Border Bank Bonus Saver

Earn more interest on your deposit when you stick to your savings goals.

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.

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Shirley Liu

Last Updated Jan 4, 2021

0.55% p.a.

Maximum variable rate

0.05%p.a.

Base interest rate

$100

Minimum deposit

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Product Name	Border Bank Bonus Saver
Maximum Variable Rate	0.55% p.a.
Standard Variable Rate	0.05%
Monthly Account Fee	$0
Minimum Opening Deposit	$0

Pros

Reach your financial goals faster with a bonus saver account
Competitive interest rate

Cons

Deposit and withdrawal requirements need to be met

Shirley Liu

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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.

Key features

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.

How to apply

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.

Eligibility

- 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.

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Border Bank Bonus Saver