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 2022 Mozo Experts Choice Award in the Regular Saver category. This savings account features a special 1.60% p.a. rate which you'll be able to secure with relatively simple requirements: a minimum deposit of $20 every month and at least five debit transactions.
With the MyState Bank Bonus Saver Account your savings habits will be rewarded, thanks to the special 1.60% 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.
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.
In order to sign up to the MyState Bank Bonus Saver Account, you will need to link it to a MyState Bank transaction account.
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Balances from $0: 0.05% p.a. |
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Balances from $0: 1.60% p.a. |
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Bonus rate when at least $20 is deposited each month and five Visa Debit transactions are made each month using linked Glide transaction account. |
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$0.00 |
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n/a |
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Unlimited transactions from phone and internet |
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n/a |
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n/a |
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n/a |
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n/a |
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$0.00 |
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n/a |
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$0.00 |
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$0.00 |
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n/a |
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$1.00 |
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$0.00 |
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Monthly |
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no |
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none |
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no |
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no |
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no |
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no |
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no |
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yes |
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yes |
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no |
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no |
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Must link to a transaction account |
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none |
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none |
For some reason, MyState Bank no longer messages you to say bonus interest in unlocked for the month. Each month I complain, and each month I get the same generic excuse that " we have a known issue with the system at the moment". This known issue has been going on for almost a year now. I'll be taking this up with the banking ombudsman.
Read full reviewFor some reason, MyState Bank no longer messages you to say bonus interest in unlocked for the month. Each month I complain, and each month I get the same generic excuse that " we have a known issue with the system at the moment". This known issue has been going on for almost a year now. I'll be taking this up with the banking ombudsman.
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 reviewThey 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.
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 reviewGot 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!
Good bonus rate and simple app!
Read full reviewGood bonus rate and simple app!
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 reviewGood 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.
Bank of Queensland
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3.00% p.a. (for $0 to $50,001)
0.05% p.a.(for $0 and over)
Yes up to $250,000
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1.35% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 to $5,000,000)
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Rabobank
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2.10% p.a. (for $0 to $250,001)
1.00% p.a.(for $0 to $250,001)
Yes up to $250,000
MyState Bank
Bonus Saver Account
1.60% p.a. (for $0 to $250,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Bank of Queensland
Smart Saver Account
2.00% p.a. (for $0 to $250,001)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Great Southern Bank
Youth eSaver
No Current Offer
3.25% p.a.(for $0 to $5,001)
Yes up to $250,000
Bank of Queensland
Future Saver Account
3.00% p.a. (for $0 to $50,001)
0.05% p.a.(for $0 and over)
Yes up to $250,000
AMP Bank
AMP Saver Account
1.35% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 to $5,000,000)
Yes up to $250,000
Rabobank
High Interest Savings Account
2.10% p.a. (for $0 to $250,001)
1.00% p.a.(for $0 to $250,001)
Yes up to $250,000
Great Southern Bank
Youth eSaver
No Current Offer
3.25% p.a.(for $0 to $5,001)
Yes up to $250,000
Bank of Queensland
Smart Saver Account
2.00% p.a. (for $0 to $250,001)
0.05% p.a.(for $0 and over)
Yes up to $250,000
MyState Bank
Bonus Saver Account
1.60% p.a. (for $0 to $250,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Auswide Bank
Ziggy Kids Saver
0.01% p.a.(for $0 and over)
1.26% p.a. (for $0 and over)
Yes up to $250,000
ANZ
Progress Saver
0.01% p.a.(for $0 and over)
0.40% p.a. (for $0 and over)
Yes up to $250,000