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Our verdict

You can earn an introductory bonus interest rate of 5.35% p.a. for the first 3 months.

When applying for the Maxi Saver you'll automatically receive a linked St. George transaction account, no need to complete two applications! This transaction account comes packed with handy features including Cardless Cash and access to the mobile banking app.

Pros

Introductory rate of 5.35% p.a. for first 3 months
$0 Account keeping fees
Unlimited electronic transactions
Bonus interest applies to the entire balance

Cons

Interest rate drops significantly to 1.1% after the introductory period
Required to link to a St.George Everyday bank account

New Maxi Saver customers who open an account online can earn an introductory bonus rate of 5.35% p.a. for the first 3 months. Plus, pay no account keeping fees and make withdrawals whenever you need while still being eligible for interest.

Details

Key details

Product Name	St.George Maxi Saver
Maximum Variable Rate	5.35% p.a.
Standard Variable Rate	1.10% p.a.
Monthly Account Fee	$0
Minimum Opening Deposit	$0
Minimum Age	18

Key features

Introductory bonus interest rate of 5.35% p.a. for the first 3 months

New Maxi Saver customers who open an account online can earn an introductory bonus rate of 5.35% p.a. for the first 3 months. This is made up of the standard variable rate of 1.1%, a bonus introductory rate of 3.9% and an additional bonus rate of 0.35% when you apply online as a new customer.

Once the 3 month period is over, the interest reverts back to 1.1% p.a..

How is my interest calculated?

The interest rate is calculated daily and paid monthly. The bonus interest rate only applies to the first St.George Maxi Saver you open. It is a variable interest rate, so will most likely move alongside the RBA cash rate.

Automatically linked to a St.George Everyday bank account

When opening a Maxi Saver account with St.George, a St.George transaction account will automatically be opened for you. This allows you to transfer your money in and out of your savings account when you need to. Don't worry, this is done in the one application!

$0 Monthly service fee

You will not be charged a monthly account service fee with the Maxi Saver. However, look out for monthly fees applied to the linked St.George bank account.

Other fees that may be charged

Online and phone transactions are free of charge, but you are going to incur a $0 fee if you need teller assistance when completing a transaction.

How do I access my account?

You will have to have your savings account linked with an everyday account from St.George. This allows you to move money into the transaction account and withdraw it from an ATM whenever you need to take money from your savings.

24/7 Online banking available

You can access your bank account on-the-go with Internet, mobile and phone banking. You'll be able to check your balance quickly with "Quick Balance" on the St.George app, as well as take advantage of fingerprint login.

This account is only available for personal use

The Maxi Saver is only intended for personal use. If you are representing a business or trust, you could consider the St.George Business Access Saver account.

Launch savings calculator

How to apply

Eligibility

Before filling out the online application, make sure that you are able to meet the following eligibility requirements:

Your age. Applications will only be accepted from individuals who are at least 18 years of age.
Your residency. You have to be an Australian resident with a verifiable Australian residential address for St.George to open an account in your name.

Starting deposit. In order to open the Maxi Saver account, you will need to make an initial deposit of at least $0.

Documentation needed

Once you determine that you can meet these requirements, you are going to need about five minutes and the following documentation in order to completely fill out the online application:

Identification documents. You will have to provide information from either your driver's licence or passport in order for St.George to verify your identity electronically.
Transaction account details. You will need to provide the account number for the St.George everyday account that you will be using to transfer funds in and out of your savings account with.
Personal information. St.George will need to know your full name, date of birth and residential address.

What happens after I submit my application?

If your St.George everyday account is already in place and you have the information needed readily available, completing the application should take approximately five minutes.

After it has been submitted it should take no more than two business days for the account to be opened. You will be notified by email with the account details so that you may take full advantage of the bonus interest by starting to make deposits immediately.

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cynthia

December 06, 2021

how to delete my maxi account on st george and are there any fees if i keep it without by savings in it?

Alison Banney Finder

December 11, 2021

Hi Cynthia,

For guidance in closing your account, you may visit a St.George branch near you or call them on 13 33 30.

The Maxi Saver doesn’t have monthly account-keeping fees nor does it have a minimum monthly balance/deposit requirements. However, keep an eye out for monthly fees applied to the linked St.George bank account.

I hope this helps.

Best,

Alison

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Craig

November 08, 2018

I am an existing home loan customer of St George.

My daughter is transfering to me $1800 a fortnight from her pay as a forced savings measure (otherwise she just spends it).

I imagine this will keep building for a year or several years.

I need to separate these funds from my own.

What would be the best St George accumulation account for this?

Thanks.

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Joshua Finder

November 21, 2018

Hi Craig,

Thanks for getting in touch with Finder. I hope all is well with you. :)

The best St.George savings account for you would be depending on your needs, preference, and budget. Aside from St. George Maxi Saver, you can explore other St.George savings account using our comparison table.

If you are also open to other brands, there are other high-interest rate savings accounts with interest rates as high as 3.10%.

Once you have chosen a particular account, you may then click on the “Go to site” button to be redirected to the bank’s website where you can proceed with your application or get in touch with their representatives for further assistance.

I hope this helps. Should you have further questions, please don’t hesitate to reach out again.

Have a wonderful day!

Cheers,

Joshua

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Marie

March 28, 2018

Am I considered a “new customer” if I open up a St George Maxi Saver even if I have previously been a customer before with one of your subsidiary banks like Bank of Melbourne ?

Lou Finder

March 28, 2018

Hi Marie,

Thanks for your question.

You are still considered a new customer even if you previously held an account with one of St. George’s subsidiary banks. A new customer is someone who is opening a St.George Maxi Saver account for the first time.

Cheers,

Anndy

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Margaret Comer

September 27, 2017

Are there penalties for withdrawals? i.e reduced interest etc.

Gru

September 27, 2017

Hello Margaret,

Thank you for your query.

The St. George Maxi Saver Account is a savings account that offers the bonus rate for 3 months as an introductory promotion, regardless of any withdrawals you make during this time.

Hope this helped.

Cheers,

Gru

Leonie

January 19, 2017

Is it quicker if I apply in a branch.

Anndy Lou Finder

January 19, 2017

Hi Leonie,

Thanks for your question.

I would say it is generally faster if you open an account online as it would just take about 5-10 minutes to complete the application process. I’m not sure how long it will take if you open at a branch, as that depends on how fast these people can accommodate you.

Cheers,

Anndy

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St.George Maxi Saver savings account

Pros

Cons

Key features

Introductory bonus interest rate of 5.35% p.a. for the first 3 months

How is my interest calculated?

Automatically linked to a St.George Everyday bank account

$0 Monthly service fee

Other fees that may be charged

How do I access my account?

24/7 Online banking available

This account is only available for personal use

How to apply

Eligibility

Documentation needed

What happens after I submit my application?

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