Regional Australia Bank Savings Booster
Earn bonus interest rate of 0.55% p.a. by simply depositing $100 a month and making no withdrawals.
This account is designed to help you save, offering a high bonus interest rate as an incentive to stick to your savings goals. Simply deposit a small amount each month and make no withdrawals, and you'll receive the high bonus interest rate!
Deposit at least $100 and don't make any withdrawals through the month to receive maximum interest for that month. There is also a monthly access fee charged to this account, which is waived if you're under 18 or you have over a certain balance of funds in your Regional Australia Bank membership.
How to applyYou need to become a member of Regional Australia Bank in order to open an account. Do this by phoning the bank or visiting one of its branches. Alternatively, you can fill in an enquiry form on Regional Australia Bank's website and a member of their team will get in touch to help you open an account.
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.
Rest assured that if you do need to access your cash for an emergency or unexpected cost, you can, it just means you forfeit your interest for that month.