This easy-to-use account lets you earn the market interest rate on your savings.
The BankVIC Easyinvest S7 account offers competitive interest rates and charges $0 maintenance fees. It offers unlimited deposits and withdrawals. When opening this savings account, you will have access to your money via mobile banking and unlimited free PayAlone (the BankVic mobile email feature). There is $0 minimum deposit or balance required, so it is easy to get started and the interest received is calculated daily and paid monthly. The Easyinvest S7 account is a savings account that offers similar benefits of a bank account.
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
Interest will be paid on the last day of each month. The Easyinvest S7 account is subject to a variable interest rate and competitive market related interest rates.You will earn 0.3% per annum on balances up to $5,000,000 and 0.01% per annum on balances exceeding that.
How do I earn the bonus interest?
Any applicant with a balance below $5,000,000 will qualify for the maximum rate of interest on this account. There are no conditions which need to be satisfied in order to earn this interest. The interest rate is variable, which means it could change according to the movements of the RBA cash rate.
Deposit in a branch or online
Your initial deposit can be made at a BankVic branch, via internet banking or Rapid Response. If the initial deposit is made via cheque the cheque should be cleared before deposit is approved.
Accessing your account
The Easyinvest S7 account access includes online banking and Rapid Response telephone banking.
Linked Visa debit card
A Visa debit card will be provided when your application has been approved.
Limits to your cash withdrawals
Deposits generally can't be withdrawn prior to maturity. However, an application can be done according to unique needs to make a premature withdrawal. Fees will apply and are subject to change.
Membership. Applicants are required to be members of the BankVic banking service.
Minimum age. Account holders under the age of 18 are considered a minor, it may also be required to have a parent and/or guardian to sign the application on their behalf. In the case of a minor becoming a member of BankVic they are to Join the Little Copper Club before attaining the privileges joined with having a BankVic account. As soon as the member turns 18 years old they will then be eligible to apply for their own account.
Residency requirements. Residential proof and details will be required.
Depository requirements. You may deposit any amount into your account and withdraw amounts which are available.
Documentation needed
Tax File Number. Your Tax File number will be asked for but not required, however, withholding your tax File Number will grant a deduction within your account.
Identification. When applying for the Easyinvest S7 account, identification will be needed that could include your personal identification number. Account holders are identified by signature, personal identification number, and/or telephone banking password.
Alison Banney is the banking and investments editor at Finder. She has written about finance for over seven years, with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business. She has previously worked at Westpac, and has written for several other major banks including BCU, Greater Bank and Gateway Credit Union. Alison has a Bachelor of Communications from Newcastle University, with a double major in Journalism and Public Relations. She has ASIC RG146 compliance certificates for Financial Advice, Securities and Managed Investments and Superannuation. Outside of Finder, you’ll likely find her somewhere near the ocean.
How likely would you be to recommend finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Important information about this website
finder.com.au is one of Australia's leading comparison websites. We compare from a wide set of banks, insurers and product issuers. We value our editorial independence and follow editorial guidelines.
finder.com.au has access to track details from the product issuers listed on our sites. Although we provide information on the products offered by a wide range of issuers, we don't cover every available product or service.
Please note that the information published on our site should not be construed as personal advice and does not consider your personal needs and circumstances. While our site will provide you with factual information and general advice to help you make better decisions, it isn't a substitute for professional advice. You should consider whether the products or services featured on our site are appropriate for your needs. If you're unsure about anything, seek professional advice before you apply for any product or commit to any plan.
Products marked as 'Promoted' or 'Advertisement' are prominently displayed either as a result of a commercial advertising arrangement or to highlight a particular product, provider or feature. Finder may receive remuneration from the Provider if you click on the related link, purchase or enquire about the product. Finder's decision to show a 'promoted' product is neither a recommendation that the product is appropriate for you nor an indication that the product is the best in its category. We encourage you to use the tools and information we provide to compare your options.
Where our site links to particular products or displays 'Go to site' buttons, we may receive a commission, referral fee or payment when you click on those buttons or apply for a product. You can learn more about how we make money here.
When products are grouped in a table or list, the order in which they are initially sorted may be influenced by a range of factors including price, fees and discounts; commercial partnerships; product features; and brand popularity. We provide tools so you can sort and filter these lists to highlight features that matter to you.
We try to take an open and transparent approach and provide a broad-based comparison service. However, you should be aware that while we are an independently owned service, our comparison service does not include all providers or all products available in the market.
Some product issuers may provide products or offer services through multiple brands, associated companies or different labelling arrangements. This can make it difficult for consumers to compare alternatives or identify the companies behind the products. However, we aim to provide information to enable consumers to understand these issues.
Providing or obtaining an estimated insurance quote through us does not guarantee you can get the insurance. Acceptance by insurance companies is based on things like occupation, health and lifestyle. By providing you with the ability to apply for a credit card or loan, we are not guaranteeing that your application will be approved. Your application for credit products is subject to the Provider's terms and conditions as well as their application and lending criteria.
Please read our website terms of use and privacy policy for more information about our services and our approach to privacy.