Great Southern Bank Future Saver
- Maximum variable rate
- 5.10% p.a.
- Base interest rate
- 0.10% p.a.
Our verdict
Earn bonus interest each month you grow your Great Southern Bank Future Saver balance by the required amount.
The Great Southern Bank Future Saver gives you a maximum interest rate as high as 5.1% on balances up to $500,000. To get this rate you just need to deposit $250 at the end of each month.
Pros
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No monthly account fees.
-
Tools like The Vault and The Boost helping to save effectively.
Cons
-
Only one account per customer limiting flexibility to open multiple Future Saver accounts.
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Applicants must be over 18 making it unsuitable for younger savers.
Details
Key details
| Product Name | Great Southern Bank Future Saver Account |
| Maximum Variable Rate | 5.10% p.a. |
| Standard Variable Rate | 0.10% p.a. |
| Monthly Account Fee | $0 |
| Minimum Age | 18 |
Key features
Interest rate
The Great Southern Bank Future Saver has a maximum total interest rate of 5.1% on balances up to a set limit.
This consists of a base rate of 0.1% and a bonus rate of 5%. To get this rate, your balance needs to grow by Great Southern Bank's required amount by the end of each calendar month, not counting interest it pays you. Check Great Southern Bank's website for the current amount.
If your balance goes above that limit, you will earn a lower rate on the portion above it. Check Great Southern Bank's website for the current balance tiers.
Interest is calculated daily and paid monthly.
No account fees
The Great Southern Bank Future Saver has no monthly account fees.
Access
You can access your savings via online and mobile banking.
Savings tools
Great Southern Bank has some clever tools to help you hit your savings goals. The Vault helps you lock some money away and motivates you to not touch it (but still gives you access in an emergency).
The Boost lets you set a small amount of money to go to your savings account every time you spend with your Great Southern Bank Visa debit card.
How to apply
Eligibility
The Great Southern Bank Future Saver is for customers who are:
- 18 or older
- Australian residents
You can apply online in just a few minutes. You'll need ID, email address, an Australian mobile number and a tax file number.
Your reviews
Richard Finder
Senior Money Editor
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