Great Southern Bank Home Saver Account

Earn an ongoing bonus rate of 1.3% when you meet the account criteria.

To earn bonus interest you need to link your Home Saver Account to a Great Southern Bank Everyday Edge Account, deposit at least $2,000 a month and make 5 or more transactions from your Everyday Edge account each month. You can make withdrawals and still be eligible for bonus interest.

No reviews yet. Write a review

Alison Banney

Last Updated Sep 6, 2021

1.30% p.a.

Maximum variable rate

0.05%p.a.

Base interest rate

$2,000

Minimum deposit

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

Product Name	Great Southern Bank Home Saver Account
Maximum Variable Rate	1.30% p.a.
Standard Variable Rate	0.05% p.a.
Monthly Account Fee	$0
Minimum Age	18

Pros

Up to 1.3% interest on your savings
Ongoing bonus rate available every month
Make withdrawals and still be eligible to earn the bonus interest
No account keeping fees on linked Everyday Snap Account

Cons

$2,000 monthly deposit requirement for bonus rate
Very low base rate if account criteria aren't met

Review by

Alison Banney

alison.banney@finder.com

Alison Banney is the banking and superannuation editor at Finder. She has written about finance for more than 8 years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.

Expert review

This account offers an ongoing bonus rate of 1.3% which is higher than some other accounts in the market, but not the highest. You need to deposit at least $2,000 a month to qualify for bonus interest which may be difficult if you're not earning a regular income each month.

However, one major benefit with this account is that you can make withdrawals and still qualify for bonus interest. Plus, the bonus interest rate is available ongoing. This means if you fail to meet the deposit conditions one month you can still be eligible for bonus interest if you meet the conditions the following month.

Key features

Bonus interest rate up to 1.3%

This account offers an ongoing bonus rate of 1.3% when the account criteria are met.

To earn bonus interest you need to link your Home Saver Account to an Everyday Edge Account, deposit at least $2,000 a month and make 5 or more transactions from your Everyday Edge account each month.

Make withdrawals whenever you need to

Provided you meet the above account conditions, you can still be eligible for the bonus interest even when you need to withdraw from the account. This gives you the freedom to access your funds when you need to.

No account keeping fees

This savings account has no monthly account keeping fees to worry about. The linked Everyday Edge Account also has no monthly fees.

Linked Great Southern Bank Everyday Edge Account

You need to link your Home Saver Account to an Everyday Edge Account to qualify for bonus interest. This transaction account comes with a Visa debit Card which you can use for day-to-day spending, online purchases and to pay bills.

Set up regular payments into your savings

You can set up automatic regular transfers from your linked transaction account to your Home Saver Account, to help you save effortlessly.

Apple Pay, Google Pay and Samsung Pay available

You can use Apple Pay, Samsung Pay and Google Pay on your linked Everyday Edge Account, to make secure contactless payments with your phone or smartwatch.

Mobile banking app

Use the Great Southern Bank App to keep up to date with your savings, check your balance and transfer funds between your accounts when you're on the go.

How to apply

You can open a Home Saver Account online in less than 10 minutes. Make sure you meet the eligibility requirements and have the necessary documents handy before you begin the application. remember, you'll also need to open an Everyday Edge Account if you want to qualify for bonus interest.

Eligibility

Age requirement. You must be at least 18 years of age.
Residency requirement. You must be an Australian resident or citizen with an Australian residential address.
Account purpose. This account is meant for personal use only, not for business use.

Documentation needed

Personal identification. A valid driver's licence, passport, birth certificate or Medicare card is needed to verify your identity online.
Personal information. Your full name, date of birth and physical address will all be required while filling out the application.

Ask an expert

To ask a question simply log in via your email or create an account.

Click here to cancel reply.

Display Name

Your Email (will not be published)

Your Question

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

Ask a question

Banking

Investments

Banks

Great Southern Bank Home Saver Account