6.8

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Maximum variable rate: 1.25% p.a.
Base interest rate: 1.25% p.a.

Summary

Earn 1.25% 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

No monthly or transaction fees - Helps your savings grow faster without unnecessary costs.

Cons

No bonus interest.

Details

Key details

Product Name	Auswide Bank Online Saver
Maximum Variable Rate	1.25% p.a.
Standard Variable Rate	1.25% 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 1.25% 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.

Sources

Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you're getting accurate, up-to-date information. Articles are fact checked in line with our editorial guidelines.
1. Auswide Bank Online Saver Account information page
2. Auswide Bank Online Saver Account TMD

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Alison Finder

Editorial Manager, Money

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Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full profile

Auswide Bank Online Saver Account

Pros

Cons

Key features

No monthly account keeping fees

Earn 1.25% p.a. interest

Interest calculated daily

Online and phone banking

Unlimited sub accounts

Protected by the Australian Government deposit guarantee

Everyday Access Account

How to apply

Eligibility

Documentation needed

What happens after I submit my application?

Sources

Sources

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