| Product | Interest rate | Maximum rate | Govt deposit guarantee |
|---|---|---|---|
| Bonus Saver |
0.01% p.a.(for $0 and over) |
5.25% p.a. (for $0 to $100,000) |
Yes up to $250,000 |
| eSave Account |
3.00% p.a.(for $5,000 and over) |
No Current Offer |
Yes up to $250,000 |
Mozo users have rated RACQ Bank savings accounts on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
3 Reviews
The interest rates are very good , that is if you were aware that as soon as you have $100,000 in the account your savings will drop to 1.2 % for the entire amount instead of 1.9%. We were not informed this would happen when taking out 4 of these accounts. The wording is ambiguous, verified by a RACQ bank manager who was also not aware that you lost interest over $99,999 on the whole amount. He read it as we did, up to $99,999 you receive 1.90 % and the amount over drops to 1.2 % . And do not withdraw any or all during the month because your rate drops to 0.01% .
Read full reviewThe interest rates are very good , that is if you were aware that as soon as you have $100,000 in the account your savings will drop to 1.2 % for the entire amount instead of 1.9%. We were not informed this would happen when taking out 4 of these accounts. The wording is ambiguous, verified by a RACQ bank manager who was also not aware that you lost interest over $99,999 on the whole amount. He read it as we did, up to $99,999 you receive 1.90 % and the amount over drops to 1.2 % . And do not withdraw any or all during the month because your rate drops to 0.01% .
A full service bank with the added service of motor vehicle membership.
Read full reviewA full service bank with the added service of motor vehicle membership.
I like the RACQ bank for my banking needs as a Savings account. I don’t need a keycard access which makes it easier to spend money and I don’t even need to use internet banking if I don’t need to. The other pro’s I love is they love to give back to the broader community especially in hard times. The only con I’ve seen from the bank is when I went to open my first term deposit with them and the branch I opened it at didn’t take cash payments. There was only one branch on the whole Northside of the city I’m living on that took cash.
Read full reviewI like the RACQ bank for my banking needs as a Savings account. I don’t need a keycard access which makes it easier to spend money and I don’t even need to use internet banking if I don’t need to. The other pro’s I love is they love to give back to the broader community especially in hard times. The only con I’ve seen from the bank is when I went to open my first term deposit with them and the branch I opened it at didn’t take cash payments. There was only one branch on the whole Northside of the city I’m living on that took cash.