BCU iSaver

BCU iSaver

Maximum Variable Rate


Standard Variable Rate


Limit access to your savings and be rewarded with a higher interest rate.

  • Only can be accessed via internet and phone banking
  • Competitive interest rate
  • No monthly account keeping fees

Product details

With the BCU iSaver you get a convenient method of earning extra money on your savings. With accessibility only offered online or over the phone, you can quickly transfer your funds into your linked everyday account, while earning a higher interest rate on what is kept in savings. This is a fee free savings account, allowing you to save even more over time.

Product Name
BCU iSaver
Maximum Variable Rate
1.56% p.a.
Standard Variable Rate
1.56% p.a.
Bonus Variable Rate
0.00% p.a.
Introductory / Bonus Offer Conditions
Ongoing, variable 1.56% p.a. when you link to a BCU transaction account. Available on balance $1,000+.
Monthly Fee
Minimum Opening Deposit
Internet Banking
Internet Transaction Fee
Phone Banking
Phone Transaction Fee
Minimum Age Requirement
Covered by Government Guarantee?
Yes (Up to $250,000 per person, per institution)

What are the features of the BCU iSaver?

Online savings accounts have become a convenient method of earning extra interest on your money without having to meet any restricting terms. The disadvantage is that access is only available through electronic transfers. If this type of account works with your banking needs, compare various accounts first to learn the differences between banks and find the account that will benefit you most.

Membership open to all Aussies

You are required to become a member of BCU before you can open the iSaver account. Membership is open to all Australians, and is for life so long as you continue to bank with the credit union. There are three shareholder types available depending on your personal circumstance, but in most cases you will be assigned as a full shareholder.

$0 Monthly account keeping fees

BCU will not charge a monthly account keeping fee for the iSaver savings account.

How is my interest calculated?

BCU offers competitive rates for the iSaver, which will increase as your balance does. Interest will be calculated on the daily balance and is paid into the account once a month.

Must be linked to a BCU transaction account

You must also hold a BCU transaction account in order to benefit from the iSaver.

Online and phone banking available

Making deposits and withdrawals will all be done electronically, either with direct credits or transfers using the linked account. Direct debits or BPAY from the iSaver are not permitted. These transactions can be made online or by telephone.

Mobile banking with iBank

The iBank feature is available as an app for both Apple and Android mobile products, and can be downloaded from their website. Once on your mobile phone you will be able to log into your online banking platform to check your savings balance and make transfers between your iSaver and linked transaction account. You will need to be a registered member of BCU’s iBank in order to be eligible for the iSaver account. This is their online banking platform which will give you complete and secure access to your account.

$0 Transaction fees

You are not charged for any transfers or other transactions with this account.

$0 Minimum balance

There is no requirement to maintain a minimum balance in the account.

Capital guaranteed

Your balance of up to $250,000 is guaranteed by the Australian government.


  • Tiered interest. Be rewarded with higher interest rates on larger deposit amounts.
  • No monthly account keeping fees
  • Internet and phone banking


  • Only can be accessed via internet and phone banking
  • No counter cheque and cash deposits and counter withdrawals

What you’ll need to know before applying

If the iSaver works with your financial goals you can visit BCU website to start an online application. Existing members are prompted to log into their iBank account to continue with the application while new members will need to first fill out a membership application.

Eligibility to apply online

Other eligibility requirements that you will have to first meet include:

  • Minimum age. In order to complete an online application you must be at least 18 years of age.
  • Residency requirements. BCU only accepts applications from Australian residents or citizens.
  • Depository requirements. You will not be required to make an initial deposit into the account. However, if you are an adult applying for full access membership first, you will be asked to pay $10 for your shares of the credit union.

Documentation to apply online

After determining that you are eligible to apply, have the following documentation available in order to make filling in the application easier:

  • Tax file number. You are not under any obligation to provide your tax file number (TFN) or exemption codes. Doing so will ensure that any deductions made from your interest earnings for tax purposes are done at the correct rate.
  • Identification. In order to verify your identity online, BCU will ask for information from your driver’s licence, Medicare card or passport. This information, along with your name, home address and date of birth, is sent to an external agency to verify your identity.
  • Communication. BCU will contact you primarily online so you should provide an active email address and telephone number when applying.

What happens after I submit my application?

You will be provided with your account information after the application has been approved. New members to BCU will be able to apply for membership and the iSaver account simultaneously, but you will also have to open a transaction account at this time.

Back to top Back to top Back to top

Ask an Expert

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.
Ask a question
Go to site