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