Thumbnail icon for MOVE Bank

MOVE Bank Bonus Saver

Interest rate
0.40% p.a.(for $0 and over)
Maximum rate
1.60% p.a. (for $0 to $250,000)

Mozo editorial review MOVE Bank Bonus Saver

Last updated: 1 July 2020.

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What's hot
  • 1.60% p.a. maximum interest rate
  • 2020 Mozo Experts Choice Award
  • No monthly fees
What's not
  • Bonus interest on balances up to $250,000 only
Mozo snapshot

Finding yourself constantly dipping into your savings? The 2020 Mozo Experts Choice Award winning Move Bank Bonus Saver could be just the account to help you reign in your spending and meet your savings goals for the year. So long as you deposit at least $200 and make no withdrawals in the month, you’ll be looking at a maximum interest rate of 1.60% p.a.

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Key features

If you’re the type that needs a little encouragement when saving money, the Move Bank Bonus Saver could be a good fit. Its standard interest rate sits at 0.40% p.a., but if you can commit to depositing at least $200 a month and refrain from making any withdrawals, you’ll be rewarded with the maximum rate of 1.60% p.a. This puts it among the best value savings accounts in our database, but remember the maximum rate only applies to balances of up to $250,000.

Opening an account is hassle-free and should only take 5-10 minutes. You’ll need to be a permanent Australian resident and to help the process along you should have a few documents handy, such as your driver’s licence, passport and / or Medicare card.

Once you’re set up, your savings will be accessible whenever you want via phone and internet banking. There are no limits to how much you can withdraw each day via ATM, and BPay is available for when it comes time to pay any bills.

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Who is it good for

The Bonus Saver would suit those looking for an account that rewards good savings habits with competitive returns.

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Any catches

As mentioned above, to receive the maximum interest rate, you’ll need to deposit at least $200 a month and make no withdrawals. If you fail to meet these conditions, you’ll only receive 0.40% on your balance.

Details

Rates and fees information correct as at 3 July 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: 0.40% p.a.

  • Balances from $0: 1.60% p.a.
    Balances from $250,000: 0.40% p.a.

  • Minimum deposit of $200 and no withdrawals in the month

Fees
  • $0.00

  • n/a

  • Unlimited phone and internet transactions

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • $0.00

  • $0.00

  • n/a

Other financial bits
  • $0.00

  • $0.00

  • Monthly

Features
  • no

  • none

  • no

  • no

  • no

  • no

  • no

  • yes

  • yes

  • yes

  • no

  • none

  • none

  • none

Customer Reviews

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

Overall customer rating
9.1/10
Price
8.7/10
Features
6.9/10
Customer service
9.2/10
Convenience
7.8/10
Trust
9.0/10

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2.25% p.a. (for $0 to $250,001)

0.80% p.a.(for $0 to $250,001)

Yesup to $250,000

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Bank of Queensland

Bank of Queensland

Fast Track Saver Account

1.85% p.a. (for $1 to $250,000)

0.20% p.a.(for $1 and over)

Yesup to $250,000

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ME

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Online Savings Account

1.80% p.a. (for $0 to $250,000)

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

Yesup to $250,000

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Serious Saver

2.10% p.a. (for $0 to $1,000,000)

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

Yesup to $250,000

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2.05% p.a. (for $0 to $500,000)

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

Yesup to $250,000

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Rabobank

Rabobank

High Interest Savings Account

2.25% p.a. (for $0 to $250,001)

0.80% p.a.(for $0 to $250,001)

Yesup to $250,000

Promoted

Bank of Queensland

Bank of Queensland

Fast Track Saver Account

1.85% p.a. (for $1 to $250,000)

0.20% p.a.(for $1 and over)

Yesup to $250,000

Promoted

ME

ME

Online Savings Account

1.80% p.a. (for $0 to $250,000)

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

Yesup to $250,000

Promoted

HSBC

HSBC

Flexi Saver

1.25% p.a. (for $0 to $5,000,000)

0.01% p.a.(for $0 to $5,000,000)

Yesup to $250,000

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HSBC

HSBC

Serious Saver

2.10% p.a. (for $0 to $1,000,000)

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

Yesup to $250,000

Promoted

Citi

Citi

Online Saver

2.05% p.a. (for $0 to $500,000)

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

Yesup to $250,000

Promoted

Bank of Queensland

Bank of Queensland

Fast Track Saver Account

0.20% p.a.(for $1 and over)

1.85% p.a. (for $1 to $250,000)

Promoted

ME

ME

Online Savings Account

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

1.80% p.a. (for $0 to $250,000)

Promoted

HSBC

HSBC

Serious Saver

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

2.10% p.a. (for $0 to $1,000,000)

Promoted

Citi

Citi

Online Saver

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

2.05% p.a. (for $0 to $500,000)

Promoted

HSBC

HSBC

Flexi Saver

0.01% p.a.(for $0 to $5,000,000)

1.25% p.a. (for $0 to $5,000,000)

Promoted

Newcastle Permanent

Newcastle Permanent

Smart Saver

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

2.00% p.a. (for $0 and over)

Promoted

ANZ

ANZ

Progress Saver

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

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

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UniBank

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Mighty Saver Account

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

1.65% p.a. (for $0 and over)