Great Southern Bank eSaver Reward Account
Earn bonus interest when you deposit $1,000 per month from an external account to a Great Southern Bank transaction account.
The eSaver Reward Account from Great Southern Bank gives you bonus interest when you stick to your savings goals. Deposit $1,000 from an external account into a Great Southern Bank transaction account linked to the Great Southern Bank eSaver Reward Account each month and earn bonus interest on your savings. Bonus interest applies to the first $100,000 of your eSaver Reward balance.
Maximum variable rate
Base interest rate
The eSaver Reward base variable rate of interest is 0.05% p.a. The entire balance of the eSaver Reward Account accrues interest at the base rate of interest. Interest is calculated daily on your Great Southern Bank eSaver Reward Account and paid monthly.
Bonus interest of 0.8% p.a.
Earn a bonus interest rate of 0.8% p.a. on top of the standard rate each month you deposit $1,000 or more from an external account to your Great Southern Bank everyday transaction account. The first $100,000 of Great Southern Bank eSaver Reward Account balance will accrue interest at the bonus plus base rate of interest. Balances greater than $100,000 accrue interest at the base variable rate of interest only.
There is no debit or EFTPOS card or cheque or deposit book issued with the eSaver Reward Account. Access your funds by making electronic transfers to your linked Great Southern Bank transaction account or accounts with other financial institutions. The bonus interest rate still applies if you make withdrawals from this account.
Get your salary paid directly to your Great Southern Bank transaction account so you qualify for the bonus interest each month.
Set up a direct debit agreement so you can pay your bills directly from the Great Southern Bank eSaver Reward Account.
Register for online banking and make BPAY payments to service providers.
You can open this account with just $1. This is the minimum amount you must keep in the account.
You must hold an eligible Great Southern Bank everyday transaction account in conjunction with the Great Southern Bank eSaver Reward Account. Eligible Great Southern Bank everyday accounts include: the Great Southern Bank Everyday, Everyday Youth, Everyday 55+, Everyday Business, Prime Access, Freedom Plus and Platinum Plus accounts.
Pay no monthly account fees and no fees for online transfers to your linked Great Southern Bank transaction account. Fees may apply for eSaver staff assisted transactions at a Great Southern Bank branch.
You can open this account in your own name or jointly with another person. There's a limit of one eSaver Reward Account per person and this must be your first Great Southern Bank eSaver Reward Account.
How to applyYou can start an online application for the Great Southern Bank eSaver Reward Account by visiting the Great Southern Bank website. The application can be completed in 10 - 15 minutes.
- Age. You must be over the age of 18 to apply for this account.
- Deposit. You can open this account with a starting balance of $1
If you're a new Great Southern Bank customer, you need to verify your identity when you apply for the eSaver.
- Identification. Enter your Australian passport or driver's licence document details to verify your identity online.
- Personal details. Enter your full name, your date of birth, Australian residential address, mobile or landline phone number and your email address when prompted.
- Tax. Provide your Tax File Number (TFN) to Great Southern Bank or your TFN exemption code. You're not required to give this information to Great Southern Bank, the credit union will withhold tax on your interest earnings at the marginal rate if this information is not supplied.
What happens after I submit my application?
If the Great Southern Bank eSaver Reward Account is your first Great Southern Bank product, the credit union will provide steps to open an everyday transaction account when you apply for the eSaver Reward Account.
Once you've verified your identity with Great Southern Bank , and you have a linked everyday transaction account, you can register for online banking and start making deposits to the Great Southern Bank eSaver Reward Account. If you want to set up a direct debit to your Great Southern Bank eSaver Reward or everyday account, give Great Southern Bank the account name, number and BSB of the account you want to debit the funds from.