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Summary

Maintain the minimum balance in your eMax online savings account and see a higher rate of return each month.

Gateway Bank Ltd makes it easy to meet the terms for high interest earnings with its online account. There is no limit to the number of deposits or withdrawals you make, but a competitive interest rate is applied to your deposit if you can meet and maintain a minimum balance requirement. Plus, watch your savings grow faster with the benefit of compound interest.

Pros

Unlimited withdrawals and deposits
Access your account anytime via Internet banking
Pay your bills via BPay
Higher interest on balance for $1,000 or more

Cons

An interest of only 0.01% on balances under $1,000

Details

Key details

Product Name	Gateway Bank Ltd eMax Saver
Maximum Variable Rate	3.45% p.a.
Standard Variable Rate	0.10% p.a.
Monthly Account Fee	$0
Minimum Opening Deposit	$0
Minimum Age	18

Key features

Interest rate

A competitive interest rate is applied to balances over $1,000. A nominal base rate is issued when your balance falls below that amount.

Interest payment frequency

Interest is calculated daily and paid into your account on the last day of each month.

Monthly account-keeping fee

You won't be charged any fees for the maintenance of your savings account.

Accessing your funds

You have access to your account through internet and mobile banking, CUE Call, BPAY, direct debit and credit, periodical payments, in branch and with CBA deposits slips (if you're already a holder of CBA deposit slips).

CUE Call

This feature allows you to transfer money from a nominated account with the same membership number into and out of your savings account.

Gateway 2go

Gateway Bank Ltd has an app that lets you access your account from your smartphone. Gateway 2go is available to download from the iTunes App Store or Google Play Store, and it lets you see your account, use calculators and find the nearest ATM. There is a daily transaction limit of $1,000 when using the app.

How to apply

Eligibility

If you're already a member of Gateway Bank Ltd, you can call or email to apply for your new eMax Saver High Interest Savings Account. Before getting started, check that you meet the following eligibility requirements:

Minimum age. There are no age requirements for becoming a Gateway Bank Ltd member.
Residency requirements. You must have a residential address in Australia to apply.

Depository requirements. There is no minimum opening balance requirement, but you'll need to maintain a balance of at least to benefit from a high interest savings account.

Documentation needed

If you qualify to become a member and take advantage of the eMax Saver High Interest Savings Account, gather together the following documentation before heading to the credit union to begin your application:

Tax file number (TFN). While your TFN is not required, tax on your interest earnings will be withheld at the highest marginal rate if you choose to not provide it.
Identification. In order to verify your identity, you will have to bring with you a driver's licence, passport or your Medicare card.

What happens after I submit my application?

Once a member of Gateway Bank Ltd, you're allowed to benefit from any of its financial products, including the eMax Saver High Interest Savings Account. Once your account has been activated, you can start making deposits.

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Newcastle Permanent Smart Saver Account - Under 25s	Maximum Variable Rate p.a. 5.00%	Standard Variable Rate p.a. 0.05%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions Grow balance No more than 2 withdrawals	Go to site View details Compare	An easy way for young savers to earn a solid interest rate without jumping through too many hoops.	loading Fetching your data...
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ING Savings Accelerator ($150,000 - $500,000)	Maximum Variable Rate p.a. 5.20%	Standard Variable Rate p.a. 4.70%	Intro/Ongoing 4 months	Government Guarantee	Monthly Max Rate Conditions Welcome rate applies up to $500K	Go to site View details Compare	loading Fetching your data...
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IMB Reward Saver Account	Maximum Variable Rate p.a. 5.25%	Standard Variable Rate p.a. 0.00%	Intro/Ongoing 4 months	Government Guarantee	Monthly Max Rate Conditions Deposit $50 No withdrawals Balances up to $1,000,000	Go to site View details Compare	Earn up to 3.25% p.a. after the introductory period ends.	loading Fetching your data...
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Gateway eMax Saver High Interest Savings Account