted, Staff Friendliness and Most Recommended awards categories.

Key features:

Searching for an easy-access online savings account? Then look no further than the Heritage Bank Online Saver Account! The competitive interest rates, lack of strenuous ongoing requirements and online and flexible phone banking options make this a great set and forget option for savers.

The account comes with a tiered interest rate system, with higher balances earning higher base interest rates. You can earn:

• 2.20% p.a. introductory bonus interest rate on balances up to $100,000 for the first 4 months: This includes a 0.80% p.a. base rate, plus, a bonus introductory rate of 1.40% p.a. To qualify for the introductory rate, you'll need to be a new customer and link your new Online Saver Account to an eligible transaction account. After the first 4 months, your rate will go back down to the standard interest rate of 0.80% p.a.

• 0.90% p.a. standard interest on balances over $250,000.

Because it’s an online account, the Heritage Online Saver must link to a transaction account or banking product in order to move your money in and out of your account. The account can only be accessed through the internet and phone banking, which has been made an easy process with the Heritage Bank App which gives customers full access to their account to check their balance and make electronic transactions.

Savers aren't charged any regular account keeping fees, however, there is a minimum ongoing balance of $1, which must be maintained in the account for it to stay active

Who it's good for:

This account is potentially a great set and forget account option for savers, and is suitable for Aussie savers who want the convenience of an online account without the hassle of having to meet any major ongoing account requirements. The bonus offer makes it a particularly good account option if you're looking to really boost your savings, or have a large chunk of money to put away.

Any catches?

In order to qualify for the highest introductory bonus interest rate, you must be a new customer and be stashing less than $100,000 away. But never fear - if you don't fit into that deposit bracket or you're already a part of the Heritage Bank family, then there are still some good rates on offer.

Details

Rates and fees information correct as at 9 April 2020. 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: 0.00% p.a.
    Balances from $1: 0.80% p.a.
    Balances from $250,000: 0.90% p.a.

  • Balances from $1: 2.20% p.a.
    Balances from $100,000: 0.80% p.a.
    Balances from $250,000: 0.90% p.a.

  • Introductory Bonus Rate for new customers with a linked eligible account for the first 4 months.

Fees
  • $0.00

  • n/a

  • Unlimited free transactions from phone, internet and counter deposits.

  • n/a

  • n/a

  • n/a

  • $0.00

  • n/a

  • n/a

  • $0.00

  • $0.00

  • n/a

Other financial bits
  • $1.00

  • $1.00

  • Monthly

Features
  • no

  • none

  • no

  • no

  • no

  • no

  • no

  • yes

  • yes

  • no

  • no

  • none

  • none

  • none

Customer Reviews

How are Heritage Bank savings accounts rated by the Mozo community?

Overall customer rating
8.5/10
Price
7.7/10
Features
7.3/10
Customer service
8.8/10
Convenience
8.1/10
Trust
8.6/10

Latest reviews of Heritage Bank Online Saver

  • Overall 10/10
    Great service and products

    Always attentive

    Read full review

    Always attentive

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Nola, Queensland reviewed almost 4 years ago
  • Overall 10/10
    Great services.

    Great service and communication and always lovely ladies at the counter and always wanting to help.

    Read full review

    Great service and communication and always lovely ladies at the counter and always wanting to help.

    Price
    7/10
    Features
    8/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Cathy, Queensland reviewed about 4 years ago
  • Overall 10/10
    Great bank

    Great bank will never change

    Read full review

    Great bank will never change

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Daniella, Queensland reviewed about 4 years ago
  • Overall 9/10
    Always helpful

    Wonderful bank

    Read full review

    Wonderful bank

    Price
    8/10
    Features
    9/10
    Customer service
    8/10
    Convenience
    8/10
    Trust
    9/10
    Less
    Melissa, Queensland reviewed about 4 years ago
  • Overall 9/10
    Heritage are great

    Heritage staff are friendly, efficient and always helpful. I have no hesitation in recommending them to anyone. If there is a negative it is only the number of branches which is improving slowly.

    Read full review

    Heritage staff are friendly, efficient and always helpful. I have no hesitation in recommending them to anyone. If there is a negative it is only the number of branches which is improving slowly.

    Price
    9/10
    Features
    9/10
    Customer service
    10/10
    Convenience
    7/10
    Trust
    10/10
    Less
    C.bosher, Queensland reviewed about 4 years ago
Heritage Bank

About Heritage Bank

Heritage is Australia's largest member-owned bank. With a history going back to 1875, Heritage helps Australians realise their financial dreams. Heritage focuses on putting people first, not pursuing massive profits. They offer customers a full range of competitive personal banking products from home loans, saving accounts, term deposits, credit cards and much more.

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