Compare MyState savings and bank accounts

Headquartered in Tasmania, MyState has been an active alternative to big banks for over 50 years. It provides a large range of personal banking products and services, covering everything from insurance to high interest savings accounts. This guide will outline the various transaction and savings accounts plus the term deposits the bank offers.

Congratulations, MyState Bank!

MyState Bank Bonus Saver Account received the highly commended award for 'Savings Account' in the 2024 Banking Product Awards.

Full list of 2024 winners

Compare MyState Savings Accounts, Transaction Accounts and Term Deposits

You can find a list of accounts available from MyState below.

• Savings Accounts Interest Rates
• Transaction Accounts
• Term Deposits Interest Rates
• How do Mystate Bank savings accounts compare?

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Finder Score (low-high)Finder Score (high-low)Maximum Variable Rate p.a. (low-high)Maximum Variable Rate p.a. (high-low)Base interest rate (low-high)Base interest rate (high-low)Intro/Ongoing (low-high)Intro/Ongoing (high-low)

Product	Finder Score	Maximum Variable Rate p.a.	Base interest rate	Intro/Ongoing	Government Guarantee	Monthly Max Rate Conditions
MyState Bank Bonus Saver Account	Finder score 8.5 Great	Maximum Variable Rate p.a. 4.75%	Standard Variable Rate p.a. 0.05%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions Deposit $20 5 debit card purchases Balances up to $250,000	ContinueView details Compare	loading Fetching your data...
MyState Bank Business Online Saver	Finder score 1.8 Basic	Maximum Variable Rate p.a. 0.60%	Standard Variable Rate p.a. 0.60%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions Balances $10,000 and above	ContinueView details Compare	loading Fetching your data...
MyState Bank Access Assist Account	Finder score 2.1 Basic	Maximum Variable Rate p.a. 0.75%	Standard Variable Rate p.a. 0.75%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions The portion of the balances $46,600 and above	ContinueView details Compare	loading Fetching your data...
MyState Bank Christmas Account	Finder score 1.1 Basic	Maximum Variable Rate p.a. 0.10%	Standard Variable Rate p.a. 0.10%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions N/A	ContinueView details Compare	loading Fetching your data...
MyState Bank Special eSaver Account	Finder score 2.6 Basic	Maximum Variable Rate p.a. 1.00%	Standard Variable Rate p.a. 1.00%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions Balances $150,000 and above	ContinueView details Compare	loading Fetching your data...

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How the Finder Score helps you find a better savings account

The Finder Score is a simple score out of 10. The higher a savings account's score, the better we think it is for the average customer.

We score each savings account in our database of hundreds based on a data-driven methodology with 2 main criteria: Does the account offer a high interest rate? And is it easy for savers to actually earn that rate?

Read the full Finder Score breakdown

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Monthly fee (low-high)Monthly fee (high-low)Own network ATM fee (low-high)Own network ATM fee (high-low)Card type (low-high)Card type (high-low)

Name	Monthly fee	Govt. Guarantee	Own network ATM fee	Card type
MyState Bank Glide Account Apple Pay Google Pay Samsung Pay Garmin Pay	Monthly fee $0	Government Guarantee	Own network ATM fee $0	Card type Visa	ContinueMore Info Compare
MyState Bank Basic Account Apple Pay Google Pay Samsung Pay Garmin Pay	Monthly fee $0	Government Guarantee	Own network ATM fee $0	Card type Visa	Continue Compare
MyState Bank Offset Transaction Account Apple Pay Google Pay Samsung Pay Garmin Pay	Monthly fee $8	Government Guarantee	Own network ATM fee $0	Card type Visa	Continue Compare
MyState Bank Access Assist Account Apple Pay Google Pay Samsung Pay Garmin Pay	Monthly fee $0	Government Guarantee	Own network ATM fee $0	Card type Visa	Continue Compare
MyState Bank Everyday Business Account Apple Pay Google Pay Samsung Pay Garmin Pay	Monthly fee $6	Government Guarantee	Own network ATM fee $0.15	Card type Visa	Continue Compare

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3 Mths p.a. (low-high)3 Mths p.a. (high-low)4 Mths p.a. (low-high)4 Mths p.a. (high-low)5 Mths p.a. (low-high)5 Mths p.a. (high-low)6 Mths p.a. (low-high)6 Mths p.a. (high-low)7 Mths p.a. (low-high)7 Mths p.a. (high-low)11 Mths p.a. (low-high)11 Mths p.a. (high-low)12 Mths p.a. (low-high)12 Mths p.a. (high-low)24 Mths p.a. (low-high)24 Mths p.a. (high-low)

