Compare First Option Bank Savings Accounts

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First Option Bank savings accounts, transaction accounts and term deposits

First Option Bank savings accounts

7 of 7 results

Finder Score	Maximum interest rate	Base interest rate	Max rate type & duration	Monthly max rate conditions
Finder score 8.8 Great First Option Bank Save Account	Finder score 8.8 Great	Maximum Variable Rate p.a. 4.60%	Standard Variable Rate p.a. 2.80%	Intro/Ongoing 4 month intro rate	Balance up to $250,000	More info Compare product selectionCompare	loading
Finder score 8.7 Great First Option Bank Kids Bonus Saver	Finder score 8.7 Great	Maximum Variable Rate p.a. 4.80%	Standard Variable Rate p.a. 0.05%	Intro/Ongoing Ongoing rate (conditions apply)	Balance $1 to $5,555 Aged under 18 Deposit $5 each month No withdrawals	More info Compare product selectionCompare	loading
Finder score 8.5 Great First Option Bank Savings+Bonus Account	Finder score 8.5 Great	Maximum Variable Rate p.a. 4.25%	Standard Variable Rate p.a. 1.75%	Intro/Ongoing Ongoing rate (conditions apply)	Balance $1 to $249,999 Deposit $100 No withdrawals	More info Compare product selectionCompare	loading
Finder score 8.1 Great First Option Bank Cash Management Account	Finder score 8.1 Great	Maximum Variable Rate p.a. 2.25%	Standard Variable Rate p.a. 2.25%	Intro/Ongoing Ongoing rate (conditions apply)	Balance from $250,000	More info Compare product selectionCompare	loading
Finder score 7 Great First Option Bank GST / Tax Saver Account	Finder score 7 Great	Maximum Variable Rate p.a. 0.50%	Standard Variable Rate p.a. 0.50%	Intro/Ongoing Ongoing rate (conditions apply)		More info Compare product selectionCompare	loading
Finder score 7 Great First Option Bank Special Purpose Account	Finder score 7 Great	Maximum Variable Rate p.a. 0.50%	Standard Variable Rate p.a. 0.50%	Intro/Ongoing Ongoing rate (conditions apply)		More info Compare product selectionCompare	loading
Finder score 7.5 Great First Option Bank Christmas Saver Account	Finder score 7.5 Great	Maximum Variable Rate p.a. 1.75%	Standard Variable Rate p.a. 1.75%	Intro/Ongoing Ongoing rate (conditions apply)	Balance from $1	More info Compare product selectionCompare	loading

Showing 7 of 7 results

How the Finder Score helps you find a better savings account

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?

Read the full breakdown

Want more interest on your savings?

Compare now and find a better rate.

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First Option Bank transaction accounts

3 of 3 results

Finder Score	Monthly fee	Govt. Guarantee	Own network ATM fee	Card type
Finder score 8.1Great First Option Bank Spend Account Apple Pay Google Pay Samsung Pay	Finder score 8.1Great	Monthly fee $5	Government Guarantee	Own network ATM fee $0	Card type Visa	More info Compare product selectionCompare	loading
Finder score 8.3Great First Option Bank Bills Account Apple Pay Google Pay Samsung Pay	Finder score 8.3Great	Monthly fee $5	Government Guarantee	Own network ATM fee $0	Card type Visa	More info Compare product selectionCompare	loading
Finder score 8.8Great First Option Bank Mortgage Offset Account Apple Pay Google Pay Samsung Pay	Finder score 8.8Great	Monthly fee $0	Government Guarantee	Own network ATM fee $0	Card type Visa	More info Compare product selectionCompare	loading

Showing 3 of 3 results

Finder Score for bank accounts

We assess multiple product features for transaction accounts from over 100 providers and assign each product a score out of 10.

Read the full methodology

Looking for a better bank account?

Compare everyday accounts and find one that works harder for you.

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First Option Bank term deposits

