In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Your reviews
  • Ask a question
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Great Southern Bank Goal Saver Account (18-24 year olds)

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Great Southern Bank Goal Saver Account (18-24 year olds only)
Maximum variable rate
5.35% p.a.
Base interest rate
0.5%p.a.
Minimum deposit
$500

Our verdict

The Goal Saver Account has an attractive ongoing bonus rate of 5.35% p.a. on balances up to $50,000 for customers aged 18-24.

This savings account is for customers aged between 18 and 24 and offers an ongoing bonus rate of 5.35% p.a. This rate is higher than a lot of the big banks, but not quite as competitive as some other savings accounts in the market offered for under 30s.

However, compared to other youth savings accounts that do offer a higher bonus rate, this account has flexible account conditions which could be ideal for newer savers. You need to deposit $500 a month, but you’re able to make withdrawals from your savings when you need. This could be handy if you find you make a few impulse purchases or need to dip into your savings from time to time for unexpected expenses.

Pros

  • High, ongoing bonus rate each month
  • Make withdrawals and still earn bonus interest
  • No fees on savings account or linked account

Cons

  • Only available to 18-24s
  • Rate is slightly lower than other leading youth savings accounts in the market

In this guide

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

Details

Key details

Product Name Great Southern Bank Goal Saver Account (18-24 year olds only)
Maximum Variable Rate 5.35% p.a.
Standard Variable Rate 0.50% p.a.
Monthly Account Fee $0
Minimum Age 18

Best Young Adult Savings Account Finalist

Congratulations to Great Southern Bank Goal Saver Account (18-24 year olds only) for being a finalist in the Best Young Adult Savings Account category in the 2024 Finder Awards.

Full list of 2024 winners

Key features

Ongoing bonus rate up to 5.35% p.a.

This account offers an ongoing bonus rate of up to 5.35% p.a. for customers aged 18-24. To earn the full bonus rate you need to:

  • Deposit at least $500 into your linked Great Southern Bank Edge Account each month
  • Make at least 5 transactions from your Edge Account each month

If you don’t meet the account conditions one month you’ll only earn the standard variable rate of 0.5% p.a. that month. The bonus rate is available on balances up to $50,000.

Are you over 24?

If you're aged 25 or older you can open the Great Southern Bank Home Saver Account instead. This account offers an ongoing bonus rate of 5.25% p.a. when you deposit $2000 a month and make 5+ transactions.

Launch savings calculator


How to apply

You can apply online in less than 10 minutes.

Eligibility

  • Minimum age. You must be between 18-24 to open this account.
  • Residency. You must have an Australian residential address.

Your reviews

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Ask a question

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Alison Finder

Editor

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