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MyState Bank Special eSaver Account

Advertiser disclosure
Interest rate
0.90% p.a.(for $0 to $25,000)
Maximum rate
No Current Offer
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review MyState Bank Special eSaver Account - last updated: 1 June 2023

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What's hot
  • Earn a special 1.25% interest rate (on balances over $150,000)
  • No account fee
  • Unlimited free online and phone transactions
What's not
  • First $250,000 of deposits are covered by Government Guarantee on Deposits
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 more competitive rates for bigger deposit amounts. Adding to that, unlike other high interest savings accounts that have strict withdrawal criteria 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.

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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. The amount of interest you earn will depend on how much you've got saved up in your account, starting from 0.90% for balances under $25,000, ranging up to a 1.25% rate if you're lucky enough to have $150,000 or more put away.

You can make unlimited transactions via the phone, internet/Bpay banking or at MyState Bank branches 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 monthly basis.

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Who is it good for

The MyState Bank Special eSaver account could be a good pick 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.

 

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Any catches

You'll get the best interest rates on larger deposits - but bear in mind that only the first $250,000 of your deposits with any Authorised Deposit-taking Institution (ADI) are covered by the Government Guarantee on Deposits. It shouldn't pose a major problem, but if you want to be cautious, you might prefer to break up your savings across different savings accounts after you meet this limit.

Details

Rates and fees information correct as at 20 April 2024. 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: 0.90% p.a.
Balances from $25,000: 0.95% p.a.
Balances from $50,000: 1.10% p.a.
Balances from $150,000: 1.25% p.a.
Balances from $250,000: 1.25% p.a.

n/a

n/a

Fees

$0.00

n/a

Unlimited transactions from phone and internet

n/a

n/a

n/a

n/a

$0.00

n/a

$0.00

$0.00

n/a

Other financial bits

$1.00

$0.00

Monthly

Features

no

n/a

no

no

no

yes

no

yes

yes

yes

no

none

none

none

Customer Reviews

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Latest review of MyState Bank Special eSaver Account Savings Account

About MyState Bank

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MyState Bank

Bonus Saver Account

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

5.00% p.a. (for $0 to $250,000)

Yes up to $250,000

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Rabobank

High Interest Savings Account

5.75% p.a. (for $0 to $250,001)

4.40% p.a.(for $0 to $250,001)

Yes up to $250,000

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Macquarie

Savings Account

5.35% p.a. (for $0 to $250,000)

4.75% p.a.(for $0 to $1,000,000)

Yes up to $250,000

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IMB Bank

Reward Saver Account

5.25% p.a. (for $0 to $1,000,000)

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

Yes up to $250,000

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AMP Bank

AMP Saver Account

5.40% p.a. (for $0 to $250,000)

1.20% p.a.(for $0 to $5,000,000)

Yes up to $250,000

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First Option Bank

Savings+Bonus

5.00% p.a. (for $0 to $250,000)

2.00% p.a.(for $0 to $250,000)

Yes up to $250,000

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ubank

Save Account

5.10% p.a. (for $0 to $250,000)

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

Yes up to $250,000

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Unity Bank

MoneyMAX

No Current Offer

4.75% p.a.(for $1 and over)

Yes up to $250,000

Thumbnail icon for MyState Bank
MyState Bank

Bonus Saver Account

5.00% p.a. (for $0 to $250,000)

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

Yes up to $250,000

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Rabobank

High Interest Savings Account

5.75% p.a. (for $0 to $250,001)

Yes up to $250,000

4.40% p.a.(for $0 to $250,001)

Thumbnail icon for Macquarie
Macquarie

Savings Account

5.35% p.a. (for $0 to $250,000)

Yes up to $250,000

4.75% p.a.(for $0 to $1,000,000)

Thumbnail icon for ubank
ubank

Save Account

5.10% p.a. (for $0 to $250,000)

Yes up to $250,000

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

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AMP Bank

AMP Saver Account

5.40% p.a. (for $0 to $250,000)

Yes up to $250,000

1.20% p.a.(for $0 to $5,000,000)

Thumbnail icon for First Option Bank
First Option Bank

Savings+Bonus

5.00% p.a. (for $0 to $250,000)

Yes up to $250,000

2.00% p.a.(for $0 to $250,000)

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IMB Bank

Reward Saver Account

5.25% p.a. (for $0 to $1,000,000)

Yes up to $250,000

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

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Unity Bank

MoneyMAX

No Current Offer

Yes up to $250,000

4.75% p.a.(for $1 and over)

Thumbnail icon for MyState Bank
MyState Bank

Bonus Saver Account

5.00% p.a. (for $0 to $250,000)

Yes up to $250,000

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

Thumbnail icon for IMB Bank
IMB Bank

Reward Saver Account

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

5.25% p.a. (for $0 to $1,000,000)

Yes up to $250,000

Thumbnail icon for ubank
ubank

Save Account

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

5.10% p.a. (for $0 to $250,000)

Yes up to $250,000

Thumbnail icon for MyState Bank
MyState Bank

Bonus Saver Account

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

5.00% p.a. (for $0 to $250,000)

Yes up to $250,000

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Bendigo Bank

Reward Saver

0.30% p.a.(for $0 and over)

5.25% p.a. (for $0 to $100,000)

Yes up to $250,000

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Auswide Bank

Ziggy Kids Saver

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

3.01% p.a. (for $0 and over)

Yes up to $250,000

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ANZ

Progress Saver

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

4.25% p.a. (for $0 and over)

Yes up to $250,000

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