CUA eSaver Boost Account

CUA eSaver Boost Account

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Maximum Variable Rate

2.75

Standard Variable Rate

0.25
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Enjoy no ongoing fees and be rewarded for your good savings habits with an eSaver Boost Account from CUA.

  • Ongoing, variable 2.75% p.a. when you make a total deposit of at least $250 and no withdrawals in a calendar month
  • Available on balances up to $500,000
  • $0 Account keeping fees

Product details

In today’s low-interest environment, maximising your interest-earning power is crucial to ensure that you get the most out of your savings account. The CUA eSaver Boost Account allows you to do just that by rewarding disciplined savers with an attractive bonus interest rate whenever they deposit at least $250 a month and do not make any withdrawals.

Combined with easy access to your funds and no ongoing fees, the eSaver Boost Account is well worth considering if you are looking to earn a high interest rate on your savings balance.

Product Name
CUA eSaver Boost Account
Maximum Variable Rate
2.75% p.a.
Standard Variable Rate
0.25% p.a.
Bonus Variable Rate
2.50% p.a.
Introductory / Bonus Offer Conditions
To earn bonus interest, make deposits of at least $250 and no withdrawals in a calendar month.
Monthly Fee
$0
Minimum Opening Deposit
$1
Minimum monthly deposit for bonus interest rate
$250
Internet Banking
Yes
Internet Transaction Fee
$0
Phone Banking
Yes
Joint application?
Yes
Minimum Age Requirement
18
Covered by Government Guarantee?
Yes (Up to $250,000 per person, per institution)

What are the features of the CUA eSaver Boost Account?

Up to 2.75% p.a. when you deposit at least $250 and make no withdrawals for that month

The CUA eSaver Boost Account pays a competitive standard variable interest rate on your account balance.

Bonus interest rate of 2.50%

When you deposit at least $250 into your account each month and do not make any withdrawals, you can earn a generous bonus interest rate on top of the standard rate. This rewards you for your good savings habits and boosts your earning power. The standard variable rate still applies in the months you don’t meet the deposit and withdrawal requirements.

Interest calculated daily

Interest on your CUA eSaver Boost Account balance is calculated daily and paid monthly. The average daily balance is used to calculate the interest paid.

No ongoing fees

There are no ongoing monthly or annual service fees attached to this account. In addition, you won’t have to pay any online transfer fees when you transfer funds to and from your linked transaction account.

Easy access

You can enjoy easy access to the funds in your eSaver Boost Account 24/7 via Internet, phone and mobile banking. You can instantly withdraw money from your account and make deposits whenever the need arises.

No minimum opening deposit

There is no minimum opening deposit required for this account. You don’t have to make ongoing deposits, but doing so will allow you to take advantage of the bonus interest offer.

Linked account

If you do not already hold an everyday transaction account with CUA, you will need to open one at the same time as you apply for an eSaver Boost Account. This account makes it easy for you to manage your day-to-day finances and comes with a Visa debit card. Compare other CUA products.

Discounted CUA Health insurance

CUA members cna take advantage of a 4% discount on CUA Health insurance. Find out more about CUA Health insurance and how it can benefit you here.

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Pros

  • Lets you earn up to 2.75% p.a.
  • $1 opening balance requirement
  • $0 account keeping fees
  • Unlimited free online and phone transactions

Cons

  • Lack of CUA branches
  • Fees may apply for transactions made in person at CUA branches

What you’ll need to know before applying

If you think the CUA eSaver Boost could be the perfect online savings account to help you grow a bigger bank balance, click on one of the “Apply Now” links on this page. Doing so will take you to the CUA website where you can read the full details of the account and begin the simple online application.

Eligibility to apply online

However, before you start this application, it’s important to make sure you satisfy the following eligibility criteria to open an account:

  • Minimum age. There are no minimum or maximum age restrictions on this account.
  • Residency requirements. You’ll need to be an Australian citizen or permanent resident to open an eSaver Boost Account.
  • Depository requirements. If you want to earn bonus interest on your account balance, you must deposit at least $250 per month and not make any withdrawals.

Documentation you'll need when applying online

You’ll need to provide the following details in order to complete your application:

  • Your personal details. These include your name, date of birth, residential address, email address and phone number.
  • Tax File Number. Although it is not compulsory to supply your Tax File Number, doing so ensures that CUA will not deduct any withholding tax from the interest you earn.
  • Identification. You’ll need to undergo an online ID check to verify your account, so photo ID such as a passport or driver’s licence is required.

What happens after I submit my application?

By completing an application, you also agree to become a member of CUA. If you do not already have an everyday transaction account with CUA, you will automatically open an accompanying CUA Everyday Account, which comes with a Visa debit card, at the same time.

The CUA eSaver Boost Account offers a range of competitive features for disciplined savers. Compare it with other reward saver accounts at finder.com.au to find the right savings product for your needs.

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4 Responses

  1. Default Gravatar
    NathalieMarch 12, 2018

    Hi Team

    My husband and I are looking to open a joint online account. Could you please advise:

    1) As I have already a CUA account, does my husband have to also have an account?

    2) Also in regards to online transactions, what is the security set up if either of us want to transfer money from the account? Assuming that the pending transaction will have to be approved by the other person.

    3) Are we able to link any account in an individual’s name to this online joint account? Or must we link another joint account to transfer the funds?

    4) Are bank cards also issued out in case we need to withdraw the cash in an emergency?

    Sorry for all the questions including the additional question at number 3.

    Thank you in advance
    Nathalie

    • finder Customer Care
      MayMarch 21, 2018Staff

      Hi Nathalie,

      Thanks for getting in touch. No worries about your questions :)

      1) As I have already a CUA account, does my husband have to also have an account?
      Once you and your husband will open a joint eSaver Boost Account, your husband will also automatically create a CUA account. So even if he’s not a member of CUA yet, once he open an account (including joint accounts), he will automatically create a membership account as well.

      2) Also in regards to online transactions, what is the security set up if either of us want to transfer money from the account? Assuming that the pending transaction will have to be approved by the other person.
      This depends on your signatory. If you decide to have only one signatory that can approve/sign a transaction (either you or your husband), then any online transaction can be approved by your assigned signatory. If both of you would agree that two signatories will need to sign a transaction, then both of you will also need to approve online transactions.

      As for security set up, when you’re transferring funds to other accounts, CUA may include external payment passwords, security codes or other measures they deem appropriate.

      3) Are we able to link any account in an individual’s name to this online joint account? Or must we link another joint account to transfer the funds?
      Please note that this eSaver Boost Account can only be linked to a CUA account and not with any non-CUA bank accounts. So if you want to link this to your other (individual) accounts, that bank account must be with CUA as well.

      If you are going to transfer money from other accounts to this eSaver Boost Account, the funds must be transferred first to the CUA everyday account that is linked to this account.

      4) Are bank cards also issued out in case we need to withdraw the cash in an emergency?
      This eSaver Boost Account is an online savings account and does not come with a debit card. So if you’d like to get funds from this account for your emergency needs, you must link this account first with a CUA everyday account.

      Hope this has helped.

      Cheers,
      May

  2. Default Gravatar
    CarleyMarch 9, 2018

    I currently have a Rams online saver…. Trying to find a better online saver…. Whets the best available? Cua ?

    • finder Customer Care
      JoshuaMarch 13, 2018Staff

      Hi Carley,

      Thanks for getting in touch with finder.

      While we are not allowed to provide specific recommendations, let me give you general information to help you make a better choice.

      If you are looking for the right online savings account, please click this link. On that page, you will see a table that conveniently compares your options. Use the sorter buttons to re-arrange your choices.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

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