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Heritage Bank Online Saver

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This account pays a competitive bonus interest rate 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.

1.9% p.a.

Maximum variable rate

0.8% p.a.

Base interest rate

1.1% p.a.

Bonus interest rate

for 4 months

$1

Minimum opening balance

Details

Product NameHeritage Bank Online Saver
Maximum Variable Rate1.9% p.a.
Standard Variable Rate0.80%
Bonus Variable Rate1.10%
Monthly Account Fee$0
Minimum Opening Deposit$1
Minimum Age18

Expert review

Shirley Liu

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 1.9% 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 1.9% p.a. for 4 months

This account offers bonus interest up to 1.9% p.a. for 4 months on balances up to $100,000. This introductory bonus rate is offered to new customers only.

Ongoing rate of 0.8%

After the introductory period you'll get an ongoing, variable rate of 0.8% 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

In order to be able to move money in and out of your savings account, it will need to be linked with another banking product. This can be done using an eligible Heritage Bank account or with an account held by another Australian financial institution if approved by Heritage Bank.


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:

Eligibility

  • 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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2 Comments

  1. Default Gravatar
    Vera
    June 1, 2017

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

    • Avatarfinder Customer Care
      Rench
      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.

      Cheers,
      Rench

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