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Compare Geelong Bank savings accounts

A wide array of savings products with lower fees and higher rates can help you be on the right track to a secure financial future.

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Geelong Bank

Founded in Geelong in 1974, Geelong Bank originally served the financial needs of Ford Motor Company employees. Through a number of mergers they expanded over the next 15 years, and by 1990 had begun offering savings products to all Australians regardless of employment. Although locally based, customers from all over the country are able to bank with Geelong Bank using features such as internet and phone banking.

Name Maximum Variable Rate p.a. Standard Variable Rate p.a. Intro Period Government Guarantee Monthly Max Rate Conditions
Geelong Bank Young Achiever Savings Account
Maximum Variable Rate p.a.
3.10%
Standard Variable Rate p.a.
1.30%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Make a deposit
  • No withdrawals
View details
Geelong Bank iSaver Account
Maximum Variable Rate p.a.
2.71%
Standard Variable Rate p.a.
1.35%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $200+ per month
View details
Geelong Bank Affinity Saver Account
Maximum Variable Rate p.a.
4.35%
Standard Variable Rate p.a.
0.00%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Restricted to eligible customers
  • Salary must be deposited
  • Interest applies on balances $2,000 to $100,000
View details
Geelong Bank Achieve Saver Account
Maximum Variable Rate p.a.
2.71%
Standard Variable Rate p.a.
1.31%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit minimum $50 per month
  • No more than one withdrawal per month
  • Balances $5,000 to $250,000
View details
Geelong Bank Online Saver Account
Maximum Variable Rate p.a.
1.50%
Standard Variable Rate p.a.
1.50%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
Geelong Bank Superfund Maximiser Account
Maximum Variable Rate p.a.
4.20%
Standard Variable Rate p.a.
4.20%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
Geelong Bank Senior Savers Account
Maximum Variable Rate p.a.
1.65%
Standard Variable Rate p.a.
1.65%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
Geelong Bank Early Bird Christmas Club Account
Maximum Variable Rate p.a.
2.20%
Standard Variable Rate p.a.
2.20%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
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Showing 8 of 8 results

Name Monthly fee Govt. Guarantee Own network ATM fee Card type
Geelong Bank Total Access Account
Geelong Bank logo
Apple Pay Google Pay
Monthly fee
$5
Government Guarantee
Own network ATM fee
$0
Card type
Visa
Geelong Bank Redi-Access Account
Geelong Bank logo
Apple Pay Google Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
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Showing 2 of 2 results

Name 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a.
Geelong Bank Fixed Term Deposit Investment Accounts
Geelong Bank logo
$500 min. deposit$4,999 max. deposit
3 Mths p.a.
0.25%
4 Mths p.a.
0.25%
5 Mths p.a.
0.25%
6 Mths p.a.
0.25%
7 Mths p.a.
-
12 Mths p.a.
0.25%
24 Mths p.a.
-
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Showing 1 of 1 results

1 - 12 of 12
Name Maximum Variable Rate p.a. Standard Variable Rate p.a. Intro Period Government Guarantee Monthly Max Rate Conditions
AMP Saver Account
Maximum Variable Rate p.a.
5.40%
Standard Variable Rate p.a.
1.20%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1000 in previous month
  • Balances up to $250,000
Go to siteView details
ING Savings Accelerator ($150,000 - $500,000)
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
4.70%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Welcome rate applies up to $500K
Go to siteView details
Bank of Queensland Simple Saver Account
Maximum Variable Rate p.a.
4.85%
Standard Variable Rate p.a.
4.85%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $5,000,000
Go to siteView details
Macquarie Savings Account
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
4.75%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Balances up to $250,000
Go to siteView details
ME HomeME Savings Account
Maximum Variable Rate p.a.
5.55%
Standard Variable Rate p.a.
0.55%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $2000
  • Grow balance
  • Balances up to $100,000
Go to siteView details
Westpac Life (18-29 year olds only)
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
2.00%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Make a deposit
  • Grow your balance
  • 5 debit card purchases
  • Balances up to $30,000
Go to siteView details
ING Savings Maximiser
Finder Award
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.55%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1,000
  • 5 transactions
  • Grow your balance
  • Balances up to $100,000
Go to siteView details
IMB Reward Saver Account
Maximum Variable Rate p.a.
5.25%
Standard Variable Rate p.a.
0.00%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $50
  • No withdrawals
  • Balances up to $1,000,000
Go to siteView details
MyState Bank Bonus Saver Account
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
0.05%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $20
  • 5 debit card purchases
  • Balances up to $250,000
Go to siteView details
Newcastle Permanent Online Savings Account
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
1.00%
Intro Period
3 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
St.George Maxi Saver
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
1.10%
Intro Period
3 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
Max Variable Rate includes 0.35% p.a. for 3 months for new customers who apply online
BCU Bonus Saver
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
1.00%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
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Showing 12 of 12 results

Awards that Geelong Bank has earned

  • Money Magazine Best of the Best Winner – Best Savings Account Regular Deposits for a Non-Bank in 2015 for the Achieve Super Account
  • Money Magazine Best of the Best Winner – Best DIY Super Savings Account for a Non-Bank in 2010, 2011 and 2015 for the Superfund Maximiser Account

Who is Geelong Bank?

