If you have an Everyday Account with Auswide Bank you can open an Online Saver account to earn interest at a competitive rate without having to meet any deposit or balance terms, and without needing to pay any fees.
What are the features of the Auswide Bank Online Saver account?
Compare the features offered by Australian savings accounts and choose one that works for your savings goals. The Auswide Bank Online Saver account delivers features including:
No monthly account keeping fees.
Pay zero monthly account fees with the Online Saver account.
Earn 1.75% p.a. interest
No minimum deposit or balance requirements need to met to earn interest. The interest rate is variable, which means it could change according to the movements of the RBA cash rate.
Interest calculated daily
The interest is calculated on the daily balance and then deposited into the account monthly.
Online and phone banking
Conduct telephone and online transactions through your Online Saver account with no fees or charges.
Unlimited sub accounts
Open an unlimited number of sub accounts to manage your savings in more detail
Protected by the Australian Government deposit guarantee
Up to $250,000 of deposits covered under the Financial Claims Scheme
Everyday Access Account
You are required to have a linked Everyday Access account with Auswide bank before you can open an Online Saver account.
- $0 account keeping fee and no transaction fees
- Earn interest without any special requirements
- Access your money through internet and phone banking
- No minimum balance or deposit requirements
- Requires a linked Everyday Access account
How do I apply for the Auswide Bank Online Saver account?
Ensure you meet eligibility requirements before applying:
- Minimum age. In order for an online application form to be accepted you must be at least 18 years of age.
- Residency requirements. You need to be an Australian permanent resident or citizen in order to apply for an Online Saver account.
- Depository requirements. There are no depository requirements for the Online Saver account.
Have the following close at hand to make your application quicker:
- Tax file number. Providing your tax file number (TFN) or exemption code is not obligatory, yet it will help in ensuring that the correct tax rate is being applied to your interest earnings.
- Identification. Auswide Bank is required by law to verify your identity before an account can be activated in your name. You will require personal identification, such as a driver's license or passport, to open an account.
- Linked account. Auswide Bank will need the details of your Everyday Access Account so that the two may be linked together.
What happens after I open an account?
Allow three working days for Auswide Bank to process your application and send you account information. After this, you can start accessing it and making transactions.