Gateway Bank Ltd makes it easy to meet the terms for high interest earnings with its online account. There is no limit to the number of deposits or withdrawals you make, but a competitive interest rate is applied to your deposit if you can meet and maintain a minimum balance requirement. Plus, watch your savings grow faster with the benefit of compound interest.
What are the features of the Gateway eMax Saver High Interest Savings Account?
A high interest savings account can help you secure your financial future. Consider what you get with the Gateway eMax Saver compared to online savings accounts offered by other Australian banks:
- Interest rate. A competitive interest rate is applied to balances over $1,000. A nominal base rate is issued when your balance falls below that amount.
- Interest payment frequency. Interest is calculated daily and paid into your account on the last day of each month.
- Monthly account-keeping fee. You won’t be charged any fees for the maintenance of your savings account.
- Accessing your funds. You have access to your account through internet and mobile banking, CUE Call, BPAY, direct debit and credit, periodical payments, in branch and with CBA deposits slips (if you’re already a holder of CBA deposit slips).
- CUE Call. This feature allows you to transfer money from a nominated account with the same membership number into and out of your savings account.
- Gateway 2go. Gateway Bank Ltd has an app that lets you access your account from your smartphone. Gateway 2go is available to download from the iTunes App Store or Google Play Store, and it lets you see your account, use calculators and find the nearest ATM. There is a daily transaction limit of $1,000 when using the app.
- Unlimited withdrawals and deposits
- Access your account anytime via Internet banking
- Pay your bills via BPay
- Higher interest on balance for $1,000 or more
- An interest of only 0.01% on balances under $1,000
How do I apply for the Gateway eMax Saver High Interest Savings Account?
If you’re already a member of Gateway Bank Ltd, you can call or email to apply for your new eMax Saver High Interest Savings Account. If you’re not yet a member, you can click “Go to Site” in order to begin filling out an online membership application. When the application asks about the account you are interested in, choose eMax Saver. Before getting started, check that you meet the following eligibility requirements:
- Minimum age. There are no age requirements for becoming a Gateway Bank Ltd member.
- Residency requirements. You must have a residential address in Australia to apply.
- Depository requirements. There is no minimum opening balance requirement, but you’ll need to maintain a balance of at least to benefit from a high interest savings account.
If you qualify to become a member and take advantage of the eMax Saver High Interest Savings Account, gather together the following documentation before heading to the credit union to begin your application:
- Tax file number (TFN). While your TFN is not required, tax on your interest earnings will be withheld at the highest marginal rate if you choose to not provide it.
- Identification. In order to verify your identity, you will have to bring with you a driver’s licence, passport or your Medicare card.
Once a member of Gateway Bank Ltd, you’re allowed to benefit from any of its financial products, including the eMax Saver High Interest Savings Account. Once your account has been activated, you can start making deposits in order to reach the required to earn bonus interest.