Bank First Bonus Saver

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

1.85% p.a. (for $0 to $150,000)

Bank First Bonus Saver

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

1.85% p.a. (for $0 to $150,000)

Mozo Review   Bank First Bonus Saver Review

Last updated: 1 August 2019.

What's hot:
  • 1.85% special rate

  • $0 account keeping fees

What's not:
  • Special rate drops to 1.75% for amounts over $150k

Mozo snapshot:

Claiming the title of Australia's Best Mutual Bank 2016, is no mean feat but Bank First was able to do just that thanks to its range of great value products. When it comes to its Bonus Saver account you'll not only be free of the bite of ongoing fees, but also enjoy a generous ongoing rate of 1.85% if you deposit at least $1 and make no withdrawals in a month.  

Key features:

Since you're looking for a savings account, probably the most important aspect is the interest rate, right? So let's run you through the conditions attached to ensure you get the most out of your cash stash. To earn that 1.85% special rate you'll need to ensure you're depositing at least $1, for example from your linked Bank First everyday transaction account each month. You also can't make any withdrawals to receive the special rate, which may not seem very flexible, but might be the restriction you need if you're the type of saver that tends to dip into their savings on a regular basis. 

When it comes to fees, there are next to none. You'll be charged no monthly account keeping, phone, internet or BPay fees and will also be able to make in branch deposits for free. The only small fee that you should watch out for, if you like to do your banking face to face, is the $1 over the counter withdrawal fee. 

Who it's good for:

If you're looking for an award winning provider outside the big banks in Australia, offering a competitive savings account rate and no account keeping fees, then you might just have met your match with the Bank First, Bonus Saver account. 

Any catches?

Do you have a balance over $150k? Keep in mind, the 1.85% special rate drops down to 1.75%. 

Details

Rates and fees information correct as at 22 August 2019. 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: 0.05% p.a.

  • Balances from $0: 1.85% p.a.
    Balances from $150,000: 1.75% p.a.

  • Minimum one deposit of $1 and no withdrawals in the month

Fees
  • $0.00

  • n/a

  • Unlimited free transactions from phone, internet, BPay.

  • n/a

  • n/a

  • n/a

  • $0.00

  • $1.00

  • n/a

  • $0.00

  • $0.00

  • n/a

Other financial bits
  • $0.00

  • $0.00

  • Monthly

Features
  • no

  • none

  • no

  • no

  • no

  • yes

  • no

  • yes

  • yes

  • yes

  • no

  • Promotional rate for new members only.

  • none

Customer Reviews

This product is not currently reviewed.

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