In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Your reviews
  • Ask a question
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Heritage Bank Online Saver

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Heritage Bank Online Saver

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Maximum variable rate
4.90% p.a.
Base interest rate

Our verdict

This account pays a bonus interest rate to new customers for the first four months after opening the account.

With this account you can earn a bonus rate of 4.9% p.a. for the first 4 months after opening the account. There's no monthly deposit condition to meet and you can make withdrawals while still earning interest, making this account super flexible.


  • No transaction or account keeping fees
  • Competitive interest rate
  • Access to funds through online and phone banking


  • Reverts to variable base rate after 4 months

In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Your reviews
  • Ask a question

The Online Saver is a fee free account with easy access to your money via Internet and your mobile banking. It's a flexible account; you can make withdrawals from your savings when needed, while still earning interest.


Key details

Product Name Heritage Bank Online Saver
Maximum Variable Rate 4.90% p.a.
Standard Variable Rate 3.45% p.a.
Monthly Account Fee $0
Minimum Opening Deposit $1
Minimum Age 18

Key features

Earn 4.9% p.a. for 4 months

This account offers bonus interest up to 4.9% p.a. for 4 months on balances up to $100,000. This introductory bonus rate is offered to new customers only. You must open the account within 60 days of becoming a member.

Ongoing rate of 3.45%

After the introductory period you'll get an ongoing, variable rate of 3.45% on balances up to $249,000.

Easy account access

You are able to access this account through phone and online banking only. Electronic transfers can be made, as well as Pay Anyone and BPAY transactions.

Linked account

The bonus intro rate only applies to new members who open an Online Saver account with a linked eligible Heritage Bank transaction account within 60 days of membership opening.

How to apply

A customer owned financial institution in Australian, you must first become a member before you are able to apply for the Online Saver or any other Heritage Bank product. There are no restrictions on who may become a member so long as you are able to pay the $1 shareholder fee. You can apply for your membership and savings account online and at the same time. Before you apply online, ensure that you are able to meet their eligibility requirements:


  • Minimum age. Heritage Bank makes no stipulations for how old an applicant must be.
  • Residency requirements. Only Australian residents with a residential address are able to open an Online Saver.

Your reviews

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April 17, 2023

i dont have $100,000 but what if wanted to put $40,000k


Sarah Megginson Finder

April 18, 2023

Hi Dimi,

You can earn the advertised interest rates on any amount from $1 – $249,000. You can deposit $40,000 and you’ll earn the advertised interest rate, plus an additional bonus rate for the first 4 months.

Hope this helps!



June 01, 2017

Who are the other approved financial institutions to whom you can transfer funds?

Avatar Finder

June 01, 2017

Hi Vera,

Thanks for reaching out to us.

Basically, most of the everyday transaction accounts can actually be used to send and receive money from a third-party account.

With the Heritage Bank Online Saver, it may not be possible to directly send money to a third-party bank account, so you might have to transfer funds from your online saver to your Heritage Bank account first and then the third party one.

Hope this helps.



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