Name	3 Mths p.a.	4 Mths p.a.	5 Mths p.a.	6 Mths p.a.	7 Mths p.a.	11 Mths p.a.	12 Mths p.a.	24 Mths p.a.
MyState Bank Online Term Deposit $5,000 min. deposit$50,000,000 max. deposit	3 Mths p.a. 4.00%	4 Mths p.a. 4.20%	5 Mths p.a. 4.60%	6 Mths p.a. 4.75%	7 Mths p.a. 4.60%	11 Mths p.a. 4.40%	12 Mths p.a. 4.55%	24 Mths p.a. 3.95%	ContinueMore Info Compare	Lock in competitive rates and pay no monthly account fees with this online term deposit.
MyState Bank Term Deposit $5,000 min. deposit$5,000,000 max. deposit	3 Mths p.a. 4.00%	4 Mths p.a. 4.20%	5 Mths p.a. 4.60%	6 Mths p.a. 4.75%	7 Mths p.a. 4.60%	11 Mths p.a. 4.40%	12 Mths p.a. 4.55%	24 Mths p.a. 3.95%	Continue Compare
MyState Bank Income Term Deposit	3 Mths p.a. -	4 Mths p.a. -	5 Mths p.a. -	6 Mths p.a. -	7 Mths p.a. -	11 Mths p.a. -	12 Mths p.a. 4.55%	24 Mths p.a. 3.95%	Continue Compare
MyState Bank Business Term Deposit $5,000 min. deposit$500,000 max. deposit	3 Mths p.a. 4.00%	4 Mths p.a. 4.20%	5 Mths p.a. 4.60%	6 Mths p.a. 4.75%	7 Mths p.a. 4.60%	11 Mths p.a. 4.40%	12 Mths p.a. 4.55%	24 Mths p.a. 3.95%	Continue Compare
MyState Bank Business Income Term Deposit $5,000 min. deposit$500,000 max. deposit	3 Mths p.a. -	4 Mths p.a. -	5 Mths p.a. -	6 Mths p.a. -	7 Mths p.a. -	11 Mths p.a. -	12 Mths p.a. 4.55%	24 Mths p.a. 3.95%	Continue Compare

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Product	Finder Score	Maximum Variable Rate p.a.	Base interest rate	Intro/Ongoing	Government Guarantee	Monthly Max Rate Conditions
Rabobank High Interest Savings Account	Finder score 8 Great	Maximum Variable Rate p.a. 5.45%	Standard Variable Rate p.a. 4.00%	Intro/Ongoing 4 months	Government Guarantee	Monthly Max Rate Conditions Balances up to $250,000	Earn a high interest rate of 5.45% for the first 4 months and then 4% thereafter, with $0 account keeping fees and no monthly balance requirements.	Go to siteView details Compare	loading Fetching your data...
ING Savings Maximiser	Finder score 9.7 Excellent	Maximum Variable Rate p.a. 5.40%	Standard Variable Rate p.a. 0.05%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions Deposit $1,000 5 transactions Grow your balance Balances up to $100,000	Go to siteView details Compare	loading Fetching your data...
Suncorp Bank Growth Saver Account	Finder score 8.7 Great	Maximum Variable Rate p.a. 4.80%	Standard Variable Rate p.a. 0.35%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions Grow balance by $200 each month (excl. interest) Only 1 withdrawal No balance limit on earning interest	Get a solid interest rate on your entire balance, with minimal conditions in order to get the max rate. This account doesn’t offer card access but you can make 1 withdrawal per month & grow your net balance by $200 (excl. interest) to earn the max rate.	Go to siteView details Compare	loading Fetching your data...
ING Savings Accelerator ($150,000 - $500,000)	Finder score 8.5 Great	Maximum Variable Rate p.a. 5.15%	Standard Variable Rate p.a. 4.45%	Intro/Ongoing 4 months	Government Guarantee	Monthly Max Rate Conditions Welcome rate applies up to $500K	Ideal for higher balances, savers can earn up to 5.15% for the first 4 months and up to 4.45% thereafter. There are no conditions and $0 account-keeping fees.	Go to siteView details Compare	loading Fetching your data...
St.George Incentive Saver	Finder score 9.1 Excellent	Maximum Variable Rate p.a. 5.00%	Standard Variable Rate p.a. 1.60%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions Grow balance $50 ($0.01 if under 21) Balance up to $249,999.99	Extra 0.10% p.a. for 3 months for new customers who apply online, balances under $250k.	Go to siteView details Compare	loading Fetching your data...
Macquarie Savings Account	Finder score 8.8 Great	Maximum Variable Rate p.a. 5.10%	Standard Variable Rate p.a. 4.75%	Intro/Ongoing 4 months	Government Guarantee	Monthly Max Rate Conditions Balances up to $250,000	Go to siteView details Compare	loading Fetching your data...
Bank of Queensland Simple Saver Account	Finder score 8.5 Great	Maximum Variable Rate p.a. 4.55%	Standard Variable Rate p.a. 4.55%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions Balances up to $5,000,000	Open up to 9 accounts to take control of your savings and don't worry about meeting fiddly conditions or paying frustrating fees.	Go to siteView details Compare	loading Fetching your data...
Newcastle Permanent Smart Saver Account	Finder score 7.7 Great	Maximum Variable Rate p.a. 4.25%	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 siteView details Compare	loading Fetching your data...
Westpac Life (18-29 year olds only)	Finder score 8.9 Great	Maximum Variable Rate p.a. 5.00%	Standard Variable Rate p.a. 1.60%	Intro/Ongoing 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 Compare	loading Fetching your data...
Bank of Queensland Future Saver Account - 14 to 35 years	Finder score 9.4 Excellent	Maximum Variable Rate p.a. 5.25%	Standard Variable Rate p.a. 0.05%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions Deposit $1,000 5 eligible transactions Balances up to $50,000	Go to siteView details Compare	loading Fetching your data...
BCU Bonus Saver	Finder score 2.2 Basic	Maximum Variable Rate p.a. 4.75%	Standard Variable Rate p.a. 0.25%	Intro/Ongoing 4 months	Government Guarantee	Monthly Max Rate Conditions N/A	Go to siteView details Compare	loading Fetching your data...
IMB Reward Saver Kick Start	Finder score 9.3 Excellent	Maximum Variable Rate p.a. 5.00%	Standard Variable Rate p.a. 0.00%	Intro/Ongoing Ongoing	Government Guarantee	Monthly Max Rate Conditions Deposit $20+ each month No withdrawals	You can open this account if you are aged 13 to 17, or if you're a student, trainee or apprentice aged 18 to 30.	Go to siteView details Compare	loading Fetching your data...

