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abal banking Business Online Savings Account

Advertiser disclosure
Interest rate
0.85% p.a.(for $3,000 to $100,000)
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 March 2024

binocular icon
What's hot
  • 0.85% p.a. ongoing interest rate (balances up to $100,000)
  • 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 0.85% ongoing interest rate (1.55% p.a. for balances over $500,000) and zero monthly account fees to worry about, the Abal Bank Business Online Savings Account could be the low cost, no hassle account you’ve been looking for.

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Key features

The Abal Bank's Business Online Savings Account comes with a base rate of 0.85% p.a. if your business' account balance is below $100,000. But the savings rate works on a tiered system for larger balances, paying interest of:

  • 0.75% p.a. | Balances of $0 to $3,000

  • 0.85% p.a. | Balances of $3,000 to $100,000

  • 1.05% p.a. | Balances of $100,000 to $250,000

  • 1.25% p.a. | Balances of $250,000 to $500,000

  • 1.55% p.a. | Balances of $500,000+

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 Bank 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 Bank Business Online Savings Account with its tiered interest rate system may be a worthwhile 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 29 March 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: 0.75% p.a.
Balances from $3,000: 0.85% p.a.
Balances from $100,000: 1.05% p.a.
Balances from $250,000: 1.25% p.a.
Balances from $500,000: 1.55% 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 does not currently have any community reviews. Be the first to write one.

About abal banking

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5.35% p.a. (for $0 to $250,000)

4.75% p.a.(for $0 to $1,000,000)

Yes up to $250,000

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High Interest Savings Account

5.75% p.a. (for $0 to $250,001)

4.40% p.a.(for $0 to $250,001)

Yes up to $250,000

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Reward Saver Account

5.25% p.a. (for $0 to $1,000,000)

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

Yes up to $250,000

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Bendigo Bank

Reward Saver

5.25% p.a. (for $0 to $100,000)

0.30% p.a.(for $0 and over)

Yes up to $250,000

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AMP Saver Account

5.40% p.a. (for $0 to $250,000)

1.20% p.a.(for $0 to $5,000,000)

Yes up to $250,000

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5.10% p.a. (for $0 to $250,000)

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

Yes up to $250,000

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Hero Saver

4.60% p.a. (for $0 to $250,001)

1.00% p.a.(for $0 to $5,000,001)

Yes up to $250,000

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No Current Offer

4.75% p.a.(for $1 and over)

Yes up to $250,000

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Rabobank

High Interest Savings Account

5.75% p.a. (for $0 to $250,001)

Yes up to $250,000

4.40% p.a.(for $0 to $250,001)

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Macquarie

Savings Account

5.35% p.a. (for $0 to $250,000)

Yes up to $250,000

4.75% p.a.(for $0 to $1,000,000)

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ubank

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5.10% p.a. (for $0 to $250,000)

Yes up to $250,000

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

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AMP Bank

AMP Saver Account

5.40% p.a. (for $0 to $250,000)

Yes up to $250,000

1.20% p.a.(for $0 to $5,000,000)

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IMB Bank

Reward Saver Account

5.25% p.a. (for $0 to $1,000,000)

Yes up to $250,000

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

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Hero Saver

4.60% p.a. (for $0 to $250,001)

Yes up to $250,000

1.00% p.a.(for $0 to $5,000,001)

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No Current Offer

Yes up to $250,000

4.75% p.a.(for $1 and over)

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MyState Bank

Bonus Saver Account

5.00% p.a. (for $0 to $250,000)

Yes up to $250,000

0.05% p.a.(for $0 and over)

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IMB Bank

Reward Saver Account

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

5.25% p.a. (for $0 to $1,000,000)

Yes up to $250,000

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Bendigo Bank

Reward Saver

0.30% p.a.(for $0 and over)

5.25% p.a. (for $0 to $100,000)

Yes up to $250,000

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ubank

Save Account

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

5.10% p.a. (for $0 to $250,000)

Yes up to $250,000

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MyState Bank

Bonus Saver Account

0.05% p.a.(for $0 and over)

5.00% p.a. (for $0 to $250,000)

Yes up to $250,000

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

3.01% p.a. (for $0 and over)

Yes up to $250,000

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

4.25% p.a. (for $0 and over)

Yes up to $250,000

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