Heritage Bank Online Saver

This account pays a competitive bonus interest rate to new customers for the first four months after opening the account.

The Online Saver is a fee free account with easy access to your money via Internet and your mobile banking. It's a flexible account; you can make withdrawals from your savings when needed, while still earning interest.

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0.45% p.a.

Maximum variable rate


Base interest rate

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Product NameHeritage Bank Online Saver
Maximum Variable Rate0.45% p.a.
Standard Variable Rate0.30%
Monthly Account Fee$0
Minimum Opening Deposit$1
Minimum Age18

Review by

Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.

Expert review

Earn a really competitive bonus rate of 0.45% p.a. for the first 4 months after opening the account. There's no monthly deposit condition to meet and you can make withdrawals while still earning interest, making this account super flexible.

Key features

Earn 0.45% p.a. for 4 months

This account offers bonus interest up to 0.45% p.a. for 4 months on balances up to $100,000. This introductory bonus rate is offered to new customers only. You must open the account within 60 days of becoming a member.

Ongoing rate of 0.3%

After the introductory period you'll get an ongoing, variable rate of 0.3% on balances up to $249,000.

Easy account access

You are able to access this account through phone and online banking only. Electronic transfers can be made, as well as Pay Anyone and BPAY transactions.

Linked account

The bonus intro rate only applies to new members who open an Online Saver account with a linked eligible Heritage Bank transaction account within 60 days of membership opening.

How to apply

A customer owned financial institution in Australian, you must first become a member before you are able to apply for the Online Saver or any other Heritage Bank product. There are no restrictions on who may become a member so long as you are able to pay the $1 shareholder fee. You can apply for your membership and savings account online and at the same time. Before you apply online, ensure that you are able to meet their eligibility requirements:


  • Minimum age. Heritage Bank makes no stipulations for how old an applicant must be.
  • Residency requirements. Only Australian residents with a residential address are able to open an Online Saver.

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    Default Gravatar
    June 1, 2017

    Who are the other approved financial institutions to whom you can transfer funds?

      Avatarfinder Customer Care
      June 1, 2017

      Hi Vera,

      Thanks for reaching out to us.

      Basically, most of the everyday transaction accounts can actually be used to send and receive money from a third-party account.

      With the Heritage Bank Online Saver, it may not be possible to directly send money to a third-party bank account, so you might have to transfer funds from your online saver to your Heritage Bank account first and then the third party one.

      Hope this helps.


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