9.5

Finder Score

Excellent

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Maximum variable rate: 4.35% p.a.
Base interest rate: 0.50% p.a.

Summary

This savings account offers an ongoing bonus interest rate with minimal conditions to meet.

The BCU Bank Power Saver Account offers bonus interest each month you meet the account conditions. You can earn up to 4.35% p.a. by simply depositing $100 per month and making no withdrawals.

The variable bonus rate is available on large balances up to $250,000.

Pros

Ongoing bonus rate available each month
Small monthly deposit requirement of $100
Earn interest on large balances

Cons

To earn bonus interest you can’t make any withdrawals

Details

Product details

Product Name	BCU Bank Power Saver
Maximum Variable Rate	4.35% p.a.
Standard Variable Rate	0.50% p.a.
Monthly Account Fee	$0
Minimum Opening Deposit	$0
Minimum Age	18

Key features

Ongoing, variable interest rate up to 4.35% p.a.

You'll earn an ongoing, variable interest rate of up to 4.35% p.a. when you meet the following conditions:

Deposit $100 per month
Make no withdrawals

The variable bonus rate is available for balances up to $250,000.

Standard variable rate of 0.5% p.a.

If you don't meet the account conditions one month you'll earn the standard variable rate of 0.5% p.a. on your balance that month. You'll be eligible for the bonus rate the following month if you meet the conditions.

Balances above $250,000 will also earn the standard variable rate.

Open up to 3 accounts

You can open up to 3 Power Saver accounts to help you separate your money and save for different goals. The bonus interest rate will be applied to your combined balance of up to $250,000.

Round up your daily purchases

BCU Bank's Pay&Save feature allows you to round up your daily transactions made from your BCU Transaction Account to the nearest $1, $5 or $10 value and have the difference sent straight to your Power Saver account. You can turn this feature on and off at any time via the mobile banking app.

Government guarantee

Your deposit up to $250,000 is protected by the Australian Government Guarantee Scheme.

Launch savings calculator

How to apply

Complete the online application to create a new account in minutes.

Eligibility

You need to be an Australian resident
You need to be at least 18 years old
You'll need at least 2 of the following forms of ID: Australian passport, driver's licence or Medicare card.

Go to site More info

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. BCU Bank Power Saver Account information page
2. BCU Bank Power 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

BCU Bank Power Saver Account

Pros

Cons

Key features

Ongoing, variable interest rate up to 4.35% p.a.

Standard variable rate of 0.5% p.a.

Open up to 3 accounts

Round up your daily purchases

Government guarantee

How to apply

Sources

Sources

Your reviews

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