Thumbnail icon for MyState Bank

MyState Bank Business Online Saver

Interest rate
0% p.a.(for $0 to $10,000)
Maximum rate
No Current Offer

Mozo editorial review MyState Bank Business Online Saver

Last updated: 20 February 2020.

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What's hot
  • 1.10% p.a. interest on balances from $10,000
  • 2020 Mozo Experts Choice Award
  • Unlimited transfers between related Business accounts
  • $0 monthly account keeping fees
What's not
  • 0% p.a standard interest rate (on balances below $10,000)
Mozo snapshot

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.

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Key features

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 1.10% 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.

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Who is it good for

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.

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Any catches

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 1.10% p.a. interest rate, so this might not be a great choice for small businesses or startups.

Details

Rates and fees information correct as at 12 July 2020. 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: 1.10% p.a.

  • n/a

  • n/a

Fees
  • $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

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.

MyState Bank

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3.00% p.a. (for $0 to $30,000)

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2.10% p.a. (for $0 to $1,000,000)

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2.05% p.a. (for $0 to $500,000)

0.35% p.a.(for $0 and over)

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1.25% p.a. (for $0 to $250,000)

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Yesup to $250,000

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2.25% p.a. (for $0 to $250,001)

0.80% p.a.(for $0 to $250,001)

Yesup to $250,000

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2.20% p.a. (for $1 to $100,000)

0.80% p.a.(for $1 to $250,000)

Yesup to $250,000

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1.85% p.a. (for $1 to $250,000)

0.20% p.a.(for $1 and over)

Yesup to $250,000

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HSBC

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1.25% p.a. (for $0 to $5,000,000)

0.01% p.a.(for $0 to $5,000,000)

Yesup to $250,000