Compare Bank of Sydney Savings Accounts

Open a transaction account, savings account or a term deposit depending on your needs.

Bank of Sydney began operations under a full banking licence in April 2001, and now has branches in Sydney, Melbourne and Adelaide. It offers a range of products and services related to personal banking, business banking and international banking. Also, it provides various insurance solutions as well. The Bank of Beirut acquired the Bank of Sydney in 2011.

Rates last updated December 19th, 2017
$
Name Product Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly Account Fee Product Description
Bank of Sydney EveryDay Saver Account
Visa
$0
A unique transaction account that awards you a high interest rate, with all the flexibility of an everyday account.
Bank of Sydney Retirement Account
Visa
$2
$0
Everyday bank account that offers retirees over 55 years an easy way of banking.
Bank of Sydney Student Transaction Account
Visa
$0
$0
A flexible, student bank account with a linked Visa debit card.

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Rates last updated December 19th, 2017
$
$
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
Bank of Sydney SuperRate Account
2.80%
1.75%
1.05%
$0
$0 / $0
Introductory rate of 2.80% p.a. for 4 months, reverting to a rate of 1.75% p.a. Available on balances below $250,000.
Bank of Sydney SmartNet
2.10%
2.10%
$0
$25,000 / $1
A business everyday transaction account that earns interest.
Bank of Sydney Student Savings Account
1.85%
1.85%
0.00%
$0
$0 / $1
Available for students under 18 years of age and want to earn interest on their transaction account.

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Rates last updated December 19th, 2017
$
Name Product 3 Mths p.a. 4 Mths p.a. 6 Mths p.a. 12 Mths p.a. 24 Mths p.a. 36 Mths p.a. 48 Mths p.a. 60 Mths p.a. Min Deposit Interest Earned
Bank of Sydney Term Deposit
2.65%
-
-
-
-
-
-
-
$1,000
Bank of Sydney Foreign Currency Term Deposit
0.40%
-
0.50%
0.60%
-
-
-
-
$5,000

Compare up to 4 providers

Rates last updated December 19th, 2017
$
Name Product Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly Account Fee Product Description
Bank of Sydney EveryDay Saver Account
Visa
$0
A unique transaction account that awards you a high interest rate, with all the flexibility of an everyday account.
Bank of Sydney Retirement Account
Visa
$2
$0
Everyday bank account that offers retirees over 55 years an easy way of banking.
Bank of Sydney Student Transaction Account
Visa
$0
$0
A flexible, student bank account with a linked Visa debit card.

Compare up to 4 providers

Rates last updated December 19th, 2017
$
$
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
Bank of Sydney SuperRate Account
2.80%
1.75%
1.05%
$0
$0 / $0
Introductory rate of 2.80% p.a. for 4 months, reverting to a rate of 1.75% p.a. Available on balances below $250,000.
Bank of Sydney SmartNet
2.10%
2.10%
$0
$25,000 / $1
A business everyday transaction account that earns interest.
Bank of Sydney Student Savings Account
1.85%
1.85%
0.00%
$0
$0 / $1
Available for students under 18 years of age and want to earn interest on their transaction account.

Compare up to 4 providers

Rates last updated December 19th, 2017
$
Name Product 3 Mths p.a. 4 Mths p.a. 6 Mths p.a. 12 Mths p.a. 24 Mths p.a. 36 Mths p.a. 48 Mths p.a. 60 Mths p.a. Min Deposit Interest Earned
Bank of Sydney Term Deposit
2.65%
-
-
-
-
-
-
-
$1,000
Bank of Sydney Foreign Currency Term Deposit
0.40%
-
0.50%
0.60%
-
-
-
-
$5,000

Compare up to 4 providers

Awards that Bank of Sydney has earned

  • Randwick City Business Excellence Awards, 2015. The bank’s Kingsford Branch team won in the Professional Services category.

Who is Bank of Sydney?

Its range of transaction accounts give you access to funds according to your needs. If you’re considering getting on the savings bandwagon, you can choose to open to savings account or a term deposit.

What about the mobile app?

