In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Your reviews
  • Ask a question
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Bank of Melbourne Investment Cash Account

Bank of Melbourne Investment Cash Account - DISCONTINUED
Maximum variable rate
1.00% p.a.
Base interest rate
1%p.a.

Our verdict

This account allows you to set up a flexible cash hub for your SMSF investments.

This could be the ideal setup for a Self Managed Super Fund (SMSF) account if you’d like your money separate from your personal cash.

Pros

  • $0 monthly account service fee
  • Free unlimited Internet banking every day

Cons

  • Limited withdrawals every month
  • Fees apply for phone banking transactions
  • Foreign currency fee applies on overseas transactions

In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Your reviews
  • Ask a question

By keeping your money secured inside of the Bank of Melbourne Investment Cash Account you still earn interest while you wait for your next big investment opportunity. This account allows for free on call withdrawals every month, so funds are accessible.

Details

Key details

Product Name Bank of Melbourne Investment Cash Account - DISCONTINUED
Maximum Variable Rate 1.00% p.a.
Standard Variable Rate 1.00% p.a.
Monthly Account Fee $0
Minimum Opening Deposit $0
Minimum Age 18

Key features

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Interest accrual

The money you have stored in the Investment Cash Account will be earning a competitive rate of interest. The rates are tiered so that the more money you have, the higher the interest rate.

Interest payments

Interest is calculated daily and paid into the account monthly allowing you to benefit from compound interest.


How to apply

If you have decided that this is the right account to manage your investment income from you can fill out an application online in just ten minutes.

Eligibility

Before you apply online, check the following eligibility requirements to make sure that you will qualify:

  • Minimum age. Applicants must be at least 14 years old to qualify for the Bank of Melbourne Investment Cash Account.
  • Residency requirements. You must be an Australian permanent resident or citizen.

Your reviews

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