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Australian Military Bank Online Saver

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Do you want an online savings account that lets you earn bonus interest?

The Australian Military Bank Online Saver Account gives you access to your money solely through the bank’s Internet banking platform. There is no minimum balance requirement with this account. If your account balance crosses a predetermined threshold you earn interest. By meeting some basic depository criteria you can earn bonus interest.

1.25% p.a.

Maximum variable rate

0.25% p.a.

Base interest rate

1% p.a.

Bonus interest rate

$1

Minimum opening balance

Details

Product NameAustralian Military Bank Online Saver
Maximum Variable Rate1.25% p.a.
Standard Variable Rate0.25%
Bonus Variable Rate1.00%
Monthly Account Fee$0
Minimum Opening Deposit$1
Minimum Age18

Key features

Minimum and maximum balance

There is no minimum account opening or ongoing balance requirement with this account. The maximum your account balance can get to while earning interest is $500,000.

Interest

The bank lets you earn interest in a tiered manner. If the balance in your account is up to $4,999 you don't earn any interest. Balances from $5,000 to $500,000 earn 0.25% p.a. The bank calculates interest daily and pays it monthly.


How to apply

Eligibility

The Online Saver Account is a self-service account so you can only apply for it online. To submit your application, visit the Australian Military Bank website. Before you do, make sure you meet the required eligibility criteria:

  • Minimum age. You're over 18 years old.
  • Residency requirements. You're an Australian citizen or a permanent Australian resident

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