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We currently don't have that product, but here are others to consider:

How we picked these

How the Finder Score helps you find a better savings account

The Finder Score is a simple score out of 10. The higher a savings account's score, the better we think it is for the average customer.

We score each savings account in our database of hundreds based on a data-driven methodology with 2 main criteria: Does the account offer a high interest rate? And is it easy for savers to actually earn that rate?

Read the full Finder Score breakdown

Who is MyState?

MyState is a financial institution with its head offices located in Hobart, Tasmania. It offers a complete range of personal banking solutions, from transaction accounts and savings accounts to personal loans and home loans. Whether you are saving for a specific financial goal in the future, or just need to keep your bill money separate from your spending, MyState may have the solution. Customer dposits up to $250,000 per customer are guaranteed by the Australian Government.

What is internet banking like for MyState?

With a limited branch network to serve customers and all branches located in Tasmania, MyState relies heavily on its online banking service to meet the financial needs of customers outside of the region. Through it’s internet banking portal you are able to easily manage your accounts, access balances, and set up electronic deposits and debits.

MyState also offers a mobile app, so you can manage your money on-the-go, wherever you may be. The app can be downloaded on both Android and iPhone devices.

What about the mobile app?

What transaction accounts are offered by MyState?

• Access Assist Account. Pensioners can take advantage of no monthly fees and competitive interest rates on their balance with this at call account. Unlimited transactions are provided in a number of ways including internet banking and your choice of debit card.
• Offset Account. For a monthly fee, you can reduce your home loan payments by having the balance of your home loan reduced by your account balance before interest is calculated. This also serves as an everyday banking account, with a number of ways to conduct your daily banking.

What savings accounts are offered by MyState?

• Special eSaver Account.This account offers a high interest rate and no account keeping fees. Plus, you'll still earn interest even when you need to make a withdrawal.
• Christmas Account. Designate a set portion of your pay aside each month, so you have the money you need to take care of holiday expenses in November. Your deposits earn interest as well, giving you the opportunity to put even more treats under the tree.

What term deposits are offered by MyState?

• Online Term Deposit. Lock your money into a term ranging from one month to two years and earn interest at a higher rate. The minimum deposit requirement is $5,000 and you will not be charged any monthly or transaction fees.
• Income Term Deposit. With the same minimum deposit requirement and terms of one or two years, you can elect to receive your interest payments monthly or quarterly to a nominated account. This will decrease the interest rate slightly, but you are still not charged any fees and will benefit from interest payments.Back to top

What are the pros and cons of banking with MyState?

How do I apply for a MyState account?

You can easily apply for an account with MyState online. The process is simple and takes less than 10 minutes. You'll need to provide you personal contact details, including your residential address and also your tax file number. Plus, you'll need to verify your identity with either your drivers license, passport or birth certificate. After the account has been opened you will be sent the details along with any linked debit card you may have chosen.

Compare other products from MyState

• MyState personal loans

Written by

Shirley Liu

Publisher

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 bio