Through a number of available services like online banking and ATMs, Geelong Bank provides their members with a wide variety of savings accounts that are designed to meet any need. Invest your pocket change to help make Christmas buying easier, or make start maximising your superfund in a high interest investment account. All of the advantages to big banking are here, making this an alternative worth taking a closer look at.

What is internet banking like for Geelong Bank?

Using the advanced VIP Online Security Token, Geelong Bank is able to provide account holders with an extra level of security when using their online service. This allows you to bank with confidence from anywhere, accessing your accounts and conducting transactions. The service has also been expanded onto an app, making it possible for you to do your banking from your mobile phone device.

To access the internet banking service you will need to apply online. Once your application is accepted you will be issued an access code that will allow you to register and begin taking advantage of the many features offered.

Notable features include:

  • View and print you current account balances and transaction history
  • Transfer money between your accounts
  • Pay your bills using BPAY
  • Make payments to individuals or businesses
  • View your interest earned on savings accounts
  • View interest charged on loan products
  • Change your passwords

What about the mobile app?

Image Source: App Store
Login PagePaymentsLocate Us
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What transaction accounts are offered by Geelong Bank?

  • Total Access Account. With an available overdraft facility and convenient 24 hour access, you are able to make all of your transactions securely. This account includes a full range of payment options including BPAY and cheque book.
  • Redi-Access Account. Arrange for direct credit of your salary and you will be able to easily access your money using a linked RediCARD at ATMs and EFTPOS. Internet banking is also available, allowing you to use the BPAY facility to pay your bills.
  • At Call Passbook Account. For those who prefer branch banking this account provides you with a record of all of your deposit and withdrawal transactions. You are still able to take advantage of internet banking features such as BPAY by registering for the service.

What high interest savings accounts are offered by Geelong Bank?

  • Online Saver Account. A competitive interest rate is earned on every dollar in your account yet your money is always available to you when you need through internet and phone banking.
  • iSaver Account. An online savings account that pays you bonus interest on top of the base rate when you meet a monthly deposit requirement. Your funds are always available to you through internet and phone banking by making transfers to an elected account.
  • Seniors Savers Account. Geelong Bank members over the age of 18, senior card holders or pensioners can all benefit from this interest earning account that allows you to access your money through a number of facilities including internet banking.
  • Young Achiever Account. Designed for younger Australians, this savings account provides rewards and bonus interest rates for meeting certain goals. Kids pay no fees for banking which can be done at your local branch, online or over the phone.
  • Superfund Maximiser Account. This is a specially designed savings account meant for DIY and self-managed super funds. You are guaranteed a return on your investment, yet are still able to move your money around at will using phone and internet banking.
  • Early Bird Christmas Club Account. Get a head start on your holiday spending with a savings account that limits your access from January up until November. Interest is earned on the daily balance and will be paid into the account at the end of the term.

What term deposits are offered by Geelong Bank?

  • Regular Income Investment Accounts. Set up at fixed term for a fixed rate of interest, you can opt to have interest paid to a separate account each month. The minimum deposit is $5,000 and terms range from three months to one year.
  • Term Deposits. With an investment of $500 locked in at a fixed term, you will earn a higher fixed rate of interest. Terms are between three months and one year, and the interest will be paid to you when the account reaches maturity.
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What are the pros and cons of banking with Geelong Bank?

Pros

  • Accessibility. Geelong Bank offers account holders multiple access methods to suit your preference.
  • Term deposit. The low minimum balance requirement makes it easier for anyone to take advantage of the higher interest rate.
  • Security. With advanced security features a part of the internet banking system you don’t need to worry about your accounts being compromised.
  • Variety. Geelong Bank has a number of different account types to meet varying needs.

Cons

  • Membership. Geelong Bank is a member owned bank, making it necessary to apply for membership first before accessing any of their accounts.
  • Fees. You will be charged fees for access of certain accounts and features.

How do I apply for a Geelong Bank account?

You have the option of downloading an application and mailing it into a branch, or filling out the application online. Membership is an eligibility requirement, as is being a resident of Australia with a residential address, and in some cases you will also need to meet an age requirement. Have with you identifying information found on your passport or driver’s licence. If you do not wish to have withholding tax deducted from interest earnings, you should also have your tax file number (TFN) or exemption code as well. Once your application has been submitted you will be given a special reference code, and Geelong Bank will make every effort to let you know the status of your application within 48 hours.

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Written by

Shirley Liu

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 profile

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