MyState Special eSaver Account Review | Up to 0.65% p.a. | finder.com.au
finder.com.au

MyState Special eSaver Account

Alison Banney
Alison Banney
Last updated:  

Earn up to 0.05% p.a. on balances up to $24,999 with no monthly deposit requirements or access restrictions

The MyState Special eSaver account offers competitive, tiered variable interest rates, starting from 0.05% p.a. for balances up to $24,999. Balances over this earn even more interest, meaning the more you save, the more interest you will earn. Unlike other savings accounts on the market, there are no ongoing deposit requirements to earn interest and there is no minimum opening balance, so you can get started today.

0.65% p.a.

Maximum variable rate

0.05%p.a.

Base interest rate

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!

Details

Product NameMyState Bank Special eSaver Account
Maximum Variable Rate0.65% p.a.
Standard Variable Rate0.05%
Monthly Account Fee$0
Minimum Opening Deposit$0
Minimum Age14

Expert review

Alison Banney

Review by

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

Expert review

This savings account allows you to withdraw money whenever you may need it, without impacting the interest you earn. It’s the best of both worlds, halfway between a savings account and an everyday account.

Key features

Earn 0.05% interest on balances up to $24,999

This account provides tiered interest rates, with higher rates for higher balances. Balances under $24,999 will earn 0.05%.

See the tiered interest rates below.

Balance Interest rate p.a.
$0-$24,9990.05%
$25,000 - $49,9990.1%
$50,000 - $149,9990.35%
$150,000 - $249,9990.5%
$250,000 or more.0.65%

No minimum balance required

There is no minimum balance required to open an account and you can start earning interest on balances as low as $1.

Launch savings calculator

How to apply

You can apply online in less than 10 minutes. Before you begin your application, make sure you meet the following eligibility requirements and have the below documentation handy.

Eligibility

  • Age requirements. You must be over the age of 14 to apply for this account.
  • Residency. You must be an Australian resident with an Australian residential address.

Ask an expert

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

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

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.

2 Comments

    Default Gravatar
    Tom
    June 9, 2017

    I have $120,000.00 to invest in an interest bearing account. I do not want one which has a bonus component which is withdrawn after a stated period, requires any top up or has fees attached. What is the best investment offer?

    Reply
      Default Gravatar
      Jonathan
      June 10, 2017

      Hi Tom!

      Thanks for the comment.

      You may visit our high-interest savings accounts page to compare your options and use our calculator to choose the rates we have available. It would show the list of financial institutions that you can choose from.

      Based on your stated preferences, you may also consider credit unions as they are known for less fees and better rates than most banks.

      Before you use any financial product, Tom, please read through their terms, conditions, and features to see if they are the right choice or not.

      Hope this helps.

      Cheers,
      Jonathan

      Reply
Go to site