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Australian Mutual Bank savings and bank accounts

Are you a young adult, retired or just looking for a little more this Christmas? Australian Mutual Bank have a savings account to help you reach your savings goals.

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Australian Mutual Bank

Australian Mutual Bank savings and bank accounts

Name Maximum Variable Rate p.a. Standard Variable Rate p.a. Intro Period Government Guarantee Monthly Max Rate Conditions
Australian Mutual Bank Young Saver Account
Finder Award
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
5.50%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $5,000.
  • For under 18 years old
View details
Australian Mutual Bank iNet Savings Account
Maximum Variable Rate p.a.
2.55%
Standard Variable Rate p.a.
2.55%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
Australian Mutual Bank Savings Motivator Account
Maximum Variable Rate p.a.
4.65%
Standard Variable Rate p.a.
0.35%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1 or more each month
  • No withdrals
View details
Australian Mutual Bank Pensioner Aware
Maximum Variable Rate p.a.
2.20%
Standard Variable Rate p.a.
2.20%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Balance $49,201 and above
View details
Australian Mutual Bank Business iNet Saver Account
Maximum Variable Rate p.a.
2.55%
Standard Variable Rate p.a.
2.55%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
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Showing 5 of 5 results
Name Monthly fee Govt. Guarantee Own network ATM fee Card type
Australian Mutual Bank Transaction Account
Australian Mutual Bank logo
Google Pay Apple Pay Samsung Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
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Showing 1 of 1 results

Name 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a.
Australian Mutual Bank Term Deposit $5,000+
Australian Mutual Bank logo
$5,000 min. deposit$99,999 max. deposit
3 Mths p.a.
3.70%
4 Mths p.a.
3.75%
5 Mths p.a.
3.90%
6 Mths p.a.
4.15%
7 Mths p.a.
4.35%
12 Mths p.a.
4.60%
24 Mths p.a.
3.90%
Australian Mutual Bank Term Deposit - $100,000+
Australian Mutual Bank logo
3 Mths p.a.
3.75%
4 Mths p.a.
3.80%
5 Mths p.a.
3.95%
6 Mths p.a.
4.20%
7 Mths p.a.
4.40%
12 Mths p.a.
4.65%
24 Mths p.a.
3.95%
Australian Mutual Bank Term Deposit - $250,000+
Australian Mutual Bank logo
3 Mths p.a.
3.80%
4 Mths p.a.
3.85%
5 Mths p.a.
4.00%
6 Mths p.a.
4.25%
7 Mths p.a.
4.45%
12 Mths p.a.
4.70%
24 Mths p.a.
4.00%
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Showing 3 of 3 results
1 - 12 of 14
Name Maximum Variable Rate p.a. Standard Variable Rate p.a. Intro Period Government Guarantee Monthly Max Rate Conditions
Rabobank High Interest Savings Account
Maximum Variable Rate p.a.
5.75%
Standard Variable Rate p.a.
4.40%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
AMP Saver Account
Maximum Variable Rate p.a.
5.40%
Standard Variable Rate p.a.
1.20%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1000 in previous month
  • Balances up to $250,000
Go to siteView details
ING Savings Accelerator ($150,000 - $500,000)
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
4.70%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Welcome rate applies up to $500K
Go to siteView details
Bank of Queensland Simple Saver Account
Maximum Variable Rate p.a.
4.85%
Standard Variable Rate p.a.
4.85%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $5,000,000
Go to siteView details
Macquarie Savings Account
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
4.75%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
ME HomeME Savings Account
Maximum Variable Rate p.a.
5.55%
Standard Variable Rate p.a.
0.55%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $2000
  • Grow balance
  • Balances up to $100,000
Go to siteView details
Westpac Life (18-29 year olds only)
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
2.00%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Make a deposit
  • Grow your balance
  • 5 debit card purchases
  • Balances up to $30,000
Go to siteView details
ING Savings Maximiser
Finder Award
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.55%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1,000
  • 5 transactions
  • Grow your balance
  • Balances up to $100,000
Go to siteView details
IMB Reward Saver Account
Maximum Variable Rate p.a.
5.25%
Standard Variable Rate p.a.
0.00%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $50
  • No withdrawals
  • Balances up to $1,000,000
Go to siteView details
First Option Bank Savings+Bonus Account
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
2.00%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $100
  • No withdrawals
  • Balances up to $249,999
Go to siteView details
MyState Bank Bonus Saver Account
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
0.05%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $20
  • 5 debit card purchases
  • Balances up to $250,000
Go to siteView details
Newcastle Permanent Online Savings Account
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
1.00%
Intro Period
3 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
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Showing 12 of 14 results

