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Mini meca 2024

St.George Incentive Saver Account

Advertiser disclosure
Interest rate
1.85% p.a.(for $0 and over)
Maximum rate
5.25% p.a. (for $0 to $250,000)
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review St.George Incentive Saver Account - last updated: 12 April 2024

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What's hot
  • Up to 5.25% p.a. introductory interest rate (subject to eligibility criteria)
  • No account fees
  • Get $30 cashback when you open an Incentive Saver and Complete Freedom transaction account (T&Cs apply)
What's not
  • 1.85% standard rate (if bonus criteria aren't met)
  • Balances of $250,000 and over qualify for a reduced interest rate of 4.85% p.a.
Mozo snapshot

If you’re a dedicated saver, why not be rewarded for your efforts with the St.George Incentive Saver savings account? With no account-keeping fees and a maximum introductory interest rate of up to 5.25% p.a for customers who meet the eligibility criteria, the Incentive Saver Account could be a competitive place to stash your savings. 

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Key features

Special cashback offer: Customers who link their Incentive Saver and Complete Freedom transaction accounts could get $30 cashback if they deposit $100 into their savings within 50 days (if you already have one of those accounts) or 30 days (if you're opening both accounts for the first time). T&Cs apply. 

The St George Incentive Saver Account really lives up to its name, with an introductory interest rate of up to 5.25% p.a for the first three months (on balances under $250,000), if you meet the bonus criteria. After the first three months, the interest rate on the Incentive Saver Account drops down to 5.15% p.a. 

This savings account usually has a base rate of 1.85% p.a., but includes a bonus rate of 3.30% p.a. if you grow your balance by at least $50 per month (unless you're under the age of 21, in which case you'll simply need to increase it by $0.01). The extra 0.10% p.a. is an additional bonus rate offered for the first three months for new customers who open their account online. 

With this savings account, you’ll enjoy zero account-keeping fees and unlimited phone and internet transactions, so you’re free to move your cash around as much as you’d like! Your interest will be paid out monthly and you won’t even need to make a deposit to open the account.

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Who is it good for

The St.George Incentive Saver savings account could be a great choice for dedicated savers who can guarantee they’ll be able to grow their account balance every month.

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Any catches

As mentioned above, in order to be eligible for the maximum bonus and introductory rate of 5.25% p.a., you’ll need to deposit at least $50 into your account each month (or $0.01 for under 21s) and have a balance under $250,000. Balances of $250,000 and over qualify for a reduced interest rate of 5.15% p.a.

Details

Rates and fees information correct as at 27 May 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: 1.85% p.a.

Balances from $0: 5.25% p.a.
Balances from $250,000: 5.00% p.a.

Intro bonus rate of 5.25% for balances up to $250,000 for the first 3 months, reverting to 5.15%. Balance must grow by at least $50 a month. If under 21, balance must grow by $0.01 a month (excluding interest).

Fees

$0.00

n/a

Unlimited transactions from phone and internet. 1 free counter withdrawal transaction

n/a

n/a

$0.00

$0.00

$2.50

$0.00

$0.00

$0.00

n/a

Other financial bits

$0.00

$0.00

Monthly

Features

no

$2,000.00

yes

no

no

yes

no

yes

yes

yes

yes

none

0.10% extra intro bonus rate if the account is opened online. $30 cash back for customers aged 18 or under who open a new Incentive Saver account or Complete Freedom transaction account so that they have both and deposit $100 into the Incentive Saver.

none

Customer Reviews

How are St.George savings accounts rated by the Mozo community?

Overall
7.4/10
Price
6.8/10
Features
6.3/10
Customer service
7.7/10
Convenience
7.9/10
Trust
7.7/10
Based on 2512 St.George savings account reviews as rated by the Mozo customers. More about the Mozo Customer Ratings.
Mozo recommends that ratings are only one factor to be taken into account when deciding whether to take up any financial product offer.

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