In this guide

  • Our verdict
  • Details
    • Product details
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question
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Australian Unity Freedom Saver

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Australian Unity Freedom Saver
Maximum variable rate
5.20% p.a.
Base interest rate
5.2%p.a.

Our verdict

Australian Unity's Freedom Saver offers a strong interest rate with no withdrawal and deposit conditions, plus zero monthly fees.

The Australian Unity Freedom Saver account has one of the higher ongoing interest rates on the market. And on top of that it has no monthly account fees and no withdrawal or deposit conditions. This means you can earn the maximum interest rate just by putting your savings in the account.

The only downside is that the interest rate decreases for higher balances. So any money you put there above $50,000 earns interest at a lower rate. 

Pros

  • Competitive interest rate
  • No deposit or withdrawal conditions
  • No monthly fees

Cons

  • The maximum interest rate only applies to the first $50,000

In this guide

  • Our verdict
  • Details
    • Product details
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question

Details

Product details

Product Name Australian Unity Freedom Saver
Maximum Variable Rate 5.20% p.a.
Standard Variable Rate 5.20% p.a.
Monthly Account Fee $0
Minimum Opening Deposit $0
Minimum Age 16

Key features

Maximum variable interest rate of 5.2%

Unlike many high interest savings accounts, the Freedom Saver lets you earn the maximum interest rate on the first $50,000 saved in the account by default. There are no minimum deposits required each month and no withdrawal conditions.

The account does have tiered interest rates that decrease for balances beyond $50,000. Remember that you'll still earn the maximum interest rate on the first $50,000. Anything beyond that earns interest at the following rates:

  • $50,001–$250,000: 5.1% p.a.
  • $250,001–$500,000: 5% p.a.
  • $500,001–$5,000,000: 4.25% p.a.

How to apply

You can apply online in a few minutes. Australian Unity will call you within 3 days to let you know if your application is approved.

Eligibility

You are eligible for the Australian Unity Freedom Saver account if:

  • You are 16 years of age or older
  • You are an Australian citizen or resident

Documents you'll need

  • Identification. This can be a driver's licence, passport or Medicare card.
  • Your address. You'll need to provide your residential address.

Compare other savings accounts

1 - 13 of 185
Updated regularly
Name Maximum Variable Rate p.a. Standard Variable Rate p.a. Intro Period Government Guarantee Monthly Max Rate Conditions
Bank of Queensland Future Saver Account - 14 to 35 years
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Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.05%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1,000
  • 5 eligible transactions
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AMP Saver Account
Maximum Variable Rate p.a.
5.40%
Standard Variable Rate p.a.
1.20%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1000 in previous month
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Rabobank High Interest Savings Account
Maximum Variable Rate p.a.
5.75%
Standard Variable Rate p.a.
4.40%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
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Macquarie Savings Account
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
4.75%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
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Westpac Life (18-29 year olds only)
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
2.00%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow your balance
  • 5 debit card purchases
Go to siteView details
Newcastle Permanent Online Savings Account
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
1.00%
Intro Period
3 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
ING Savings Maximiser
Finder Award
Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.55%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1,000
  • 5 transactions
  • Grow your balance
Go to siteView details
St.George Maxi Saver
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
1.10%
Intro Period
3 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
 Max Variable Rate includes 0.35% p.a. for 3 months for new customers who apply online
ING Savings Accelerator ($150,000 - $500,000)
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
4.70%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Welcome rate applies up to $500K
Go to siteView details
First Option Bank Savings+Bonus Account
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
2.00%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $100
  • No withdrawals
  • Balances up to $249,999
Go to siteView details
MyState Bank Bonus Saver Account
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
0.05%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $20
  • 5 debit card purchases
Go to siteView details
IMB Reward Saver Account
Maximum Variable Rate p.a.
5.25%
Standard Variable Rate p.a.
0.00%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $50
  • No withdrawals
Go to siteView details
Bank of Queensland Simple Saver Account
Maximum Variable Rate p.a.
4.85%
Standard Variable Rate p.a.
4.85%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
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Richard Finder

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Peter

April 15, 2024

Do you provide govt deposit guarantee and if yes for how much?


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Sarah Megginson Finder

April 23, 2024

Hi Peter, Yes Australian Unity is covered by the guarantee on balances up to $250,000 per person.


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Richard Whitten

Editor

Richard Whitten is a money editor at Finder, and has been covering home loans, property and personal finance for 6+ years. He has written for Yahoo Finance, Money Magazine and Homely; and has appeared on various radio shows nationwide. He holds a Certificate IV in mortgage broking and finance (RG 206), a Tier 1 Generic Knowledge certification and a Tier 2 General Advice Deposit Products (RG 146) certification. See full profile

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