Congratulations, Australian Mutual Bank!

Australian Mutual Bank Young Saver Account won the award for 'Young Adult Savings Account' in the 2024 Banking Product Awards.

Full list of 2024 winners

Quick facts about Australian Mutual Bank

  • The mutual has been operating in Australia since 1953.
  • On November 2021, Sydney Mutual Bank is rebranded to Australian Mutual Bank. Existing Sydney Mutual Bank customers were notified directly about changes to their banking.
  • Australian Mutual Bank is a Sydney based full service mutual bank with products to cater for all types of Australians.
  • As a mutual bank, it's owned by members not shareholders.
  • Deposits in Australian Mutual Bank are covered under the government's financial claims scheme.

What savings accounts are offered by Australian Mutual Bank?

  • iNetSaver Account

Get rewarded with one of Australian Mutual Bank’s highest rate of interest, the iNetSaver Account rewards you with more interest when you keep a balance over $2,000. This account does not include Debit or rediCARD access, manage your account online. Make an online transfers to a transaction account to withdraw the funds in the iNetSaver.

  • Savings Motivator Account

The Australian Mutual Bank Motivator gives you an Incentive to keep saving. Get rewarded with bonus interest when you make deposits and no withdrawals each month. This account does not offer ATM access.

  • Pension Aware Accounts

Australian Mutual Bank’s savings account for pensioners and retirees. Internet and telephone banking allows you to make BPAY payments and transfer money to other accounts. Use the rediCARD or get the Visa Debit Card to make online purchases as well as cash withdrawals. An overdraft facility can be attached to this account.

What term deposits are offered by Australian Mutual Bank?

  • Term Deposit Account

Invest in terms from 3 months to 5 years. Lock in your investment for a fixed return and get interest paid when the investment matures. Open a Australian Mutual Bank term deposits with $5,000 or more.


What are the pros and cons of banking with Australian Mutual Bank?

Pros

  • Bonus interest. Australian Mutual Bank provides you an incentive to save through bonus interest when you make regular deposits and no withdrawals.
  • Kid’s accounts. Australian Mutual Bank have a great range of savings products specifically tailored to meet the needs of junior savers.

Cons

  • Limited branch access. Australian Mutual Bank offer a suite of tools so you can do your banking online or over the phone; however, there is a limited number of Australian Mutual Bank branches if you wish to do your banking in person, especially outside of Sydney.
  • Dated online banking. Australian Mutual Bank online banking lacks to the fresh and new look and feel of other online banking facilities, such as Commbank for example.

How do I apply for a Australian Mutual Bank account?

You must already be a Australian Mutual Bank member to apply for a savings or investment account. Australian citizens and permanent residents are eligible to become members. You can become a Australian Mutual Bank member online.

  • Eligibility

You must be over 18 to become a Australian Mutual Bank member.

You must be registered on the electoral role or in the telephone book.

  • Identity

Make sure you have your passport, driver's licence or medicard on hand to complete the identification requirements of the Australian Mutual Bank membership application.

If you haven't found what you're looking for yet, you can compare a wide range of additional savings accounts and bank accounts from other providers with Finder.

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Written by

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. See full profile

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