In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Your reviews
  • Ask a question
Finder makes money from featured partners, but editorial opinions are our own.

Bank First First Home Bonus Saver Account

  • Avatar
Bank First First Home Bonus Saver Account

This product is not currently available via Finder. Visit the provider's website directly, or compare other options.

Compare other options
Maximum variable rate
4.60% p.a.
Base interest rate
Minimum deposit

Our verdict

Earn bonus interest and get $600 cashback when you start saving for a home deposit with a First Home Bonus Saver Account from Bank First.

If you then combine the money you save with a home loan from Bank First, you will receive $600 cashback and will also be able to take advantage of a waived home loan establishment fee.


  • High variable interest rate of 4.60% p.a.
  • $0 account-keeping fees
  • No minimum deposit
  • $600 home loan cashback


  • Limited branch network
  • Requires a monthly deposit of $100 to earn bonus interest
  • Any withdrawals made will forfeit the bonus interest for that month

In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Your reviews
  • Ask a question

Buying your first home is one of the biggest financial decisions you’ll ever make and getting the money together for a deposit can be a daunting challenge. To help its customers save to buy their first home, Bank First offers the First Home Bonus Saver Account. With no minimum deposit, the account pays competitive bonus interest whenever you deposit at least $100 per month and don’t make any withdrawals.


Key details

Product Name Bank First First Home Bonus Saver Account
Maximum Variable Rate 4.60% p.a.
Standard Variable Rate 0.05% p.a.
Monthly Account Fee $0
Minimum Opening Deposit $0
Minimum Age 18

Key features

Bonus interest

A base variable interest rate applies to the account at all times. However, in months when you deposit at least $100 into your account and don't make any withdrawals, a generous bonus interest rate applies. This allows disciplined savers to build a bigger balance faster and save towards their first home.

Interest calculated daily

The interest paid on your First Home Bonus Saver Account is calculated daily and credited to your account balance on a monthly basis.

See more Bank First products

How to apply

If the First Home Bonus Saver Account sounds like it could be the right account to help you save for a new home, click on the "Find out more" link on this page. You will be securely redirected to the Bank First website, where you can read the full terms and conditions of the account and begin an application.


However, before you apply, it's important to make sure that you satisfy the eligibility criteria:

  • Minimum age. You must be at least 18 years of age to open a First Home Bonus Saver Account.
  • Residency requirements. This account is only available to Australian residents.

Your reviews

No reviews yet. Write a review

Ask a question

Ask a question

Alison Finder


Hi there, looking for more information? Ask us a question.

Error label

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • 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
Accept and continue

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 Service and Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.

Go to site