Thumbnail icon for abal banking

abal banking Business Online Savings Account

Interest rate
1.00% p.a.(for $0 to $500,000)
Maximum rate
No Current Offer

Mozo editorial review abal banking Business Online Savings Account

Last updated: 11 June 2020.

binocular icon
What's hot
  • 2020 Mozo Experts Choice Award
  • 1.00% 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 1.00% ongoing interest rate (1.20% 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. 

key icon
Key features

Savings account interest rates may no longer be where they once were, but the 1.00% p.a. ongoing interest rate offered with the Business Online Savings Account is one of the most competitive in the Mozo database. The 1.00% rate applies to balances from $0 - $500,000, while balances above $500,000 will receive 1.20%! 

And because this is an ongoing base interest rate you won’t need to worry about any 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 any monthly 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.

snapshot
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 1.00% ongoing base rate may be a worthy choice - especially if you’ve got a balance over $500,000.

snapshot
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 15 July 2020. 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: 1.00% p.a.
    Balances from $500,000: 1.20% p.a.

  • n/a

  • n/a

Fees
  • $0.00

  • n/a

  • 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

This product is not currently reviewed.

abal banking

Promoted

HSBC

HSBC

Serious Saver

2.10% p.a. (for $0 to $1,000,000)

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

Yesup to $250,000

Promoted

Citi

Citi

Online Saver

2.05% p.a. (for $0 to $500,000)

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

Yesup to $250,000

Promoted

Bank of Queensland

Bank of Queensland

Fast Track Saver Account

1.85% p.a. (for $1 to $250,000)

0.20% p.a.(for $1 and over)

Yesup to $250,000

Promoted

Bankwest

Bankwest

Hero Saver

1.25% p.a. (for $0 to $250,000)

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

Yesup to $250,000

Promoted

HSBC

HSBC

Flexi Saver

1.25% p.a. (for $0 to $5,000,000)

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

Yesup to $250,000

Promoted

HSBC

HSBC

Serious Saver

2.10% p.a. (for $0 to $1,000,000)

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

Yesup to $250,000

Promoted

Citi

Citi

Online Saver

2.05% p.a. (for $0 to $500,000)

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

Yesup to $250,000

Promoted

Bank of Queensland

Bank of Queensland

Fast Track Saver Account

1.85% p.a. (for $1 to $250,000)

0.20% p.a.(for $1 and over)

Yesup to $250,000

Promoted

Bankwest

Bankwest

Hero Saver

1.25% p.a. (for $0 to $250,000)

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

Yesup to $250,000

Promoted

HSBC

HSBC

Flexi Saver

1.25% p.a. (for $0 to $5,000,000)

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

Yesup to $250,000

Promoted

HSBC

HSBC

Serious Saver

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

2.10% p.a. (for $0 to $1,000,000)

Promoted

Citi

Citi

Online Saver

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

2.05% p.a. (for $0 to $500,000)

Promoted

Bank of Queensland

Bank of Queensland

Fast Track Saver Account

0.20% p.a.(for $1 and over)

1.85% p.a. (for $1 to $250,000)

Promoted

Bankwest

Bankwest

Hero Saver

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

1.25% p.a. (for $0 to $250,000)

Promoted

HSBC

HSBC

Flexi Saver

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

1.25% p.a. (for $0 to $5,000,000)

Promoted

Newcastle Permanent

Newcastle Permanent

Smart Saver

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

2.00% p.a. (for $0 and over)

Promoted

ANZ

ANZ

Progress Saver

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

0.85% p.a. (for $0 and over)

Promoted

UniBank

UniBank

Mighty Saver Account

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

1.65% p.a. (for $0 and over)