5 ways to make it easier to save this new financial year
With the New MyState Hello Saver account, you can start growing your savings without the usual hoops or monthly conditions now on balances up to $500k.
Sponsored by MyState Bank. With the new Hello Saver account, you can earn a 5.40% p.a.1 variable welcome rate for 4 months on balances up to $500k as a new MyState Bank customer. T&Cs apply.
With the new financial year just around the corner, many people are reassessing their current financial tools to see if they're still fit for purpose.
That includes high interest savings accounts. After all, plenty of savings accounts are needlessly complex. Sure, there might be a great interest rate attached, but what's the point if you need a degree in mathematics to carry out all of the requirements to earn it?
Forget to make a deposit, need to withdraw some cash or miss a transaction in one month and suddenly your annual "great" rate isn't so great after all.
With this in mind, we're taking a look at some of the ways that you can make earning interest on your savings easier for yourself. We'll also be answering some of the most common queries about MyState's hassle-free, Hello Saver account, and how it can help with saving.
Does the MyState Hello Saver account offer a good interest rate?
Yes. As of June 2026, the MyState Hello Saver account offers an introductory rate of 5.40% p.a.1 for 4 months, on balances of up to $500,000 for new MyState Bank customers.
The ongoing interest rate is 5.00% p.a. on balances of up to $500,000.
Some T&Cs do apply to receive the Welcome rate, but there are no conditions or criteria to earn this introductory rate or ongoing interest. So you can "set-and-forget" while still earning interest.
Does the MyState Hello Saver have conditions on earning monthly interest?
One of the most common challenges of modern savings accounts are requirements on number of transactions, minimum deposit requirements and more.
By contrast, let's take a look at what the MyState Hello Saver account doesn't require:
- No conditions or criteria to meet to earn the welcome rate or ongoing interest
- No minimum deposits
- No linked transaction account required
- No withdrawal penalties
An account without stringent interest requirements - like the MyState Hello Saver - can make it easier to save both in the short and long term.
Automate payments directly from your savings
With MyState's Hello Saver account, you're able to schedule payments straight from your savings account, without affecting your interest – and in most cases, without any fees.
🧾Organise bills
💰Get paid directly into your Hello Saver account
💸Send funds to friends or family
💳Transfer cash to your everyday account
📲Manage your money on your mobile
With Hello Saver, you can set up BPAY®, Direct Debit, PayID and automatic transfers, or send money immediately with OSKO.
Does the MyState Hello Saver account have features that will help me save?
Yes! The MyState Hello Saver account has a built-in feature called Savings Goals.
Savings Goals allows you to organise your savings goals into 10 different categories, attaching personalised names, amounts and target dates.
This allows you to have real-time insights into how your savings goals are progressing.
You're able to update these as required, as goals are met or life circumstances change.
Additionally, with Savings Goals, in combination with MyState Bank's Glide transaction account, you'll be able to see your spending and savings patterns, and get personalised tips, making managing your money easy.
Does the MyState Hello Saver account charge fees?
The MyState Hello Saver account doesn't charge fees for everyday use or charge withdrawal penalties.
Other fees and charges may apply under some circumstances -- you can visit the MyState website to find out more.
Are there other ways that MyState can help me with saving?
Although you don't need to add or link a transaction account to Hello Saver to earn great interest, MyState also offers their Glide transaction account.
By having both your savings and everyday transaction account with MyState Bank you're able to get access to a wealth of insights and tools directly from their banking app or online banking, making it easier to understand your spending and saving patterns
These can help you with the next steps on your financial journey.
Learn more about the Hello Saver account from MyState Bank
Sponsored by MyState Bank. With the new Hello Saver account, you can earn a 5.40% p.a.1 variable welcome rate for 4 months on balances up to $500k as a new MyState Bank customer. T&Cs apply.
Terms and conditions
Hello Saver has tiered interest rates applicable to the portion of your balance. Interest rates are annual percentage rates, calculated daily, paid monthly and subject to change.
- Welcome variable interest rate applies only to new MyState Bank customers with no prior relationship, including as account holders (single or joint), signatories, powers of attorney, guarantors, or trustees. The welcome rate applies to balances up to $500,000 for the first 4 months on the first Hello Saver account opened. After 4 months, all balances earn the ongoing variable interest rate applicable to the portion of your balance. If you or any joint account holders have had a prior relationship with MyState Bank, you will earn the ongoing variable interest rate(s).
Any advice provided does not take into account your personal objectives, financial situation or needs and you should consider whether it is appropriate for you.
Please consider the relevant Disclosure Documentation and Target Market Determinations before acquiring any product. Please review our Financial Services Guide (FSG) before accessing information on this website. Terms and conditions, fees and charges may apply. Information, including any rates, are current as at 26 May 2026 and are subject to change.
© MyState Bank Limited (MyState Bank) ABN 89 067 729 195 AFSL 240896 Australian Credit Licence Number 240896. A wholly owned subsidiary of MyState Limited ABN 26 133 623 962.
Image: @Lais Schulz via Canva.com