CUA eSaver Plus Account

CUA eSaver Plus Account

Maximum Variable Rate

2.75

Standard Variable Rate

0.25

Power your savings with up to 2.75% p.a.

  • Up to 2.75% p.a. interest earned
  • No account keeping fees
  • No online or phone transaction fees

Product details

With competitive interest rates and simple terms that facilitate saving, the CUA eSaver Plus Account might be a more effective way to reach your goals than other accounts.

You still earn base rates of 0.25% p.a. in months where you don't meet the bonus interest terms.

Product Name
CUA eSaver Plus 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 $200 and no withdrawals in a calendar month.
Monthly Fee
$0
Minimum Opening Deposit
$1
Minimum monthly deposit for bonus interest rate
$200
Internet Banking
Yes
Internet Transaction Fee
$0
Phone Banking
Yes
Phone Transaction Fee
$0
Joint application?
No
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 Plus Account?

Compare the features of the CUA eSaver Plus account with options from other financial institutions, and see whether it's right for you.

$0 monthly fee.

There are no monthly fees with the CUA eSaver Plus account.

2.75% maximum variable rate.

Take advantage of this account's interest rates, and earn up to 2.75% p.a. This maximum rate is current as of January 24, 2017,  but as a variable rate may change over time.

0.25% p.a. base interest rate.

You will still earn 0.25% p.a. base interest rate in months where you don't meet the bonus interest requirements.

2.50% p.a.bonus interest.

Each month that you deposit at least $200, and don't make any withdrawals, you will earn an additional 2.50% p.a. Interest payments do not count towards the monthly deposit requirement. Any portion of the account balance over $1 million will only earn base interest.

Interest calculated daily and paid monthly.

Your interest is calculated against your balance every day and paid into the eSaver Account at the end of each month.

Free online and phone transactions.

You have full access to your account with CUA online banking, Telebanker, SMS Banker or the CUA app, and get unlimited fee-free online and phone transactions.

$1 minimum balance.

You can open this account with only $1, and earn full interest on balances of up to $1,000,000 when meeting the monthly requirements.

Direct credit and debits.

You can set up the account to make direct credits or debits using electronic banking. By setting up automatic deposits of $200 per month to this account, you can "set and forget" to let the balance grow.

Joint account.

There can be two names on this account, but only one individual’s signature can operate it.

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

How do I apply for the CUA eSaver Plus Account?

Compare the terms and conditions of the CUA eSaver Plus Account with other options to make sure it's right for your needs.

Eligibility to apply

  • Minimum age. You need to be at least 18 years old to open this account.
  • Residency requirements. You must be a permanent resident of Australia with a verifiable residential address.
  • Depository requirements. A $1 initial deposit is required to open this account.

Documentation required

If you meet the eligibility requirements, you will then need the following documentation to open this account:

  • Tax file number. Providing your tax file number isn't mandatory, but without one your interest earned will face withholding tax at the highest marginal rate.
  • Identification. Photo identification is required to open this account.
  • Direct debit account. If you plan on making deposits using direct debit, you will need to provide the BSB, account number and name on the account from which the money will be withdrawn.
  • Membership number. As a community bank, CUA products are for members only. If you are not already a member, you will need to switch to CUA first.

Existing CUA members can open a CUA eSaver Plus account immediately, as soon as the initial deposit is made. If you are signing up for the first time it will take a bit longer as CUA needs to verify your details first.

For other options, including youth and seniors' accounts with their own competitive rates, see other CUA savings accounts.
See other CUA savings accounts.

What other CUA accounts are available?

If you’re thinking of applying for the CUA eSaver Plus account, you can earn a maximum variable rate and a standard variable rate. To earn the bonus interest, you will need to make total deposits of at least $200 and no withdrawals in a calendar month.

For other options, including youth and seniors' accounts with their own competitive rates, see other CUA savings accounts.

See other CUA savings accounts.

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4 Responses to CUA eSaver Plus Account

  1. Default Gravatar
    Roslyne | February 7, 2017

    Can you explain 2.75% maximum variable rate.( CAN THIS RATE GO DOWN/)

    Take advantage of this account’s interest rates, and earn up to 2.75% p.a. This maximum rate is current as of January 24, 2017, but as a variable rate may change over time.

    0.25% p.a. base interest rate.( WHATDOES THIS MEAN)

    2.50% p.a. bonus interest.( PLEASE EXPLAIN)

    • Staff
      May | February 7, 2017

      Hi Roslyne,

      Thank you for your inquiry.

      1. Can you explain 2.75% maximum variable rate. CAN THIS RATE GO DOWN?
      The interest rate is variable, which means it could change according to the movements of the RBA cash rate.

      2. 0.25% p.a. base interest rate. WHAT DOES THIS MEAN?
      This is the standard rate you will earn on your CUA eSaver Plus Account in months where you don’t meet the bonus interest requirements.

      3. 2.50% p.a. bonus interest. PLEASE EXPLAIN.
      You will earn an additional 2.50% p.a. to the standard rate (0.25% p.a.) if you deposit at least $200 each month and don’t make any withdrawals.

      Cheers,
      May

  2. Default Gravatar
    Amanda | January 27, 2017

    Hi
    If you make a withdrawal in a calendar month, does that mean that you receive the lower rate of interest for that month only.
    Amanda

    • Staff
      Anndy | January 27, 2017

      Hi Amanda,

      If you make any withdrawals for a particular month or did not meet the deposit criteria, you’ll only receive the base rate for that month. You’ll earn the bonus rate again in the succeeding months if your meet the criteria.

      Cheers,
      Anndy

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