8 of 8 results

Finder Score	3 Mths p.a.	6 Mths p.a.	10 Mths p.a.	12 Mths p.a.	24 Mths p.a.
Finder Score 8.6 Great First Option Bank Term Deposit - $1,000+ $1,000 min. deposit $24,999 max. deposit	Finder Score 8.6 Great	3 Mths p.a. 3.75%	6 Mths p.a. 3.65%	10 Mths p.a. -	12 Mths p.a. 3.75%	24 Mths p.a. 3.70%	More info Compare product selectionCompare	loading
Finder Score 9 Excellent First Option Bank Term Deposit - $25,000+ $25,000 min. deposit $499,999 max. deposit	Finder Score 9 Excellent	3 Mths p.a. 3.95%	6 Mths p.a. 3.90%	10 Mths p.a. -	12 Mths p.a. 3.90%	24 Mths p.a. 3.70%	More info Compare product selectionCompare	loading
Finder Score 8.8 Great First Option Bank Term Deposit - $500,000+ $500,000 min. deposit	Finder Score 8.8 Great	3 Mths p.a. 4.00%	6 Mths p.a. 4.00%	10 Mths p.a. -	12 Mths p.a. 3.95%	24 Mths p.a. 3.70%	More info Compare product selectionCompare	loading
Finder Score 7.6 Great First Option Bank Income Term Deposits - $25,000+ $25,000 min. deposit $499,999 max. deposit	Finder Score 7.6 Great	3 Mths p.a. -	6 Mths p.a. -	10 Mths p.a. -	12 Mths p.a. 3.80%	24 Mths p.a. 3.60%	More info Compare product selectionCompare	loading
Finder Score 7.3 Great First Option Bank Income Term Deposit - $500,000+ $500,000 min. deposit	Finder Score 7.3 Great	3 Mths p.a. -	6 Mths p.a. -	10 Mths p.a. -	12 Mths p.a. 3.85%	24 Mths p.a. 3.60%	More info Compare product selectionCompare	loading
Finder Score 8.6 Great First Option Bank Business Term Deposits - $1,000+ $1,000 min. deposit $24,999 max. deposit	Finder Score 8.6 Great	3 Mths p.a. 3.75%	6 Mths p.a. 3.65%	10 Mths p.a. -	12 Mths p.a. 3.75%	24 Mths p.a. 3.70%	More info Compare product selectionCompare	loading
Finder Score 8.6 Great First Option Bank Business Term Deposits - $25,000+ $25,000 min. deposit $500,000 max. deposit	Finder Score 8.6 Great	3 Mths p.a. 3.95%	6 Mths p.a. 3.90%	10 Mths p.a. -	12 Mths p.a. 3.90%	24 Mths p.a. 3.70%	More info Compare product selectionCompare	loading
Finder Score 8.8 Great First Option Bank Business Term Deposits - $500,000+ $500,000 min. deposit $1,000,000 max. deposit	Finder Score 8.8 Great	3 Mths p.a. 4.00%	6 Mths p.a. 4.00%	10 Mths p.a. -	12 Mths p.a. 3.95%	24 Mths p.a. 3.70%	More info Compare product selectionCompare	loading

Showing 8 of 8 results

Finder Score for term deposits

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.

Read the full methodology

Lock in a great rate

Compare term deposits to grow your savings with confidence.

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Congratulations, First Option Bank!

The First Option Bank Kids Bonus Saver was highly commended for Best Kids Savings Account in the 2025 Finder Awards.

Full list of 2025 winners

What are the pros and cons of banking with First Option Bank?

Pros

Online banking. First Option offers Internet banking and a mobile banking app, allowing you to conduct most of your day-to-day banking online.
Kids account. The interest rate offered on the savings account for kids is highly competitive, giving them an opportunity to grow their pocket money rapidly.
No fees. With the majority of savings accounts offered, you will not be charged a monthly account keeping fee.
Diversity. First Option offers members a number of specialised accounts to meet your various needs.

Cons

Membership fee. A $5 monthly membership fee will apply unless your total account balances exceed $1,000 or you have a credit card or loan with the bank.
Less branches and ATMs. Compared to the bigger banks you'll find less bank branches and ATMs for First Option Bank.

How to apply for a First Option Bank 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.

Sources

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Written by

Shirley Liu

Publisher

Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs. See full bio

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Compare First Option Bank savings accounts

First Option Bank offers a large list of savings accounts to choose from, based on your savings purpose.

First Option Bank savings accounts, transaction accounts and term deposits

First Option Bank savings accounts

How the Finder Score helps you find a better savings account

First Option Bank transaction accounts

Finder Score for bank accounts

First Option Bank term deposits

Finder Score for term deposits

Congratulations, First Option Bank!

What are the pros and cons of banking with First Option Bank?

Pros

Cons

How to apply for a First Option Bank savings account

Sources

Shirley Liu

Get rewarded $$ for switching with Finder Rewards

Ask a question

Read more on Bank Accounts

Compare First Option Bank savings accounts

First Option Bank offers a large list of savings accounts to choose from, based on your savings purpose.

First Option Bank savings accounts, transaction accounts and term deposits

First Option Bank savings accounts

How the Finder Score helps you find a better savings account

First Option Bank transaction accounts

Finder Score for bank accounts

First Option Bank term deposits

Finder Score for term deposits

Congratulations, First Option Bank!

What are the pros and cons of banking with First Option Bank?

Pros

Cons

How to apply for a First Option Bank savings account

Sources

Shirley Liu

Get rewarded $$ for switching with Finder Rewards

Ask a question

Read more on Bank Accounts

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