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Summary

Earn 1.4% p.a. interest with no fees

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.

Pros

$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

Cons

Requires a linked Everyday Access account

Details

Key details

Product Name	Auswide Online Saver - Duplicate not is use
Maximum Variable Rate	1.40% p.a.
Standard Variable Rate	1.40% p.a.
Monthly Account Fee	$0
Minimum Opening Deposit	$0
Minimum Age	18

Key features

No monthly account keeping fees

Pay zero monthly account fees with the Online Saver account.

Earn 1.4% 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.

Launch savings calculator

How to apply

Eligibility

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.

Documentation needed

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 submit my application?

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.

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Auswide Bank Online Saver Account

Summary

Pros

Cons

Details

Key details