Australian Unity Easy Saver

Last updated: Sep 30, 2020

With a competitive introductory interest rate and no hidden fees, the Australian Unity Easy Saver can help you grow your savings balance as quickly as possible.

The Australian Unity Easy Saver offers a bonus interest rate of 0.8% p.a. on top of the standard variable rate for a 4-month introductory period. The account reverts to the standard variable rate after those 4 months, and there are no ongoing fees that will eat into your account balance.

1.3% p.a.

Maximum variable rate

0.5% p.a.

Base interest rate

0.8% p.a.

Bonus interest rate

for 4 months

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Product Name	Australian Unity Easy Saver
Maximum Variable Rate	1.3% p.a.
Standard Variable Rate	0.50%
Bonus Variable Rate	0.80%
Monthly Account Fee	$0
Minimum Opening Deposit	$0
Minimum Age	16

Pros

No deposit or withdrawal restrictions
No account keeping fees
10% off Australian Unity health insurance

Cons

Must be linked to an Australian Unity transaction account

Shirley Liu

Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.

Key features

Bonus interest rate of 0.8% p.a. for the first 4 months

The Australian Unity Easy Saver offers a bonus interest rate of 0.8% p.a. in addition to the standard variable rate 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.

Then it reverts to 0.5% p.a.

Once the 4-month introductory period ends, the account earns the standard variable interest rate. The interest rate is variable, which means it could change according to the movements of the RBA cash 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 $250,000

The Australian Unity Easy Saver account is available for savings balances of up to $250,000. 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.

New smartphone app

Australian Unity has a new 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.

10% Health insurance discount

If you open an Australian Unity Easy Saver account and also join Australian Unity health insurance, you will receive a 10% discount on home and contents insurance. You can compare other Australian Unity products here.

Australian-based

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

Launch savings calculator

How to apply

If the Australian Unity Easy Saver sounds like the perfect account to help you reach your savings goals, click on one of the "Apply now" links on this page. You will be securely redirected to the Australian Unity website where you can review the full details of the account and begin your application.

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.

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.

If you're looking for a savings account that offers a competitive interest rate and no ongoing fees, the Australian Unity Easy Saver is well worth a look. Compare its features and benefits with other introductory-rate savings accounts at finder.com.au today.

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11 Comments

S.Too
November 1, 2017

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

Reply
- Jonathan
  November 2, 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
  
  Reply
finder Customer Care

Clarizza
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

Reply
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?

Reply
- finder Customer Care
  
  Clarizza
  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
  
  Reply
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

Reply
- finder Customer Care
  
  Clarizza
  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
  
  Reply
Aus.
October 4, 2016

I believe Aus. Unity Easy Saver is same as Big Sky which pays 3 2 percent. Is this correct?

Reply
- finder Customer Care
  
  Clarizza
  October 5, 2016
  
  Hi Craig,
  
  Thanks for your question.
  
  Did you mean 3.2% interest? Australian Unity Easy Saver currently comes with a maximum variable interest rate of 2.90%. Big Sky has a number of savings account products so I’m unsure which one you are comparing the rate to. However, I can see that their Target Saver account comes with a 1.45% interest rate.
  
  Regards,
  Clarizza
  
  Reply
Alison
September 21, 2016

Are there any penalties for moving money out of this account after the four month introductory period?

Reply
- finder Customer Care
  
  Clarizza
  September 21, 2016
  
  Hi Alison,
  
  Thanks for your question.
  
  No, there are no fees or penalties for closing the account after the introductory period.
  
  Regards,
  Clarizza
  
  Reply

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