Border Bank Online Supersaver

Last updated: Dec 31, 2020

An online no strings attached savings account rewarding balances over $5,001 with 0.4% p.a.

Unlike other high interest savings accounts, there are no conditions you need to meet to earn the full rate of interest. The Border Bank Online Supersaver Account has a tiered rate of interest. Balances greater than $5,001 earn the top tier: 0.4% p.a.

This is a purely online savings account. Make transfers to a transaction account to withdraw your money.

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Product Name	Border Bank Online Supersaver
Maximum Variable Rate	0.4% p.a.
Standard Variable Rate	0.10%
Monthly Account Fee	$0
Minimum Opening Deposit	$0

Pros

At-call access to funds
No deposit or withdrawals requirements
No minimum balance requirements

Cons

Interest calculated daily and paid monthly
Balances less than $499 do not earn interest

Key features

No minimum deposit

The Border Bank Online Supersaver Account has no minimum deposit requirement to earn the full rate of interest. You'll continue to earn interest regardless of whether you make a deposit in Online Supersaver Account or not each month.

No minimum fixed term

Get term term deposit rates without the fixed commitment. There's no minimum period of time you have to keep your money in the Border Bank Online Supersaver Account.

No minimum balance

The Border Bank Online Supersaver Account has no minimum balance requirement to earn interest. Keep in mind that balances less than $499 do not accrue interest.

Fees

Account fees may apply when you want to access the money in your Border Bank Online Supersaver Account. A $5.00 over the counter withdrawal fee is charged when you want access to your money via a Border Bank service centre. Make BPAY payments to other accounts for free.

Account access

The Online Supersaver Account doesn't include a debit card or cheque book. You can access your money using the Border Bank telephone and Internet banking facility. To withdraw funds, you can make a BPAY payment another account.

Periodical payment

Set up a periodical payment from the Online Supersaver Account to pay your recurring debts. You still earn the full applicable rate of interest if you make withdrawals from this account.

Direct credit

Get your salary paid to the Online Supersaver so you can grow your savings balance and earn more interest.

Eligibility

This account is available for personal applicants. The Border Bank Online Supersaver isn't open to applications in a business name. You can also apply for this account jointly in two names.

How to apply

You can start an online application for the Border Bank Online Supersaver by visiting their website. The application can be complete in under 10 minutes and it's completely secure.

Eligibility

This account is open to personal applicants. You can't apply for the Online Supersaver in the name of a business. You can also apply for this account in two people's names.

Existing Border Bank members can use their Border Bank membership number to skip to the stage of the application where you select the product you want to apply for. If you're new to Border Bank, the application requires you to input your contact details:

Documentation needed

Enter your name, your residential address, your preferred contact number and the best time for a Border Bank representative to contact you about your application.

Once you submit your application for the Border Bank Online Supersaver Account, a representative will be in touch to discuss your Border Bank membership.

Border Bank are a division of Police Bank and a mutual banking institution. Mutual banks are responsible to members. Each member has a say in how the institution is run. Border Bank ask that you provide a guarantee to pay $10 in case the institution stops operations — a small price to pay for a stake in your financial institution.

Shirley Liu

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.

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Border Bank Online Supersaver