Sydney Mutual Bank logo

Sydney Mutual Bank iNet Saver Account

Advertiser disclosure
Interest rate
0.15% p.a.(for $2,000 and over)
Maximum rate
No Current Offer
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review Sydney Mutual Bank iNet Saver Account

Last updated: 1 December 2020.

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What's hot
  • No account keeping fees
What's not
  • 0.05% standard variable rate on balances below $2,000
Mozo snapshot

The Sydney Mutual iNetSaver is a super simple, no strings attached savings account that comes with a maximum rate of 0.15% for balances over $2,000.

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Key features

As the name suggests, the Sydney Mutual iNet Saver is an online savings account with two simple rate tiers depending on a savers account balance. 

Savers with $2,000 or more in their account will be able to earn a 0.15% rate, while those with a balance below that will receive a 0.05% rate. Unlike many accounts, customers won't need to meet any other requirements to achieve those rates. 

Interest is calculated daily and paid monthly, and when it comes to accessing your money, you’ll be able to make unlimited transactions via phone and internet banking.

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Who is it good for

The Sydney Mutual iNetSaver could suit those with at least $2,000 in savings, but considering the maximum interest rate sits at just 0.15% it might be worth shopping around for another place to put your savings.

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Any catches

As mentioned above, the maximum rate of 0.15% will only apply for balances of $2,000 or above. Balances below that will earn just 0.05%.

Details

Rates and fees information correct as at 3 March 2021. 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: 0.05% p.a.
    Balances from $2,000: 0.15% p.a.

  • n/a

  • n/a

Fees
  • $0.00

  • n/a

  • Unlimited phone and internet banking

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • $0.00

  • $0.00

  • n/a

Other financial bits
  • $0.00

  • $0.00

  • Monthly

Features
  • no

  • none

  • no

  • no

  • no

  • no

  • no

  • yes

  • yes

  • no

  • no

  • none

  • none

  • none

Customer Reviews

How are Sydney Mutual Bank savings accounts rated by the Mozo community?

Overall
8.3/10
Price
7.2/10
Features
6.5/10
Customer service
8.4/10
Convenience
7.6/10
Trust
8.1/10

Latest reviews of Sydney Mutual Bank iNet Saver Account

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About Sydney Mutual Bank

SCU previously known as Sydney Credit Union creates a longer lasting relationship when it comes to banking. SCU offers great rates for customers, with accounts that have low or no fees attached. Products that SCU offer savings accounts, term deposits, debit cards, personal, car and home loans, credit cards, business finance and overdrafts facilities. SCU are generous when it comes to dealing with your money.

See Sydney Mutual Bank savings accounts

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1.20% p.a. (for $0 to $250,000)

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0.30% p.a. (for $0 to $1,000,000)

0.15% p.a.(for $0 and over)

Yes up to $250,000

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0.80% p.a. (for $0 to $250,001)

0.01% p.a.(for $0 to $5,000,000)

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1.10% p.a. (for $0 to $500,000)

0.35% p.a.(for $0 and over)

Yes up to $250,000

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0.25% p.a. (for $0 to $5,000,000)

0.05% p.a.(for $0 to $5,000,000)

Yes up to $250,000

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1.05% p.a. (for $1 to $250,000)

0.05% p.a.(for $1 and over)

Yes up to $250,000

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MyState Bank

Bonus Saver Account

1.20% p.a. (for $0 to $250,000)

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

Yes up to $250,000

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HSBC

Serious Saver

0.30% p.a. (for $0 to $1,000,000)

0.15% p.a.(for $0 and over)

Yes up to $250,000

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Bankwest

Hero Saver

0.80% p.a. (for $0 to $250,001)

0.01% p.a.(for $0 to $5,000,000)

Yes up to $250,000

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Online Saver

1.10% p.a. (for $0 to $500,000)

0.35% p.a.(for $0 and over)

Yes up to $250,000

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HSBC

Flexi Saver

0.25% p.a. (for $0 to $5,000,000)

0.05% p.a.(for $0 to $5,000,000)

Yes up to $250,000

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Bank of Queensland

Fast Track Saver Account

1.05% p.a. (for $1 to $250,000)

0.05% p.a.(for $1 and over)

Yes up to $250,000

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MyState Bank

Bonus Saver Account

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

1.20% p.a. (for $0 to $250,000)

Yes up to $250,000

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Hero Saver

0.01% p.a.(for $0 to $5,000,000)

0.80% p.a. (for $0 to $250,001)

Yes up to $250,000

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HSBC

Flexi Saver

0.05% p.a.(for $0 to $5,000,000)

0.25% p.a. (for $0 to $5,000,000)

Yes up to $250,000

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Bank of Queensland

Fast Track Saver Account

0.05% p.a.(for $1 and over)

1.05% p.a. (for $1 to $250,000)

Yes up to $250,000

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ANZ

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

0.40% p.a. (for $0 and over)

Yes up to $250,000

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

1.40% p.a. (for $0 and over)

Yes up to $250,000

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

1.55% p.a. (for $0 and over)

Yes up to $250,000

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Mighty Saver Account

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

1.55% p.a. (for $0 and over)

Yes up to $250,000