The St.George Bank Power Saver is a fee free savings account that allows you to have immediate access to your money without worry of break fees. Available for both individuals and DIY super investments, this is a convenient account to help you build on your savings.
St.George Power Saver account is no longer available for new applications. The information provided and bank account cannot be applied for, however, the information on this page has been kept for the benefit of existing customers and for those who are interested.
If you would like to compare other savings accounts, please go through our comparison page.
What are the features of the St.George Power Saver Account?
When comparing savings account found with different Australian banks, it is important that you are looking at some key features. See what the Power Saver Account is providing for you and compare these features with what other banks are offering:
- Monthly account keeping fees. You will not be charged any monthly account keeping fees for this account.
- Accessibility. This is an on call account, allowing you to access your money whenever you need through online banking, branch and ATM or EFTPOS.
- Other fees. You are allowed an unlimited number of online and phone transactions without having to pay any fees.
- Minimum balance. There is no minimum balance requirement.
- Interest rates. The interest rates for this account are competitive, and allow you to earn bonus interest for the first four months after the account has been activated.
- Interest payments. Interest is calculated daily and paid into the account each month.
- Joint applications. This account is available for joint holders as well as trustees of DIY Super Funds.
How do I apply for the St.George Power Saver Account?
This account is no longer available with St.George Bank. If you are interested in saving with St.George Bank, look over the features and benefits of the Maxi Saver account.
If you like the features that your savings gets from the Power Saver Account, click “Go to Site” to be taken to their secure application page. You should make yourself aware of the eligibility requirements before proceeding:
- Minimum age. The age requirement for the Power Saver Account is at least 14 years of age. If you are under 14 you should either visit or phone a branch for instructions on how to open your account.
- Residency requirements. You must be a permanent Australian resident.
- Depository requirements. A minimum of $1 is needed in order for the account to be opened.
You will also need to have certain documentation on hand in order to make it easier when filling in your online application:
- Tax identification number. Your tax file number (TFN) is not mandatory, but providing it or your exemption code ensures that all of your interest earnings are taxed at the correct rate.
- Identification. Photo identity documents such as your driver’s licence or passport will be needed to verify your identity.
If you are an existing St.George customer, you can complete the application through your account. This will enable St.George to process your application rapidly. Once your application has been received you will get an automatic email containing your application number and any next steps you have to take. New customers will need to complete an identification check at a branch or Bank@Post before any withdrawals or deposits can be made using the account.