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Compare Greater Bank savings accounts

Treat your finances with a mutual bank that values service and convenience above everything else.

Greater Bank

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Greater Bank has been helping Australians meet their financial goals for over 70 years. A member owned mutual bank, they provide the same services and products that big banks do, with a personal touch. Plus as an Australian financial institution they offer you the same protection with the Government Guarantee on your deposits.

Data indicated here is updated regularly
$
Name Product Card access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly Account Fee
Greater Bank Access Account
Visa
$0.70
$0
Everyday bank account with convenient access to money.
Greater Bank Ultimate Access Account
Visa
$0.70
$2,000
An everyday account where you an avoid fees and have unlimited access to your funds.
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Data indicated here is updated regularly
$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Interest Earned
Greater Bank Life Saver - For NSW residents
1.4%
1.4%
0%
$0
Ongoing, variable interest rate up to 1.4% p.a. when at least one deposit of any value is made during the month and you make no withdrawals. NSW residents only.
Greater Bank Bonus Saver
0.75%
0.75%
0%
$0
Ongoing, variable 0.75% p.a. when you deposit $1+ each month and no withdrawal for the month. Available on the entire balance.
Greater Bank Cash Management Account
0.01%
0.01%
0%
$0
The Greater Bank Cash Management Account offers a competitive interest rate. Interest calculated on whole balance daily and paid quarterly.
Greater Bank Retirement Plus
0.01%
0.01%
0%
$0
Great if you're over 55 years of age and want to earn a higher rate on your savings.
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Data indicated here is updated regularly
Name Product 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.
Greater Bank Term Deposit $5,000
0.65%
0.60%
0.60%
0.75%
0.60%
0.85%
1.00%
The Greater Bank Term Deposit offers a competitive interest rate with $0 setup and account keeping fees.
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Data indicated here is updated regularly
$
Name Product Card access ATM Withdrawal Fee Fee Free Deposit p.m. Monthly Account Fee
Greater Bank Access Account
Visa
$0.70
$0
Everyday bank account with convenient access to money.
Greater Bank Ultimate Access Account
Visa
$0.70
$2,000
An everyday account where you an avoid fees and have unlimited access to your funds.
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Data indicated here is updated regularly
$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Interest Earned
Greater Bank Life Saver - For NSW residents
1.4%
1.4%
0%
$0
Ongoing, variable interest rate up to 1.4% p.a. when at least one deposit of any value is made during the month and you make no withdrawals. NSW residents only.
Greater Bank Bonus Saver
0.75%
0.75%
0%
$0
Ongoing, variable 0.75% p.a. when you deposit $1+ each month and no withdrawal for the month. Available on the entire balance.
Greater Bank Cash Management Account
0.01%
0.01%
0%
$0
The Greater Bank Cash Management Account offers a competitive interest rate. Interest calculated on whole balance daily and paid quarterly.
Greater Bank Retirement Plus
0.01%
0.01%
0%
$0
Great if you're over 55 years of age and want to earn a higher rate on your savings.
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Data indicated here is updated regularly
Name Product 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.
Greater Bank Term Deposit $5,000
0.65%
0.60%
0.60%
0.75%
0.60%
0.85%
1.00%
The Greater Bank Term Deposit offers a competitive interest rate with $0 setup and account keeping fees.
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Data indicated here is updated regularly
$
$
months
Name Product Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Interest Earned
Westpac Life (18-29 year olds only)
3%
0.4%
2.6%
$0
Under 30? You can earn an ongoing, variable 3% p.a. each month you grow your balance (excluding interest earned) and make 5+ debit card purchases from your linked Westpac Choice transaction account. The maximum variable rate of 3% p.a. is available on balances up to $30,000 for customers aged 18-29.
Westpac Life (18-29 year olds only)
0.75%
0.4%
0.35%
$0
Under 30? You can earn an ongoing, variable 0.75% p.a. each month you grow your balance (excluding interest earned) and make 5+ debit card purchases from your linked Westpac Choice transaction account. The maximum variable rate of 0.75% p.a. is available on balances up to $30,000 for customers aged 18-29.
MyState Bank Bonus Saver Account
1.5%
0.15%
1.35%
$0
Ongoing, variable 1.5% p.a. when you deposit at least $20 into the account each month and make 5 or more Visa Debit card transactions from a linked MyState transaction account. Bonus interest available on balances up to $250,000.
Citibank Online Saver
1.35%
0.35%
1%
$0
Introductory rate of 1.35% p.a. for 4 months, reverting to a rate of 0.35% p.a. Available on balances Up to $500,000.
Citibank Online Saver
0.35%
0.35%
0%
$0
Introductory rate of 0.35% p.a. for months, reverting to a rate of 0.35% p.a. Available on balances Up to $500,000.
Bankwest Hero Saver
1.15%
0.01%
1.14%
$0
Ongoing, variable 1.15% p.a. rate when you deposit at least $200 each month and make no withdrawals. Available on balances up to $250,000.
Bankwest Hero Saver
0.01%
0.01%
0%
$0
Ongoing, variable 0.01% p.a. rate when you deposit at least $0 each month and make no withdrawals. Available on balances up to $250,000.
Westpac Life
0.75%
0.4%
0.35%
$0
Ongoing, variable 0.75% p.a. each month you deposit money, and make sure your balance is higher at the end of the month than it was at the beginning. No monthly account-keeping fee.
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Awards that Greater Bank has earned

