Product details
The Border Bank Bonus Saver is a rewarding fee free savings account that gives you more when you save more. In addition to the competitive tiered base rate of interest, get bonus interest on your deposit when you make no withdrawals and deposit 100 or more to this account each month.
- Product Name
- Border Bank Bonus Saver
- Maximum Variable Rate
- 2.25% p.a.
- Standard Variable Rate
- 0.10% p.a.
- Introductory / Bonus Offer Conditions
- The Border Bank Bonus Saver Account pays a bonus interest rates of 2.25% in addition to the current base interest rates by simply depositing a minimum of $100 a month with no withdrawals.
- Monthly Fee
- $0
- Minimum Opening Deposit
- $0
- Minimum monthly deposit for bonus interest rate
- $100
- Internet Banking
- Yes
- Phone Banking
- Yes
What are the features of the Border Bank Bonus Saver?
- Bonus interest conditions. To get the bonus interest, simply deposit at least 100 every month to the Border Bank Bonus Saver and make no withdrawals.
- No fees. The Border Bank Bonus Saver is free to open and you’ll pay no monthly account keeping fees.
- Making deposits. Deposit funds to the Bonus Saver from another institution's online banking facility using the pay anyone feature. You can also make deposits at a Border Bank or Police Bank service centre. Set up a direct credit from your salary to the Bonus Saver so you always meet the bonus interest deposit requirement.
- Withdrawals. You can withdraw funds from the Bonus Saver via Border Bank Internet, telephone or mobile banking. Transfers from the Bonus Saver to a Border Bank transaction account are instant, transfers to a transaction account with another financial institution can take up to 3 business days. Remember if you make one withdrawal or more from the Border Bank Bonus Saver you will forfeit the bonus interest rate.
- Internet banking. Internet banking a convenient quick way to stay on top of your savings. Check how much money you’ve got in the Bonus Saver, the applicable rate of interest, recent transactions and make withdrawals to a linked transaction account using the Border Bank online banking facility. There’s no charge for this account feature and it can be set up in a few simple steps once you open the Bonus Saver account.
- Electronic statements. Electronic statements are an environmentally friendly way to review your account activity. View your transaction history, account balances and interest earned for previous periods any time, anywhere. Electronic statements are sent out at the same frequency as paper statements, you can choose to get fewer or more electronic statements by getting in touch with a Border Bank representative. You don’t need to register for Internet banking to get electronic statements, they can be sent to your email inbox.
- Joint account. The Border Bank Bonus Saver is available to joint applications.
Pros
- Reach your financial goals faster with a bonus saver account
- Competitive interest rate
Cons
- Deposit and withdrawal requirements need to be met
How do I apply for the Border Bank Bonus Saver?
Visit Border Bank website to start a secure online application for the Border Bank Bonus Saver. The application for a Border Bank Bonus Saver can be completed in under 10 minutes.
- Existing Border Bank members. If you’re already a member of Border Bank, you can enter your membership number and your name, you’ll be directed to the product selection page where you can add the Bonus Saver to your Border Bank membership.
New members
If the Bonus Saver is your first Border Bank product, you’ll need to become a member of the mutual bank to open the account. Mutuals are customer owned and operated banking institutions. Every member of a Border Bank makes a pledge to contribute $10 if the organisation ever ceases operation. It’s easy to open a Border Bank Bonus Saver account. Enter your contact information and agree to some standard privacy conditions to apply for this account.
Enter your contact details such as your name, your date of birth, your residential address, your preferred contact number and the best time to be contacted about your application. A member of the Border Bank customer service team will be in touch to discuss your application for the Bonus Saver and your membership with Border Bank.
