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abal banking Business Online Savings Account

Advertiser disclosure
Interest rate
0.50% p.a.(for $0 to $500,000)
Maximum rate
No Current Offer
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review abal banking Business Online Savings Account - last updated: 21 January 2021

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What's hot
  • 2020 Mozo Experts Choice Award
  • 0.50% p.a. ongoing interest rate
  • No minimum rate requirements
  • No monthly account fee
What's not
  • $2.50 over the counter withdrawal fee
Mozo snapshot

Looking for a ‘no strings attached’ savings account to grow your business savings balance? With a 0.50% ongoing interest rate (0.70% for balances over $500,000) and zero monthly account fees to worry about, the abal banking Business Online Savings Account could be the low cost, no hassle account you’ve been looking for. Plus the account also took out a 2020 Mozo Experts Choice Award in the best Small Business No Strings Savings category. 

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Key features

Savings account interest rates may no longer be where they once were, but the 0.50% p.a. ongoing interest rate offered with the Business Online Savings Account is one of the most competitive in the Mozo database. The 0.50% rate applies to balances from $0 - $500,000, while balances above $500,000 will receive 0.70%.

And because this is an ongoing base interest rate you won’t need to worry about monthly deposit requirements or other conditions. You really can just set and forget. 

The abal banking Business Online Savings Account doesn’t charge business owners monthly account keeping fees, though it’s worth keeping in mind that there’s a $2.50 over the counter withdrawal fee and a $1.00 EFTPOS fee.

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Who is it good for

If you’re a business owner looking for a safe place to stash (and grow) your business savings without the hassle of monthly fees or account conditions, then the abal banking Business Online Savings Account with its competitive 0.50% ongoing base rate may be a worthy choice - especially if you’ve got a balance over $500,000.

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Any catches

While there’s no monthly account fee to worry about, don’t forget about those over the counter withdrawal ($2.50) and EFTPOS ($1.00) fees.  

Details

Rates and fees information correct as at 20 October 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: 0.50% p.a.
Balances from $500,000: 0.70% p.a.

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n/a

Fees

$0.00

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Unlimited free transactions from internet. One counter transaction.

$0.00

Arab Bank Australia

$0.00

$0.00

$2.50

$1.00

n/a

$0.00

n/a

Other financial bits

$1.00

$0.00

Monthly

Features

yes

$1,020.00

no

no

yes

yes

no

no

yes

yes

no

none

none

Customer Reviews

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