The MyState Bank Business Online Saver is a great account option for those looking to earn interest on their business account balance without having to lock their savings away for a fixed time.
It's not a surprise then that this account took out a 2020 Mozo Experts Choice Deposits Award for best Small Business No Strings Savings. Not to mention, with no monthly account fees, plus convenient 24/7 access to phone and internet banking, this savings and investment account could be the perfect companion for your business banking needs.
The MyState Business Online Saver is a simple account to manage business banking, without the hassle of pesky extra fees. With this account, you’ll earn 0.35% p.a tiered interest on balances over $10,000, or 0% p.a. standard interest on balances below $10,000.
Nonetheless, with no ongoing account fees and unlimited transfers between your related business accounts, it certainly lives up to its name as an online saver.
Another great feature that comes with this account is that it accepts direct credit deposits from any financial institution. And with unlimited phone and internet transactions, you’ll be able to transfer money to your linked accounts at any time of the day.
The Business Online Saver bank account could be a great option for business owners looking to earn interest on their funds and can commit to keeping their balance over the $10,000 mark.
If the Business Online Saver bank account sounds like a match for your business needs, just remember that you’ll need to maintain an account balance of at least $10,000 to receive the 0.50% p.a. interest rate, so this might not be a great choice for small businesses or startups.
| Balances from $0: 0.00% p.a. | |
| n/a | |
| n/a |
| $0.00 | |
| n/a | |
| Unlimited transactions from phone and internet | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| n/a | |
| $0.00 | |
| $0.00 | |
| n/a |
| $1.00 | |
| $0.00 | |
| Quarterly |
| no | |
| none | |
| no | |
| no | |
| no | |
| no | |
| no | |
| yes | |
| yes | |
| yes | |
| no | |
| Must link to a transaction account | |
| none |
Virgin Money
Boost Saver with Go Account
1.50% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Rabobank
High Interest Savings Account
1.35% p.a. (for $0 to $250,001)
0.25% p.a.(for $0 to $250,001)
Yes up to $250,000
Virgin Money
Grow Saver
0.65% p.a. (for $0 and over)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Bank of Queensland
Fast Track Saver Account
1.05% p.a. (for $1 to $250,000)
0.05% p.a.(for $1 and over)
Yes up to $250,000
Virgin Money
Boost Saver with Go Account
1.50% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Rabobank
High Interest Savings Account
1.35% p.a. (for $0 to $250,001)
0.25% p.a.(for $0 to $250,001)
Yes up to $250,000
Virgin Money
Grow Saver
0.65% p.a. (for $0 and over)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Bank of Queensland
Fast Track Saver Account
1.05% p.a. (for $1 to $250,000)
0.05% p.a.(for $1 and over)
Yes up to $250,000
Citi
Online Saver
1.10% p.a. (for $0 to $500,000)
0.35% p.a.(for $0 and over)
Yes up to $250,000