Looking for a bonus savings account to maximise your savings with some extra special interest rates? Well, the Police Bank Bonus Saver Account offers noteworthy rates of up to 2.65% for balances over $10,001. You’ll also be able to earn 2.40% for balances between $500 and $10,001 and 2.25% for balances between $0 and $500.
Just remember that you will need to meet the minimum requirements of a $100 deposit per month and no withdrawals, otherwise you’ll only be able to earn the base rates of 0.50% p.a. for balances over $10,001, 0.25% p.a. for balances from $500 and 0.10% p.a. for balances from $0.
Did we mention that the account is fee free and has unlimited internet and phone banking, but there’s no branch access.
Who it's good for:
The Police Bank Bonus Savings Account could be a good option for anyone who wants a competitive interest rate to grow their savings without huge minimum requirements.
Do keep in mind that the bonus rates only apply when you deposit $100 per month into the account while making no withdrawals.