MyState Bank Business Online Saver

0% p.a.(for $0 to $10,000)

No Current Offer

MyState Bank Business Online Saver

0% p.a.(for $0 to $10,000)

No Current Offer

Mozo Review   MyState Bank Business Online Saver Review

Last updated: 22 February 2019.

What's hot:
  • 1.75% p.a. interest on balances from $10,000

  • $0 monthly account keeping fees

  • Unlimited transfers between related Business accounts

What's not:
  • 0% p.a standard interest rate (accounts under $10,000)

Mozo snapshot:

The MyState Bank Business Online Saver is a great account for those looking to make money off their business account without the need to lock their stash away for a fixed time. There’s no surprise why it took out a Mozo Experts Choice Deposits Award 2019 for Small Business No Strings Savings. With no monthly account keeping fees, plus convenient 24 hours/ 7 days access to phone and internet banking, this savings and investment account could be the perfect companion for your business banking needs.

Key features:

The MyState Business Online Saver is a simple account to manage business banking, without the need for unnecessary fees. With this account, you’ll earn a competitive 1.75% p.a tiered interest for balances over $10,000. On the other hand, businesses with less than $10,000 in savings might not get so much joy out of the 0% p.a. standard interest rate. Nonetheless, with no account keeping 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.

Who it's good for:

The Business Online Saver bank account is a great option for business owners looking to make money off their funds who can commit to keeping their balance over the $10,000 mark.

Any catches?

If the Business Online Saver bank account sounds like a match for your business needs, just remember you’ll need $10,000 to access the 1.75% p.a. interest rate, so maybe not such a great choice for small businesses or startups.

Details

Rates and fees information correct as at 25 June 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: 0.00% p.a.
    Balances from $10,000: 1.75% p.a.

  • none

  • n/a

Fees
  • $0.00

  • none

  • Unlimited transactions from phone and internet

  • none

  • none

  • none

  • none

  • none

  • none

  • $0.00

  • $0.00

  • none

Other financial bits
  • $1.00

  • $0.00

  • Quarterly

Features
  • no

  • none

  • no

  • no

  • no

  • no

  • no

  • yes

  • yes

  • yes

  • no

  • Must link to a transaction account

  • none

Customer Reviews

This product is not currently reviewed.

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