Heritage Bank Online Saver

1.10% p.a.(for $1 to $250,000)

2.50% p.a. (for $1 to $250,000)

Heritage Bank Online Saver

1.10% p.a.(for $1 to $250,000)

2.50% p.a. (for $1 to $250,000)

Mozo Review   Heritage Bank Online Saver Review

Last updated: 31 October 2019.

What's hot:
  • No account keeping or transaction fees

  • Up to 2.50% p.a. maximum interest rate

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 $250,000 is 2.50% p.a., and with no monthly or transaction fees you’ll be on the way to reaching your savings goals in no time. Heritage Bank was also named a winner of a 2018 Mozo People’s Choice Award for Outstanding Customer Service.

Key features:

Searching for an easy access, fee-free online savings account? Look no further than the Heritage Bank Online Saver Account! The competitive interest rate, lack of strenuous ongoing requirements and online and phone banking options makes 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:

• 2.50% p.a. interest on balances up to $250,000 for the first 4 months. This includes a 1.10% p.a. base rate, plus at the moment, 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 regular rate of 1.10% p.a..

• 1.20% p.a. 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 internet and phone banking, and this 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 are not charged monthly 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 a great set and forget account option for savers, and is good for anyone who wants the convenience of an online account without the hassle of meeting monthly requirements. The bonus offer means it's particularly good if you're looking for a boost to your savings, or have a large chunk of money to put away.

Any catches?

In order to qualify for the very highest rate, you'll have to be a new customer and have over $250,000 to stash away. But never fear - if you have a lower deposit or you're not new to Heritage Bank, there are still pretty good rates on offer.

Details

Rates and fees information correct as at 14 November 2019. 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: 1.10% p.a.
    Balances from $250,000: 1.20% p.a.

  • Balances from $1: 2.50% p.a.
    Balances from $250,000: 1.20% p.a.

  • Introductory Bonus Rate for new customers with a linked 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

  • Must link to a transaction account

  • 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

    Always attentive

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10

    Nola | Queensland

    reviewed over 3 years ago

  • Overall
    10/10
    Great services.

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

    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

    Cathy | Queensland

    reviewed over 3 years ago

  • Overall
    10/10
    Great bank

    Great bank will never change

    Great bank will never change

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10

    Daniella | Queensland

    reviewed over 3 years ago

  • Overall
    9/10
    Always helpful

    Wonderful bank

    Wonderful bank

    Price
    8/10
    Features
    9/10
    Customer service
    8/10
    Convenience
    8/10
    Trust
    9/10

    Melissa | Queensland

    reviewed over 3 years ago

  • Overall
    9/10
    Heritage are great

    Heritage staff are friendly, efficient and always helpful. I have no hesitation in recommending...

    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

    C.bosher | Queensland

    reviewed almost 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.

See Heritage Bank savings accounts

Promoted

UBank

UBank

USaver with Ultra Transaction Account

2.10% p.a. (for $0 to $200,000)

1.04% p.a.(for $0 to $5,000,000)

$0.00

Promoted

MyState Bank

MyState Bank

Bonus Saver Account

2.25% p.a. (for $0 to $150,000)

0.55% p.a.(for $0 and over)

$0.00

Promoted

Suncorp

Suncorp

Growth Saver Account

1.95% p.a. (for $0 and over)

0.20% p.a.(for $0 and over)

$0.00

Promoted

AMP

AMP

Saver Account

2.36% p.a. (for $0 to $250,000)

1.40% p.a.(for $0 to $5,000,000)

$0.00

Promoted

Rabobank

Rabobank

High Interest Savings Account

2.50% p.a. (for $0 to $250,001)

1.05% p.a.(for $0 to $250,001)

$0.00

Promoted

ANZ

ANZ

Online Saver

1.60% p.a. (for $0 and over)

0.10% p.a.(for $0 and over)

$0.00

Promoted

Citi

Citi

Online Saver

2.30% p.a. (for $0 to $500,000)

0.85% p.a.(for $0 and over)

$0.00

Promoted

CUA

CUA

eSaver Flexi

No Current Offer

1.30% p.a.(for $0 and over)

$0.00

Promoted

UBank

UBank

USaver with Ultra Transaction Account

2.10% p.a. (for $0 to $200,000)

1.04% p.a.(for $0 to $5,000,000)

$0.00

Promoted

AMP

AMP

Saver Account

2.36% p.a. (for $0 to $250,000)

1.40% p.a.(for $0 to $5,000,000)

$0.00

Promoted

MyState Bank

MyState Bank

Bonus Saver Account

2.25% p.a. (for $0 to $150,000)

0.55% p.a.(for $0 and over)

$0.00

Promoted

Suncorp

Suncorp

Growth Saver Account

1.95% p.a. (for $0 and over)

0.20% p.a.(for $0 and over)

$0.00

Promoted

Rabobank

Rabobank

High Interest Savings Account

2.50% p.a. (for $0 to $250,001)

1.05% p.a.(for $0 to $250,001)

$0.00

Promoted

ANZ

ANZ

Online Saver

1.60% p.a. (for $0 and over)

0.10% p.a.(for $0 and over)

$0.00

Promoted

Citi

Citi

Online Saver

2.30% p.a. (for $0 to $500,000)

0.85% p.a.(for $0 and over)

$0.00

Promoted

CUA

CUA

eSaver Flexi

No Current Offer

1.30% p.a.(for $0 and over)

$0.00

Promoted

UBank

UBank

USaver with Ultra Transaction Account

2.10% p.a. (for $0 to $200,000)

1.04% p.a.(for $0 to $5,000,000)

Promoted

MyState Bank

MyState Bank

Bonus Saver Account

2.25% p.a. (for $0 to $150,000)

0.55% p.a.(for $0 and over)

Promoted

AMP

AMP

Saver Account

2.36% p.a. (for $0 to $250,000)

1.40% p.a.(for $0 to $5,000,000)

Promoted

Suncorp

Suncorp

Growth Saver Account

1.95% p.a. (for $0 and over)

0.20% p.a.(for $0 and over)

Promoted

Rabobank

Rabobank

High Interest Savings Account

2.50% p.a. (for $0 to $250,001)

1.05% p.a.(for $0 to $250,001)

Promoted

Citi

Citi

Online Saver

2.30% p.a. (for $0 to $500,000)

0.85% p.a.(for $0 and over)

Promoted

UBank

UBank

USaver with Ultra Transaction Account

1.04% p.a.(for $0 to $5,000,000)

2.10% p.a. (for $0 to $200,000)

Promoted

MyState Bank

MyState Bank

Bonus Saver Account

0.55% p.a.(for $0 and over)

2.25% p.a. (for $0 to $150,000)

Promoted

Suncorp

Suncorp

Growth Saver Account

0.20% p.a.(for $0 and over)

1.95% p.a. (for $0 and over)

Promoted

Rabobank

Rabobank

High Interest Savings Account

1.05% p.a.(for $0 to $250,001)

2.50% p.a. (for $0 to $250,001)

Promoted

ANZ

ANZ

Online Saver

0.10% p.a.(for $0 and over)

1.60% p.a. (for $0 and over)

Promoted

Citi

Citi

Online Saver

0.85% p.a.(for $0 and over)

2.30% p.a. (for $0 to $500,000)

Promoted

ANZ

ANZ

Progress Saver

0.01% p.a.(for $0 and over)

1.60% p.a. (for $0 and over)

Promoted

Newcastle Permanent

Newcastle Permanent

Smart Saver

0% p.a.(for $0 and over)

2.35% p.a. (for $0 and over)