Image Source: App Store
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FX calculatorLocating the near ATM
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What transaction accounts are offered by Bank of Sydney?

  • Everyday Saver

This everyday account gives you the ability to earn interest, and you don’t have to pay any account keeping fees. You can link this account to a Visa debit card to get easy access to funds in your account, and you can benefit from free unlimited ATM and EFTPOS transactions.

  • SmartNet

This account also enables you to earn interest and it does not attract any account keeping fees. This is essentially an online account which gives you free unlimited online banking transactions and five free other transactions per month. You can access funds in your account using a cheque book, using a Visa debit card, and by visiting a branch.

  • Retirement Account

This account is for independent retirees and pensioners over 55 years of age, and offers tiered interest rates. It does not charge any account keeping fees, and comes with a Visa debit card.

  • Student Savings Account

This account does not charge any transaction fees for EFTPOS transactions and ATM withdrawals, and students under 18 years of age can apply. This card does not charge account keeping fees, and account holders stand to earn interest.

  • Student Transaction Account

This account does not offer any interest, and it does not charge account keeping fees. Account holders can access funds in their accounts using a Visa debit card or by visiting a branch, although the latter attracts a fee.

What high interest savings accounts are offered by Bank of Sydney?

  • SuperRate Account

If you have $250,000 or more in this account, you stand to earn bonus interest for the first four months from account opening. To qualify for the bonus interest, you should have a Bank of Sydney transaction account, and use it to transfer $200 or more per month to your SuperRate account by setting up periodical payments. These periodical payments must take place in all four months.

What term deposits are offered by Bank of Sydney?

  • Term Deposits

Bank of Sydney offers term deposits of terms ranging from one month to thirteen months, and to open one you require a minimum investment of $1,000. These term deposits don’t attract any account keeping fees, and you get the option of automatic rollovers.

  • Foreign Currency Term Deposits

You can choose to open a term deposits with Bank of Sydney using foreign currency. Currencies Bank of Sydney accepts include American Dollars, Euros, Great Britain Pounds, and New Zealand Dollars. You also have the option of terms from one month, two months, three months, six months, and 12 months.

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What are the pros and cons of banking with Bank of Sydney?

Pros

  • Numerous choices. Bank of Sydney gives you a number of options from which to choose, so you can expect to find an account in accordance to your specific requirements.
  • Foreign currency fixed deposits. Not many financial institutions accept fixed deposits in foreign currencies, but this is one of the many benefits you can look forward to as a Bank of Sydney customer.
  • Branch and ATM network. Bank of Sydney has a number of branches in Sydney and Melbourne, and it has a branch in Adelaide as well. Bank of Sydney customers also get to access the Australia wide rediATM network of over 3,000 ATMs for free.

Cons

  • No branches elsewhere. The absence of branches outside of Sydney, Melbourne, and Adelaide can work as a drawback, especially for customers who wish to bank in person.
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How do I apply for Bank of Sydney account?

Before applying for a Bank of Sydney account, it is important that you compare the features against what other providers are offering to ensure it best meets your personal needs. If you believe a Bank of Sydney account is the best fit for you, simply click on the ‘Go to Site’ button to apply online, but make sure you meet the following eligibility criteria before you apply.

Eligibility to apply online

  • You reside in Australia
  • You meet account specific minimum age requirements

Documentation

To apply, you’ll need to provide the following.

  • Acceptable identification documents like your Australian driver’s license, passport, proof of age card, or Medicare card
  • Personal details like your complete name, date of birth, residential address, phone number, and email address
  • Your country of birth and nationality
  • Your occupation and your employer’s name
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Read more on this topic

Savings Account Offers

Learn about our information service
HSBC Serious Saver

Maximum Variable Rate

3.00

Standard Variable Rate

1.60
Bankwest Hero Saver

Maximum Variable Rate

2.60

Standard Variable Rate

0.01
Bank Australia Bonus Saver Account

Maximum Variable Rate

2.60

Standard Variable Rate

0.15
ME Online Savings Account

Maximum Variable Rate

2.95

Standard Variable Rate

1.30

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