If you’re a keen saver who loves the convenience of mobile banking, then you might want to check out the Saver Account from 2020 Everyday & Savings Bank of The Year, Up Bank. The account allows you earn a competitive interest rate with no account fees, plus there's an optional roundup feature which can help you build up your savings stash.
The Saver Account also won an individual 2020 Mozo Experts Choice Award in the best Regular Saver category.
Banking has never looked more modern and easy than with the Up Saver Account which features a special rate of 1.10% for balances between $0 - $1,000,000 when you make five successful card purchases each month through the linked Up Bank Everyday Account. Just keep in mind that if you don't meet this condition, there's no base rate, so you won't earn any interest on your balance.
One handy perk with the Up Bank Saver Account is the optional roundup feature. Every time you make a purchase with the linked transaction account, the tool will automatically round it up to the nearest whole dollar before transferring the difference to your linked Saver Account.
Another useful feature is that you'll be able to create multiple and name different Saver Accounts, all of which are eligible to receive the maximum interest rate. That way savers can have dedicated accounts for each of their savings goals.
If you are thinking of opening a Up Bank Saver Account, just bear in mind that there is no branch or phone access and customers can only access the account through the iOS or Android app.
Special offer: Sign up for an Up account using the special bonus code MOZO5SAVE to automatically receive $5 into your new account.
For Aussie savers who like to keep everything they do through their mobile, then the Up Bank Saver Account is a top pick, especially if they can meet the monthly account conditions and make use of the handy tools and features.
The Up Saver Account can only be accessed through the iOS or Android app, so if you prefer to bank with providers that allow you to walk into a branch or use a desktop platform, then you may want to consider other accounts.
Balances from $0: 0.00% p.a.
Balances from $0: 1.10% p.a.
Balances from $1,000,000: 0.00% p.a.
Make 5 or more successful card purchases per calendar month using your Up debit card and digital wallets (ATM transactions excluded).
$0.00
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Unlimited free transactions from mobile app.
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$0.00
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Monthly
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yes
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Bank and saving account only accessible through iOS or Android app.
Optional roundup feature automatically rounds purchase to the nearest whole dollar and transfers difference to linked Saver Account.
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I swapped my bank over to up about a year ago now. I tell literally everyone I know about how great and convenient it is. Almost every time I get my debit card out, people comment on the fluorescent colour and ask me about it. I can't recommend how convenient it is enough, everything is right there at your fingertips, transactions are instant and itemised to reveal your spending habits and it truly is the bank of the future. The only thing I could say bad about up is the fact that if my phone goes missing or it breaks, I have no way of logging on to a desktop version to move or send money- everything is done in the app.
Read full reviewI swapped my bank over to up about a year ago now. I tell literally everyone I know about how great and convenient it is. Almost every time I get my debit card out, people comment on the fluorescent colour and ask me about it. I can't recommend how convenient it is enough, everything is right there at your fingertips, transactions are instant and itemised to reveal your spending habits and it truly is the bank of the future. The only thing I could say bad about up is the fact that if my phone goes missing or it breaks, I have no way of logging on to a desktop version to move or send money- everything is done in the app.
Love up banking but mainly the savings account with the high interest you can earn while saving.
Read full reviewLove up banking but mainly the savings account with the high interest you can earn while saving.
For me Up has been so motivating. I've set up various savers each with a title and emoji and I can easily move money into each. When you deposit money into your saver it has an animation that shows the account 'filling up' to reach the target you've set. I have been very happy with Up and it is backed by Bendigo Bank so I know it is safe and reliable. Customer Service are easy to deal with over instant chat. Highly recommended.
Read full reviewFor me Up has been so motivating. I've set up various savers each with a title and emoji and I can easily move money into each. When you deposit money into your saver it has an animation that shows the account 'filling up' to reach the target you've set. I have been very happy with Up and it is backed by Bendigo Bank so I know it is safe and reliable. Customer Service are easy to deal with over instant chat. Highly recommended.
Great (high) bonus rate when 5 purchases are made. Convenience of customer service and alerts. Payment summaries are categorised well and aesthetically.
Read full reviewGreat (high) bonus rate when 5 purchases are made. Convenience of customer service and alerts. Payment summaries are categorised well and aesthetically.
Great product but needs to have even more communication with community. E.g. announces changes to interest rates late.
Read full reviewGreat product but needs to have even more communication with community. E.g. announces changes to interest rates late.
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
HSBC
Serious Saver
0.90% p.a. (for $0 to $1,000,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Up
Saver Account
1.10% p.a. (for $0 to $1,000,000)
0% p.a.(for $0 and over)
Yes up to $250,000
HSBC
Flexi Saver
0.85% p.a. (for $0 to $5,000,000)
0.05% p.a.(for $0 to $5,000,000)
Yes up to $250,000
Citi
Online Saver
1.10% p.a. (for $0 to $500,000)
0.35% p.a.(for $0 and over)
Yes up to $250,000
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
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
HSBC
Serious Saver
0.90% p.a. (for $0 to $1,000,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Up
Saver Account
1.10% p.a. (for $0 to $1,000,000)
0% p.a.(for $0 and over)
Yes up to $250,000
HSBC
Flexi Saver
0.85% p.a. (for $0 to $5,000,000)
0.05% p.a.(for $0 to $5,000,000)
Yes up to $250,000
Citi
Online Saver
1.10% p.a. (for $0 to $500,000)
0.35% p.a.(for $0 and over)
Yes up to $250,000
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
Suncorp
Everyday Options Sub-account
No Current Offer
0.05% p.a.(for $0 and over)
Yes up to $250,000
