Interest rate
0.65% p.a.(for $1 and over)
Maximum rate
1.30% p.a. (for $1 to $100,000)
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review Heritage Bank Online Saver

Last updated: 24 November 2020.

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What's hot
  • Mozo Experts Choice Award winner 2020
  • Up to 1.30% maximum interest rate - 4 months
  • 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 account comes with an introductory interest rate of 1.30% for four months (balances up to $100,000) and an ongoing rate of 0.65% after. 

Need more convincing? The account was named a 2020 Mozo Experts Choice Award winner in the best Kick Start Savings category.

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Key features

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

The account comes with a 1.30% introductory bonus interest rate on balances up to $100,000 for the first 4 months, an an ongoing standard interest rate of 0.65%. 

To qualify for the introductory rate you'll need to be a new customer and link your new Online Saver Account to an eligible Heritage Bank transaction account. 

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

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Who is it 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 for a short-term interest boost, or have a large chunk of money to put away.

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Any catches

The maximum 1.30% introductory rate for four months is only available on balances up to $100,000. 

Details

Rates and fees information correct as at 20 January 2021. 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: 0.65% p.a.

  • Balances from $1: 1.30% p.a.
    Balances from $100,000: 0.65% p.a.

  • Introductory Bonus Rate for new customers with a linked eligible Heritage Bank transaction 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
8.5/10
Price
7.8/10
Features
7.3/10
Customer service
8.8/10
Convenience
8.2/10
Trust
8.6/10

Latest reviews of Heritage Bank Online Saver

  • Overall 10/10
    Awesome!

    Glad I made the switch.

    Read full review

    Glad I made the switch.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Alexander, Victoria reviewed 4 months ago
  • 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 over 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 almost 5 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 almost 5 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 almost 5 years ago
Thumbnail icon for 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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0.05% p.a.(for $1 and over)

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

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0.05% p.a.(for $0 and over)

Yes up to $250,000

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Yes up to $250,000

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1.10% p.a. (for $0 to $500,000)

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1.05% p.a. (for $1 to $250,000)

0.05% p.a.(for $1 and over)

Yes up to $250,000

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0.05% p.a.(for $0 and over)

Yes up to $250,000

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

1.20% p.a. (for $0 to $250,000)

Yes up to $250,000

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Serious Saver

0.05% p.a.(for $0 and over)

0.90% p.a. (for $0 to $1,000,000)

Yes up to $250,000

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1.10% p.a. (for $0 to $1,000,000)

Yes up to $250,000

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0.05% p.a.(for $0 to $5,000,000)

0.85% p.a. (for $0 to $5,000,000)

Yes up to $250,000

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0.35% p.a.(for $0 and over)

1.10% p.a. (for $0 to $500,000)

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0.05% p.a.(for $1 and over)

1.05% p.a. (for $1 to $250,000)

Yes up to $250,000

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0.05% p.a.(for $0 and over)

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Yes up to $250,000

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

0.50% p.a. (for $0 and over)

Yes up to $250,000