In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Your reviews
  • Ask a question
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BCU Bonus Saver account

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BCU Bonus Saver
Maximum variable rate
5.00% p.a.
Base interest rate

Our verdict

Earn 5% p.a. for the first 4 months with no deposit conditions to meet.

This account could suit you if you’re looking for a decent return on your savings but you don’t want to worry about meeting any ongoing conditions. It could also suit you if you’ve got a large balance to invest, as you can earn interest on balances up to $5 million. A lot of savings accounts only pay interest on balances up to $250,000.

The ongoing 1% p.a. rate is quite low, however, there are no conditions to meet. So it may suit you if you’re looking for an easy, set-and-forget option.


  • Bonus rate of 5.00% p.a. with no conditions to meet
  • Earn interest on your entire balances up to $5 million
  • Make withdrawals and still be eligible for interest


  • The bonus rate is only for the first 4 months
  • The ongoing variable base rate is quite low

In this guide

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


Key details

Product Name BCU Bonus Saver
Maximum Variable Rate 5.00% p.a.
Standard Variable Rate 1.00% p.a.
Monthly Account Fee $0
Minimum Age 18

Key features

Introductory bonus rate of 5% p.a.

New customers will earn a bonus interest rate of 5% p.a. for the first 4 months after opening the account. You can earn this rate on your entire balance, with a maximum balance limit of $5 million.

Ongoing interest rate of 1% p.a.

After the 4 month period ends the rate will revert to the standard variable rate, currently 1% p.a. You can earn this rate on your entire balance.

No monthly conditions to meet

You don't need to meet any monthly deposit conditions, spend requirements or minimum balance requirements in order to earn interest. You can also make withdrawals from your savings whenever you want and still be eligible for interest.

Launch savings calculator

How to apply


Check first to make sure that you are able to meet the eligibility requirements:

  • Personal account. This account is only for individual use.
  • Age. You need to be aged 18 years or older
  • Address. You must have a valid Australian residential address

Documentation needed

  • Identification. You will need at least 2 forms of identification, this could include a driver's license, passport, Medicare card, or Australian birth certificate.
  • Personal information. You’re going to be asked for your full name, date of birth, and Australian address.
  • Tax File Number (TFN). While providing your TFN is optional, it will help you ensure you're not being taxed at the maximum marginal tax rate.

Your reviews

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November 20, 2023

Are the funds covered under the Government $250,000 guarantee ?


Richard Whitten Finder

November 22, 2023

BCU is an ADI so deposits up to $250K are protected. You can read more about how this applies to BCU here.



September 07, 2023

Can I withdraw the money after 4 months with no penalties


Alison Banney Finder

September 08, 2023

Hi, you can withdraw the money at any point. This account is a savings account and is not locked like a term deposit account.

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