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Our verdict

You'll earn a high bonus rate of 5.1% p.a. with no conditions to meet, however it's only available for 4 months.

This account offers a total bonus interest rate of 5.1% p.a. for the first 4 months with no conditions to meet, which could give your savings a boost if you've got a short-term goal. This is a great rate, however, after this introductory period you'll only get the standard variable rate of 4.1% p.a., which is basically no interest at all and very low compared to many other accounts in the market.

If you're opening this account to take advantage of the 4-month bonus rate, it's worth setting yourself a reminder to switch accounts after the intro period ends if you're still hoping to earn interest on your balance.

Pros

No deposit or withdrawal restrictions
No account keeping fees
Great bonus rate

Cons

Must be linked to an Australian Unity transaction account
Standard variable rate is very low after the 4-month intro period

Details

Key details

Product Name	Australian Unity Easy Saver Plus
Maximum Variable Rate	5.10% p.a.
Standard Variable Rate	4.10% p.a.
Monthly Account Fee	$0
Minimum Opening Deposit	$0
Minimum Age	16

Key features

Total bonus interest rate of 5.1% p.a. for the first 4 months

The Australian Unity Easy Saver offers a total bonus interest rate of 5.1% p.a. for an introductory period of 4 months. There are no special terms and conditions that need to be met to earn this bonus interest, all you need to do is open an account.

Interest rate reverts to 4.1% p.a..

Once the 4-month introductory period ends, the account earns the standard variable interest rate.

No account keeping fees

There are no ongoing account-keeping fees for this account, allowing you to save and reach your goals as quickly as possible.

Must link to an Australian Unity transaction account

Money can be transferred in and out of your Australian Unity Easy Saver via a linked transaction account. This account allows you to pay no withdrawal fees at more than 3,800 RediATMs nationwide, and the monthly account service fee of $5 will be waived if you deposit at least $1000 into the transaction account each month. The Australian Unity Transaction Account also includes a Visa debit card with payWave.

Maximum interest rate applies up to

The Australian Unity Easy Saver account is available for savings balances of up to . Balances up to this amount are also protected by the Australian Government Guarantee.

No deposit or withdrawal restrictions

There are no terms and conditions regarding the amount of deposits or withdrawals you must make into your account each month in order to access the bonus interest rate. This means that your money can work harder for you without there being any hard work on your part.

Smartphone app

Australian Unity has a smartphone banking app, which allows the convenience of banking on the go. You can use the app to manage your account and transfer money whenever is suitable.

Australian-based

If you ever need help or support with your Australian Unity Easy Saver account, Australian Unity operates an Australian-based call center as well as mobile bankers so that you can access the assistance you need.

How to apply

You can open an account by completing the online application form on Australian Unity's website.

Eligibility

In order to be eligible for an Australian Unity Easy Saver you must meet the following requirements:

Minimum age. You will need to be 16 years or older.
Residency requirements. You must be a permanent resident of Australia with a residential address.
Account requirements. You must not have previously held an Australian Unity Easy Saver account.

Documentation needed

You will also need to have a range of information and documentation ready to ensure that your application is processed as quickly as possible. This includes:

Tax File Number. Whether or not you provide your Tax File Number is optional, but doing so will ensure that you don't pay tax at the maximum marginal rate.
Identification. Your driver's licence, passport and Medicare card will be required.

It takes less than five minutes to complete the online application for an Australian Unity Easy Saver account.

What happens after I submit my application?

Your account will be opened within approximately three days of your application being received, and the Visa debit card for your linked transaction account will arrive within 5-7 business days.

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Alison Finder

Editor

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JOHN

October 02, 2023

WHAT IS THE MAXIMUM AMOUNT I CAN DEPOSIT. THANKS.

Shubham Pandey Finder

October 23, 2023

Hi John,

Thankyou for your question.

I hope this helps.

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S.Too

November 01, 2017

Is the 10% of AU Membership only for new membership, or does it apply to existing AU members?

Jonathan

November 01, 2017

Hi S.Too,

Thank you for your inquiry.

10% discount includes all other retail discounts and is available when paying by direct debit. This discount is for new customers only and is not available through brokers or comparators. It is not to be used in conjunction with any other offer or discount and also excludes Overseas Visitors Cover.

You can read their Terms and Conditions and Privacy Policy before applying and/or speak to one of their consultants for further advice.

Hope this information has helped.

Cheers,

Jonathan

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Clarizza Fernandez Finder

October 25, 2016

Hi Ben,

Thanks for your question.

There are no transaction fees for this account, however the account is opened with a transaction account which does have a monthly fee of $5 or free if at least $1000 is deposited into this transaction account per month. As a savings account, you can’t withdraw the money direct from this account however you can transfer your funds into the linked transaction account which allows you to withdraw your cash. The interest is calculated daily and paid monthly.

Regards,

Clarizza

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Nadine

October 20, 2016

Re. Aust Unity Easy Saver

Could you please advise how often the interest is paid?

Is there any early termination fees, or account closure fees?

Clarizza Fernandez Finder

October 21, 2016

Hi Nadine,

Thanks for your question.

The bonus interest rate will be calculated daily and paid monthly. There are also no termination or account closure fees.

Regards

Clarizza

Mia

October 17, 2016

Hi,

I would like to know if your bank charges monthly account service fee? And if yes, how much would this be and what does it actually cover?

Thank you

Clarizza Fernandez Finder

October 17, 2016

Hi Mia,

Thanks for your question.

Please note, we are a comparison website and provide general advice only. The Australian Unity Easy Saver does not charge any monthly account keeping fees.

Regards,

Clarizza

Australian Unity Easy Saver

Pros

Cons

Key features

Total bonus interest rate of 5.1% p.a. for the first 4 months

Interest rate reverts to 4.1% p.a..

No account keeping fees

Must link to an Australian Unity transaction account

Maximum interest rate applies up to

No deposit or withdrawal restrictions

Smartphone app

Australian-based

How to apply

Eligibility

Documentation needed

What happens after I submit my application?

Sources

Your reviews

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