MyState Bank Special eSaver Account

1.00% p.a.(for $0 to $50,000)

No Current Offer

 

MyState Bank Special eSaver Account Review

Rates and fees information correct as at 16 December 2018.

Review published: 22 June 2017

What's hot:

  • Earn a special 2.40% interest rate (on balances over $50,000)

  • No account fee

  • Unlimited free online and phone transactions

What's not:

  • No ATM or branch access

Mozo snapshot:

The MyState Bank Special eSaver account may not offer the highest rates for low balances, but if you’ve got over $50k to squirrel away then this could be the account for you, as you’ll be rewarded with a competitive 2.40% interest rate. Adding to that, unlike other high interest savings accounts that have strict withdrawal criterias in order to earn that high rate, with the eSaver account you can dip into your savings whenever you please without your rate being affected.

Key features:

The MyState Bank Special eSaver account is an exclusively online savings account designed to help you plump up your savings in no time by earning you 2.40% p.a on balances over $50,000. For balances between $5,000 and $49,999 the rate you’ll receive will be 1.50% and for balances under $4,999 it drops to 1.00%.

Although there is no branch or ATM access, you can still make unlimited transactions via the phone or internet/Bpay banking and check your account balances at any time. There are also no extra fees associated with the account and just a $1.00 minimum opening deposit with interest paid on a quarterly basis.

Who it's good for:

The MyState Bank Special eSaver account is perfect for Aussies with over $50k to put away, looking for a high interest savings account that lets you withdraw money whenever you need it without affecting the interest you earn.

 

Any catches?

The interest rate of 2.40% p.a. is only applicable on balances over $50,000, which means that for balances under this you’ll be looking at pretty standard rates between 1.00%-1.50% p.a.

The Mozo community has not yet rated MyState Bank for this savings account.

Rates

  • Balances from $0: 1.00% p.a.
    Balances from $50,000: 2.20% p.a.

  • none

  • n/a

Fees

  • $0.00

  • none

  • Unlimited transactions from phone and internet

  • none

  • none

  • none

  • none

  • none

  • none

  • $0.00

  • $0.00

  • none

Other financial bits

  • $1.00

  • $0.00

  • Monthly

Features

  • no

  • none

  • no

  • no

  • no

  • no

  • no

  • yes

  • yes

  • yes

  • no

  • none

  • none

  • none

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.

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