Great Southern Bank Goal Saver Account (18-24 year olds)
- 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
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 |
Congratulations, Great Southern Bank!
Great Southern Bank Goal Saver Account (18-24 year olds only) received the highly commended award for 'Young Adult Savings Account' in the 2024 Banking Product Awards.
Full list of 2024 winnersYour reviews
Alison Finder
Editor
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