Bank of Melbourne savings and bank accounts
Bank of Melbourne has a range of bank accounts to suit different customers, including students, retirees and businesses.
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Bank of Melbourne savings accounts, bank accounts and term deposits
Bank of Melbourne savings accounts
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The Finder Score is a simple score out of 10. The higher a savings account's score, the better we think it is for the average customer.
We score each savings account in our database of hundreds based on a data-driven methodology with 2 main criteria: Does the account offer a high interest rate? And is it easy for savers to actually earn that rate?
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Bank of Melbourne bank accounts
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Bank of Melbourne term deposits
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Finder Score assigns Term Deposit products a score out of 10, comparing interest rates and features, to make comparison easier. We assess over 150 products from more than 90 providers, assessing products across different terms to determine an average score per product.
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Rates accurate as at: August 11th, 2026 Learn about our information service
Pros and cons of banking with Bank of Melbourne
Pros
- Variety of accounts for personal, student, business, retiree, and concession card customers
- Access to a large network of branches and ATMs
- No account-keeping fees on bank and savings accounts
Cons
- Branch and ATM network is largely limited to Victoria
- Savings account interest rates are generally less competitive than other banks
How to apply for a Bank of Melbourne savings account
Applying online for a new bank account is fast and easy. You'll need identity documents such as your driving licence or passport. For more about the process, check out our full guide to opening an account online.
Compare other products from Bank of Melbourne
- Bank of Melbourne credit cards
- Bank of Melbourne home loans
- Bank of Melbourne personal loans
- Bank of Melbourne business loans
- Bank of Melbourne home insurance
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Bank of Melbourne Retirement Access Plus Account
Australian seniors and pensioners have the chance to bank with ease through the Retirement Access Plus Transaction Bank Account from Bank of Melbourne.
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Bank of Melbourne Investment Cash Account
The Bank of Melbourne Investment cash Account has no monthly fees. This account is a cash hub to help you manage your investments. Read our review and apply online.
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Bank of Melbourne Incentive Saver
For Australians with long-term savings goals, the Bank of Melbourne Incentive Saver Account is worth considering.
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Bank of Melbourne Maxi Saver
The Maxi Saver can put your savings on the fast track with its competitive starter bonus interest rate. Compare with other banks to find the one that accelerates your savings towards your financial goals.
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Bank of Melbourne term deposit account
Bank of Melbourne term deposits enable you to start saving without investing too much money. Compare with term deposits offered by other banks before deciding.
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Bank of Melbourne Complete Freedom Transaction Account
$0 account keeping fee and free Visa debit card. Enjoy unlimited access to the Westpac ATM network when you're overseas.
Can I get a card please
Hi there, we’re a review and comparison site, you’ll need to contact Bank of Melbourne directly for customer service. You can reach them on 13 22 66.
how do I open an account on line?
Hi, you just need to complete the online application on the bank’s website. You’ll need to supply your personal details (name, address etc.) plus verify your identity.
Can Bank of Melbourne account holders use Westpac branches for over the counter transactions
Hi Bryan,
Unfortnightly you won’t be able to use Westpac branches for over the counter transactions. However you can use Westpac ATMs with Bank of Melbourne debit cards.
Thanks
Raj