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First Option started as a family of credit unions providing on-site banking services to employees in industries including leisure and hospitality, technology and gaming, food and fuel. Joining together over the years to form First Option Bank, they now provide a comprehensive range of financial services to members and their families. As a mutual bank they are fully owned by members, reinvesting earnings back into better interest rates and customer service.
Last updated 21 November 2024
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First Option Bank small business savings accounts
Business Bonus Saver
Standard interest rate
0.50
%
p.a.
(for $1 to $2,000,000)
Maximum rate
4.65
%
p.a.
(for $1 to $2,000,000)
Minimum $1,000 monthly deposit and no withdrawals to earn bonus interest each month.
Link not supplied
Standard rate
Balances from $1: 0.50% p.a. Balances from $2,000,000: 0.00% p.a.
Maximum rate
Balances from $1: 4.65% p.a. Balances from $2,000,000: 0.00% p.a.
Maximum rate conditions
Minimum $1,000 monthly deposit and no withdrawals to earn bonus interest each month.
Interest paid
Monthly
Account fee per month
$10.00- Monthly membership fee is waived if minimum monthly balance is $25,000 - including both personal and business account balances (upon request).
Access
BPay, Internet banking, Bank@Post
Minimum balance
$1.00
Other restrictions
Online access only. No Visa card access. Must become a First Option Bank member to open an account.
Other benefits
-
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Join the 35K+ subscribers who receive our weekly Moneyzone newsletter, showcasing the latest rate movements, exclusive deals, money-saving hacks, and expert insights from Mozo.
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.
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