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Compare Australian Unity bank accounts

Everything you need to know about Australian Unity savings, transaction and term deposit accounts.

With original roots in the “friendly societies” movement in the nineteenth century, Australian Unity is the product of a 1993 merger between the Manchester Unity International Order of Oddfellows and the Australian Natives’ Association.

Today, Australian Unity is a national organisation that provides healthcare, financial services and assisted living services to many Australians. Throughout its history, the organisation has had a strong focus on helping its members.

Compare Australian Unity personal banking below

Rates last updated December 18th, 2018
$
Name Product Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly Account Fee Product Description
Australian Unity Healthy Banking Everyday Account
Visa
$0
$1,000
10% discount off Australian Unity health insurance

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Rates last updated December 18th, 2018
$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned Product Description
Australian Unity Active Saver
2.80%
1.20%
1.60%
$0
$0 / $0
Ongoing, variable 2.80% p.a. when you deposit at least $250 and make no withdrawals. Available on balances up to $500,000.
Australian Unity Easy Saver
2.70%
1.70%
1.00%
$0
$0 / $0
Introductory rate of 2.70% p.a. for 4 months, reverting to a rate of 1.70% p.a. Available on balances up to $250,000.

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Rates last updated December 18th, 2018
$
Name Product Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly Account Fee Product Description
Australian Unity Healthy Banking Everyday Account
Visa
$0
$1,000
10% discount off Australian Unity health insurance

Compare up to 4 providers

Rates last updated December 18th, 2018
$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned Product Description
Australian Unity Active Saver
2.80%
1.20%
1.60%
$0
$0 / $0
Ongoing, variable 2.80% p.a. when you deposit at least $250 and make no withdrawals. Available on balances up to $500,000.
Australian Unity Easy Saver
2.70%
1.70%
1.00%
$0
$0 / $0
Introductory rate of 2.70% p.a. for 4 months, reverting to a rate of 1.70% p.a. Available on balances up to $250,000.

Compare up to 4 providers

Rates last updated December 18th, 2018
$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned Product Description
HSBC Serious Saver
3.10%
1.40%
1.70%
$0
$0 / $0
Introductory rate of 3.10% p.a. for 4 months, reverting to a rate of 1.40% p.a. Available on balances below $1,000,000.
Bank of Queensland Fast Track Saver Account
2.80%
0.50%
$0
$0 / $0
Ongoing, variable 2.80% p.a. when you link to an BOQ Day2Day Plus Account and deposit $1,000+ into the Day2Day account each month from an external account. Available on balances up to $250,000.
Bankwest Hero Saver
2.60%
0.01%
2.59%
$0
$0 / $0
Ongoing, variable 2.60% p.a. rate when you deposit at least $200 each month and make no withdrawals. Available on balances up to $250,000.
ING Savings Maximiser
2.80%
1.00%
1.80%
$0
$0 / $0
Ongoing, variable 2.80% p.a. when you link to an ING Orange Everyday bank account and deposit $1,000+ each month and make 5+ card purchases a month. Available on balances up to $100,000.
Bank of Queensland Fast Track Starter Account (for 14-24 year olds only)
4.00%
0.50%
3.50%
$0
$0 / $0
Only available to those aged 14-24. Ongoing, variable 4.00% p.a. when you link to an BOQ Day2Day Plus Account and deposit $200+ into the Day2Day account each month from an external account. Interest rate only applies for balances up to $10,000. Balances between $10,001 and $250,000 will earn an interest rate of up to 2.80% p.a. when deposit conditions are met.
AMP Saver Account
2.55%
2.10%
0.45%
$0
$0 / $0
Introductory rate of 2.55% p.a. for 4 months, reverting to a rate of 2.10% p.a. Available on balances below $5,000,000.
HSBC Flexi Saver Account
2.50%
1.25%
1.25%
$0
$0 / $0
Ongoing, variable 2.50% p.a. when you deposit $300+ each month (other conditions apply). Available on balances up to $5,000,000.
AMP SuperEdge Saver Account
2.05%
2.05%
0.00%
$0
$0 / $0
Link to your SMSF. Ongoing, variable 2.05% p.a. when you link to AMP SuperEdge Cash Account or a different transaction account for your SMSF in another bank. Available on the entire balance.
CUA eSaver Boost Account
2.75%
0.25%
2.50%
$0
$1 / $1
Ongoing, variable 2.75% p.a. when you make a total deposit of at least $250 and no withdrawals in a calendar month. Available on balances up to $500,000.
MyState Bank Bonus Saver Account
2.60%
0.80%
1.80%
$0
$0 / $0
Ongoing, variable 2.60% p.a. when you deposit at least $20 into the account each month and make five or more Visa Debit card transactions from a linked MyState transaction account.
AMP Bett3r Account
2.25%
1.50%
0.75%
$5
$0 / $0
With AMP's bundled Bett3r account, get three linked Pay, Spend and Save accounts. Earn a competitive, ongoing rate of up to 2.25% on your Save account balance when you deposit $2,000 into the Pay account each month from a source that is not another AMP Bank account.

