In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question
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Bank Australia Bonus Saver Account

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Bank Australia Bonus Saver Account

This product is not currently available via Finder. Visit the provider's website directly, or compare other options.

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Maximum variable rate
5.25% p.a.
Base interest rate
0.1%p.a.
Minimum deposit
$100

Our verdict

Add $100 to your Bank Australia Bonus Saver and don't make any withdrawals during the month to earn a bonus interest rate of 5.15% p.a.

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Finder Awards winner
Green Award

If you deposit at least $100 per month or don't make withdrawals, you'll receive 5.25% p.a. for the month.

Pros

  • Incentive to save
  • At-call access to savings
  • Telephone and internet banking available

Cons

  • Conditions apply to earning bonus interest with withdrawal limitations

In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question

Bank Australia’s Bonus Saver helps you to practice good saving habits by paying a higher rate of interest when you make a minimum monthly deposit without any withdrawals for the month. This will give you the encouragement you need to build your savings and meet your financial goals. The bonus rate applies to the entire balance.

Details

Key details

Product Name Bank Australia Bonus Saver Account
Maximum Variable Rate 5.25% p.a.
Standard Variable Rate 0.10% p.a.
Monthly Account Fee $0
Minimum Opening Deposit $0
Minimum Age 18

Key features

$0 minimum ongoing balance

You are not required to maintain any minimum balance in order to keep this account active.

$0 monthly account keeping fee

There is never a monthly charge for maintaining this account.

Launch savings calculator


How to apply

If you are already a member of Bank Australia you can complete an application for the Bonus Saver through their online banking network.

Eligibility

Before you begin, ensure that you meet the following eligibility requirements:

  • Minimum age. In order to apply online for membership and the Bonus Saver account you must be at least 18 years of age.
  • Residency requirements. You need to be an Australian resident for tax purposes with a residential address.

Compare other savings accounts

1 - 10 of 188
Name Maximum Variable Rate p.a. Standard Variable Rate p.a. Intro/Ongoing 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/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
Ubank High Interest Save Account
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.00%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $500
  • Savings up to $100,000
Go to siteView details
Bank of Queensland Simple Saver Account
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
4.85%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $5,000,000
Go to siteView details
Newcastle Permanent Online Savings Account
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
1.00%
Intro/Ongoing
3 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
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/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Welcome rate applies up to $500K
Go to siteView details
Macquarie Savings Account
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
4.75%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
ING Savings Maximiser
Finder Award
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.55%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1,000
  • 5 transactions
  • Grow your balance
  • Balances up to $100,000
Go to siteView details
Eligible customers can receive $50 cashback when they open an Orange Everyday and a Savings Maximiser account together before 31st July 2024. Customers must make 5 settled transactions and keep the accounts active for 60 days from opening.
ME HomeME Savings Account
Maximum Variable Rate p.a.
5.55%
Standard Variable Rate p.a.
0.55%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $2000
  • Grow 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/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $50
  • No withdrawals
  • Balances up to $1,000,000
Go to siteView details
BCU Bonus Saver
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
1.00%
Intro/Ongoing
4 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
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Alison Finder

Editor

Hi there, looking for more information? Ask us a question.

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Avatar

Vl

April 03, 2018

Hello,


I have not heard of your bank before and looking at your website cannot find any information about who you are, where you are based and what your IBN is etc. This is unusual for an Australian banking institution.


Could you please direct me to a webpage etc. where the relevant information is available.


kind regards

Vl


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Avatar

Joanne Finder

April 03, 2018

Hi VI,


Thanks for reaching out.


You may click on the green button that says “go to site” found at the top of this page. The contact us page on their website should lead you to Bank Australia’s address, contact information etc.


Cheers,

Joanne


Avatar

Mia

March 03, 2018

What is the maximum withdrawal amount for Bank Australia Bonus Saver Account?


Avatar

Jhezelyn Finder

March 06, 2018

Hi Mia,


Thank you for your comment.


The daily limit for withdrawals are indicated below:

– ATM/EFTPOS cash withdrawal is $1,000

– Internal transfers is $50,000

– External transfers is $2,000

– International transfers is $2,000


Hope this helps.


Regards,

Jhezelyn


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Avatar

Belinda

September 12, 2017

I am looking at this as an option to save for an annual holiday. Can you please advise the options that would be available to pay for the holiday using this account (I don’t have any other accounts with this bank)?

Thanks,

Belinda


Avatar

Joanne ibarreta Finder

September 13, 2017

Hi Belinda,


Thanks for reaching out.


A high-interest savings account (also known as a savings account or online savings account) is an account that offers a competitive interest rate. It is similar to a bank account, but it is designed to help you save money, rather than spend money. Typically, interest is a compound interest that is calculated daily and paid monthly. All savings accounts come with a free, 24/7 online banking platform to access your funds.


You can compare different high-interest savings account using our comparison table. Simply enter your initial and monthly deposit as well as your preferred term. When you are ready, you may then click on the “Go to site” button and you will be redirected to the bank’s website where you can proceed with the application or get in touch with their representatives for further inquiries you may have.


Before applying, please ensure that you read through the relevant Product Disclosure Statements/Terms and Conditions when comparing your options before making a decision on whether it is right for you. You can also contact the provider if you have specific questions.


Cheers,

Joanne


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Avatar

Gregg

May 27, 2017

Can I have more than one Bonus Saver account? For example, one for me and one for my wife?


Avatar

Jhezelyn Andoy Finder

May 31, 2017

Hi Gregg,


Thanks for your inquiry.


There are various requirements to comply before you can obtain a Bank Australia Bonus Saver. Due to an identity verification process for the application, you may consider letting your spouse apply for the Bank Australia Bonus Saver. You cannot have more than one Bonus Saver account under your name however you can apply for other products or accounts offered by Bank Australia.


If you’re considering opening an account with your spouse, joint bank accounts are an option. These accounts allow anyone linked to them to make deposits and withdrawals. In opening a joint savings account, you will need to contact the bank directly by phone for extra assistance. Once you have submitted your application, you have to wait for your identity to be verified before receiving your account details. Please simply click the “”Go to Site”” green button to be redirected to the official website of Bank Australia.

I hope this helps.


Regards,

Jhezelyn


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Avatar

Mia

February 17, 2017

Hi Shirley,


Could you please tell me the following:

– Cancellation/ Closing Account fee

– Any other fee tied with this account?


Could you also explain what is meant by “Covered by Government Guarantee?”.


Thank you


Avatar

Anndy Lou Finder

February 19, 2017

Hi Mia,


Thanks for your question.


For Bank Australia Bonus Saver Account, it does not charge any fees for account closing or cancellation. It also has $0 monthly account keeping fee.


If the account has “Government Guarantee” which is normally up to $250,000 per person per institution, it means that if the bank goes bankrupt, you are protected up to the balance of $250,000. Any deposit more than that amount is at risk.


Cheers,

Anndy


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