MyState Bank logo Mozo experts choice 2020

MyState Bank Bonus Saver Account

Advertiser disclosure
Interest rate
0.10% p.a.(for $0 and over)
Maximum rate
1.20% p.a. (for $0 to $250,000)
Govt deposit guarantee
Yes up to $250,000
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Mozo editorial review MyState Bank Bonus Saver Account

Last updated: 15 January 2021.

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What's hot
  • 2020 Mozo Experts Choice Award winner
  • 1.20% maximum rate
  • No account fee
What's not
  • Must link to transaction account
Mozo snapshot

If you’re a saver who wants to be rewarded for your saving habits, look no further than the MyState Bank Bonus Saver Account - winner of a 2020 Mozo Experts Choice Award in the best Regular Saver category. This savings account features a special 1.20% p.a. rate - all you need to do to get it is deposit at least $20 every month and make five debit transactions, easy as!

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Key features

With the MyState Bank Bonus Saver Account your savings habits will be rewarded, thanks to the special 1.20% rate, which you’ll receive on a monthly basis. You also won’t ever pay a cent in account fees, so every dollar you stash into the account is yours to keep. 

But like most savings accounts there are some conditions attached to earn that special rate. Luckily, the MyState Bank Bonus Saver Account only requires savers to deposit a minimum of $20 into the account every month and make five debit card transactions. 

And while you'll be able to make unlimited transactions every month through your phone or the internet keep in mind you will need a linked MyState Bank transaction account.  

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Who is it good for

The MyState Bank Bonus Saver Account could be the right choice for Aussie savers who make regular deposits and want to take advantage of a decent rate without the hassle. 

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Any catches

In order to sign up to the MyState Bank Bonus Saver Account, you will need to link it to a MyState Bank transaction account.

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: 0.10% p.a.

  • Balances from $0: 1.20% p.a.
    Balances from $250,000: 0.10% p.a.

  • Bonus rate when at least $20 is deposited each month and five Visa Debit transactions are made each month using linked Everyday or Glide transaction accounts.

Fees
  • $0.00

  • n/a

  • Unlimited transactions from phone and internet

  • n/a

  • n/a

  • n/a

  • n/a

  • $2.75

  • n/a

  • $0.00

  • $0.00

  • n/a

Other financial bits
  • $1.00

  • $0.00

  • Monthly

Features
  • no

  • none

  • no

  • no

  • no

  • no

  • no

  • yes

  • yes

  • yes

  • no

  • Must link to a transaction account

  • none

  • none

Customer Reviews

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

Overall
7.7/10
Price
6.5/10
Features
6.0/10
Customer service
8.0/10
Convenience
7.8/10
Trust
8.0/10

Latest reviews of MyState Bank Bonus Saver Account

  • Overall 10/10
    Great!

    They are helpful, polite, ready to explain anything you want to know about and taught me about internet banking which is so convenient when you don’t drive.

    Read full review

    They are helpful, polite, ready to explain anything you want to know about and taught me about internet banking which is so convenient when you don’t drive.

    Price
    9/10
    Features
    9/10
    Customer service
    10/10
    Convenience
    9/10
    Trust
    10/10
    Less
    Elsa, Queensland reviewed 13 days ago
  • Overall 1/10
    Dropping %%%

    Got an email today staying they're dropping the rate of the bonus saver account again. Last year max bonus was 2.4-2.6% and as of October 1, it's 1.5% p.a. UBank have a lot better rates and if you're 18-29 Westpac have a big 3%. I joined Westpac 3 days ago and I'm glad I did!

    Read full review

    Got an email today staying they're dropping the rate of the bonus saver account again. Last year max bonus was 2.4-2.6% and as of October 1, it's 1.5% p.a. UBank have a lot better rates and if you're 18-29 Westpac have a big 3%. I joined Westpac 3 days ago and I'm glad I did!

    Price
    1/10
    Features
    1/10
    Customer service
    10/10
    Convenience
    1/10
    Trust
    3/10
    Less
    Martin, Tasmania reviewed 3 months ago
  • Overall 10/10
    Good bonus rate and simple app

    Good bonus rate and simple app!

    Read full review

    Good bonus rate and simple app!

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Darcy, New South Wales reviewed 4 months ago
  • Overall 9/10
    Please support because they support us!

    Good product when linked to Glide Transaction Account. Worth supporting because they recognise the need to to reward customers with a much better interest rates. Well done guys, thank you.

    Read full review

    Good product when linked to Glide Transaction Account. Worth supporting because they recognise the need to to reward customers with a much better interest rates. Well done guys, thank you.

    Price
    -1/10
    Features
    7/10
    Customer service
    9/10
    Convenience
    7/10
    Trust
    9/10
    Less
    Chris, New South Wales reviewed about 1 year ago
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About MyState Bank

MyState Bank is an Authorised Deposit-taking Institution and a national diversified financial services group headquartered in Tasmania. MyState Bank has strong roots in the Tasmanian community, offering lending, savings accounts, financial planning and insurance.

See MyState Bank savings accounts

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MyState Bank

Bonus Saver Account

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

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

Yes up to $250,000

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HSBC

Serious Saver

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

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

Yes up to $250,000

Thumbnail icon for Up

Up

Saver Account

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

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

Yes up to $250,000

Thumbnail icon for HSBC

HSBC

Flexi Saver

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

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

Yes up to $250,000

Thumbnail icon for Citi

Citi

Online Saver

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

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

Yes up to $250,000

Thumbnail icon for Bank of Queensland

Bank of Queensland

Fast Track Saver Account

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

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

Yes up to $250,000

Thumbnail icon for MyState Bank

MyState Bank

Bonus Saver Account

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

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

Yes up to $250,000

Thumbnail icon for HSBC

HSBC

Serious Saver

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

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

Yes up to $250,000

Thumbnail icon for Up

Up

Saver Account

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

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

Yes up to $250,000

Thumbnail icon for HSBC

HSBC

Flexi Saver

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

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

Yes up to $250,000

Thumbnail icon for Citi

Citi

Online Saver

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

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

Yes up to $250,000

Thumbnail icon for Bank of Queensland

Bank of Queensland

Fast Track Saver Account

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

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

Yes up to $250,000

Thumbnail icon for Suncorp

Suncorp

Everyday Options Sub-account

No Current Offer

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

Yes up to $250,000

Thumbnail icon for HSBC

HSBC

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

Thumbnail icon for Up

Up

Saver Account

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

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

Yes up to $250,000

Thumbnail icon for HSBC

HSBC

Flexi Saver

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

Thumbnail icon for Bank of Queensland

Bank of Queensland

Fast Track Saver Account

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

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

Yes up to $250,000

Thumbnail icon for Suncorp

Suncorp

Everyday Options Sub-account

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

No Current Offer

Yes up to $250,000

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ANZ

Progress Saver

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

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

Yes up to $250,000

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Newcastle Permanent

Smart Saver

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

1.55% p.a. (for $0 and over)

Yes up to $250,000

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Auswide Bank

Ziggy Kids Saver

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

2.01% p.a. (for $0 and over)

Yes up to $250,000