Please note: The 2.25% maximum variable rate is earned only on your Save account balance. To calculate interest earned, enter your initial and monthly deposit amounts for the Save account only, not including any money that’ll be in your Spend or Pay account.

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Awards that Australia Unity has earned

Over the last few years, Australian Unity has won numerous awards for its financial, health and retirement living services:

  • Property Council of Australia’s Innovation & Excellence Awards 2016 - Best Retirement Living Development
  • Western Sydney Awards for Business Excellence - Finalist
  • Victoria’s Premier Design Awards 2015 - Finalist
  • Aged and Community Services Australia Awards 2008 - Finalist

What is Australian Unity?

Australian Unity focuses primarily on investment banking accounts, although it does also offer transaction accounts. Through a series of joint venture partnerships with other Australian companies, Australian Unity provides a diverse selection of national, regional, global and microcap equities, along with fixed interest investments and real estate investments.

Australian Unity takes a philosophical approach to investment that emphasises patience, gradual progress and long-term growth for their customers, rather than rapid overnight success. They maintain a staff of talented financial managers, tasked with making strategic investment decisions.

Australian Unity’s wide range of investment funds can accommodate investors with different investment timescales, needs and financial goals.

Along with their investment banking services, Australian Unity offers the Easy Saver savings account and the Australian Unity Healthy Banking Everyday transaction account.

What is internet banking like with Australian Unity?

Australian Unity offers online banking and a convenient smartphone app for both savings and transaction account holders. Using the app, customers can pay their bills, transfer money, manage their accounts and report a lost or stolen card. Australian Unity also offers digital wallet technology, allowing customers to use their mobile phone to pay for purchases at participating vendors.

Along with the mobile app, account holders can also access internet banking by logging on to Australian Unity’s website.

Australian Unity also provides a health insurance app where you can make claims on the go. It also has a Wiggles app to encourage kids to brush their teeth.

Health insurance login Making claims on-the-go is easy Wiggles app Encourage kids to brush their teeth
australian-unity-easy-claim australian-unity-2 australia-unity-3 australian-unity-4

Source: iTunes App Store

What transaction accounts are offered by Australian Unity?

The Australian Unity Healthy Banking Everyday transaction account is available to permanent residents of Australia who are at least 16 years old. Designed as an everyday account, it’s suitable for almost anyone. Key features include:

No monthly account fees

Customers who deposit at least per month are not required to pay the $5 monthly account fee.

Visa debit card with payWave

payWave allows cardholders to pay without swiping at participating locations.

Free ATMs

Australian Unity Healthy Banking Everyday transaction account holders have free access to over 3,800 rediATM machines located throughout the country.

Smartphone banking app

Australian Unity recently introduced a smartphone app, which can be used to manage accounts, transfer money, pay bills and report a lost or stolen debit card.

Digital wallet

At participating retailers, you can “tap and pay” with your smartphone.