  • Roy Morgan Customer Satisfaction Awards - Building Society / Credit Union of the Year 2015
  • Australian Lending Awards – Best Mutual 2015
  • Roy Morgan Research – Building Society of the Year 2014
  • Roy Morgan Research – Building Society of the Year 2013
  • Asia-Pacific Banking & Finance – Building Society of the Year 2012
  • Asia-Pacific Banking & Finance – Building Society of the Year 2011
  • Smart Investor Blue Ribbon Awards – Building Society of the Year 2010

Who is Greater Bank?

No matter what your savings goals are, Greater Bank will help you meet them. They have a variety of accounts geared towards helping you build a nest egg, with incentives like higher interest rates to keep you motivated. You pay no fees with any of their savings accounts, yet have the advantage of competitive interest rates just like the big banks.

What about the mobile app?

Image Source: App Store
Login PagePaymentsLocate ATM/Branch
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What transaction accounts are offered by Greater Bank?

  • Access Account. This simple to use everyday account allows for free internet and phone banking for 24-hour access. You can also choose between a Visa debit card or Access card for withdrawals and purchases with low fees for your transactions.
  • Ultimate Access Account. Deposit at least $2,000 a month are you will be free from any transaction fees with this account. You can also use features like BPAY, EasyPay and Third Party to easily make your monthly payments right from your account.
  • Retirement Plus Account. With this account you are given all of the flexibility of the Access Account plus interest payments on your balance. Transaction fees do apply, but you are given a fee allowance to help offset your costs.

What high interest savings accounts are offered by Greater Bank?

  • Bonus Saver. Earn a higher interest rate on your savings by making one deposit into this account each month and no withdrawals. There is even more incentive to save with no monthly or transaction fees charged for this account.
  • Life Saver. A Life Saver account can be opened for anyone from birth to the age of 25 with just one dollar, and can be linked to an Access Account to make withdrawals and deposits easier. Your balance earns a competitive interest rate daily, with payments made monthly to further grow your savings with compound interest.
  • Cash Management Account. This high interest savings account gives you some of the same access functions as a transaction account such as BPAY, Direct Debit, Easypay and Third Party Payment Service.

What term deposits are offered by Greater Bank?

You can open a term deposit with Greater Bank with as little as a $1,000 investment. Your money will be locked away for the length of the term you choose, which range from one month to five years, but you also earn a higher rate of interest. You can also choose to have monthly interest payments made directly to you, adding a little more to your income.

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

Pros

  • Low cost. With savings accounts from Greater Bank you are not charged any monthly fees.
  • ATMs. Not only are you permitted to use your debit card at Greater ATMs, they are also linked to the networks of Westpac, St.George, Bank of Melbourne, and BankSA.
  • Variety. With Greater Bank you will find savings accounts to suit a number of different needs.

Cons

  • Account application. While Greater Bank does allow online applications with some accounts, for their specialised savings products you will have to apply in person at a branch.
  • Membership. Before you can apply for any savings account with Greater Bank you need to apply to become a member.
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How do I apply for a Greater Bank account?

Depending on the specific savings account you are interested in, you will either be prompted to apply online or asked to visit a local branch. Age restrictions will vary for each product, but you do have to be a permanent resident for each. Be sure to have identifying documents ready before beginning an application as well as your tax file number (TFN) or exemption code.

Before getting started, make sure that you have carefully compared the account to what other banks offer to ensure that you have find the product that suits all of your savings needs.

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