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.
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.
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.
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.
Balances from $0: 0.75% p.a. |
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n/a |
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n/a |
$0.00 |
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n/a |
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Unlimited free transactions from internet. One counter transaction. |
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$0.00 |
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Arab Bank Australia |
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$0.00 |
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$0.00 |
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$2.50 |
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$1.00 |
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n/a |
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$0.00 |
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n/a |
$1.00 |
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$0.00 |
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Monthly |
yes |
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$1,020.00 |
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no |
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no |
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yes |
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yes |
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no |
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no |
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yes |
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yes |
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no |
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none |
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none |
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Savings Account
5.35% p.a. (for $0 to $250,000)
4.75% p.a.(for $0 to $1,000,000)
Yes up to $250,000
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
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
Reward Saver
5.25% p.a. (for $0 to $100,000)
0.30% p.a.(for $0 and over)
Yes up to $250,000
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
Save Account
5.10% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
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
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)
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)
Save Account
5.10% p.a. (for $0 to $250,000)
Yes up to $250,000
0.10% p.a.(for $0 and over)
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)
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)
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)
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)
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
Reward Saver
0.30% p.a.(for $0 and over)
5.25% p.a. (for $0 to $100,000)
Yes up to $250,000
Save Account
0.10% p.a.(for $0 and over)
5.10% p.a. (for $0 to $250,000)
Yes up to $250,000
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
Ziggy Kids Saver
0.01% p.a.(for $0 and over)
3.01% p.a. (for $0 and over)
Yes up to $250,000
Progress Saver
0.01% p.a.(for $0 and over)
4.25% p.a. (for $0 and over)
Yes up to $250,000