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Our verdict

This is a great ongoing rate considering there are no monthly conditions to meet and you can make withdrawals whenever you want.

This rate of 4.2% p.a. isn't the highest in the market, but, considering there are no conditions to meet to get it it's actually quite good. This account could suit you if you want to earn a decent amount of interest without having to jump through any hoops.

Unlike some other savings accounts that don’t allow you to make withdrawals, this account allows you to withdraw as often as needed while still earning interest each month, making it a flexible option for savers. There are also no monthly deposit conditions to meet, so it could suit you if you don't have a regular income or simply don't want to have to remember to make a monthly deposit.

Pros

No account conditions to earn the ongoing 4.2%
No monthly account fees
Can make withdrawals and still earn interest

Cons

Interest rate not as high as some others in the market

Details

Key details

Product Name	Great Southern Bank eSaver Flexi
Maximum Variable Rate	4.20% p.a.
Standard Variable Rate	4.20% p.a.
Monthly Account Fee	$0
Minimum Opening Deposit	$1
Minimum Age	18

Key features

$0 monthly fees

This account doesn't charge monthly account-keeping fees.

Earn an ongoing interest rate of 4.2% p.a.

This account offers an ongoing variable rate of 4.2% p.a. on your savings balance. You don't need to meet any account conditions to earn this rate.

Make withdrawals whenever you need to

This account is really flexible and allows you to make withdrawals throughout the month while still earning interest on your balance.

Interest calculated daily

The interest is calculated daily and paid into the account each month, so you'll earn interest on top of your interest each day.

Small minimum balance of $1

There's a small minimum balance requirement of just $1 for this account, so you don't need to save a large deposit to get started. There's also no maximum balance requirement, making this account a good option for customers with large savings balances.

Link to any Australian bank account

You can link your Great Southern Bank eSaver Flexi account to any Australian transaction account, so you can move money into and out of the account when needed.

Enjoy 24/7 access to your account

You can access your account and keep an eye on your savings by logging into Great Southern Bank's online banking portal or by using Great Southern Bank's mobile banking app.

How to apply

Eligibility

You can open a Great Southern Bank eSaver Flexi Account online in less than 10 minutes. Make sure you meet the eligibility requirements and have the necessary documents ready.

Age requirements. You must be at least 18 years of age to open this account.
Residency requirements. You must be an Australian resident or citizen with an Australian residential address.

Documentation needed

Personal identification. You will need a valid driver's licence, passport, birth certificate or Medicare card to complete the online application.
Personal information. You'll also need to enter your full name, date of birth and residential address.

What happens after I submit my application?

Once you've completed the application and Great Southern Bank has verified your identity online, your new eSaver Flexi account will be opened once you meet the initial deposit requirement of $1.

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