10% off Australian Unity health insurance

As an added bonus, account holders receive a 10% discount if they choose to purchase a health insurance policy through Australian Unity.

What high interest savings accounts are available through Australian Unity?

Australian Unity offers the Easy Saver account, which offers a high introductory interest rate for balances of up to $250,000. Notable features include:

No deposit or withdrawal restrictions

Easy Saver account holders have easy 24/7 access to their money.

No account fees

Australian Unity does not charge a monthly account fee for Easy Saver accounts, regardless of the account balance.

Linked transaction accounts

Account holders can easily link their transaction account to move money back and forth from savings.

Smartphone banking app

Easy Saver accounts are fully compatible with Australian Unity’s banking app, which lets users pay bills and manage their money from anywhere.

10% off Australian Unity health insurance

Account holders receive a 10% discount if they purchase a health insurance policy through Australian Unity.

What term deposits are offered by Australian Unity?

Australian Unity offers a Wholesale Deposits investment option, an alternative to traditional term deposits. This fund invests in a range of term deposits, adding diversification and access to the institutional rate market. The funds have daily liquidity, and investors are not required to pay a break fee. Investors can also choose to switch back to other short-term fixed investments.

Wholesale Deposits investment is suitable for investors who:

  • Want a relatively high level of capital preservation
  • Want the ability to access their funds at will
  • Are looking to manage credit risk by diversifying from one asset class
  • Wish to diversify their portfolio with an asset class that isn’t linked to equity markets

What are the pros and cons of banking with Australian Unity?

Whether you’re opening a transaction account, a savings account or an investment account, banking with Australian Unity can offer several useful benefits. However, as with any bank, there are a few drawbacks as well.

The pros

  • No account fees
  • Access to free ATMs
  • Online banking via mobile app
  • 10% discount on Australian Unity health insurance
  • Australian Unity’s organisational focus on the wellbeing of their members
  • Access to financial advisement services

The cons

  • Limited selection of transactional and savings accounts
  • Organisational focus on senior citizens and retirees, rather than younger account holders
  • Transaction accounts have a monthly fee for account holders with a very low income (less than $1,000 a month)
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How do I apply for an Australian Unity account?

It is important to compare Australian Unity accounts against those offered by other providers to ensure you're selecting an account that best meets your needs. If you decide an Australian Unity account is best suited to your situation, you can apply online for the Australian Unity Healthy Banking Everyday transaction account or the Australian Unity Easy Saver account. The process can take as little as five minutes to complete, and your account will be created within just three business days.

Easy Saver savings account

To apply for an Easy Saver savings account, you’ll need to meet the following requirements:

  • You must be at least 16 years old
  • You must be a permanent resident of Australia
  • You’ll need a driver’s licence, Australian passport and Medicare card
  • You must not have previously held an Easy Saver account

Your account will become active within three business days of submitting your application.

Healthy Banking Everyday transaction account

To apply for a transaction account with Australian Unity, you’ll need to meet the following requirements:

  • You must be at least 16 years old
  • You must be a permanent resident of Australia
  • You’ll need a driver’s licence, Australian passport and Medicare card

Your account will be activated within three business days. Within 5-7 business days, you’ll receive a Visa debit card in the mail.

Savings Account Offers

Important Information*
ING Savings Maximiser

Maximum Variable Rate

2.80

Standard Variable Rate

1.00
AMP Saver Account

Maximum Variable Rate

2.55

Standard Variable Rate

2.10
Bankwest Hero Saver

Maximum Variable Rate

2.60

Standard Variable Rate

0.01
HSBC Serious Saver

Maximum Variable Rate

3.10

Standard Variable Rate

1.40

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2 Responses

  1. Default Gravatar
    BarryAugust 28, 2018

    Are the Australian Unity banking products covered by the Federal Gov’t guarantee?

    • finder Customer Care
      JhezelynAugust 28, 2018Staff

      Hello Barry,

      Thank you for your comment.

      Yes, Australian Unity is covered by the Australian Government guarantee on deposits covering up to $250,000 per person.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

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