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Alert: Planned maintenance - Internet Banking: Sunday 14th August, 12:30am-2:30am AEST. We will be conducting important maintenance across our internet banking platform. During this time our internet banking platform will be offline. We apologise for any inconvenience. Card transactions and ATM withdrawals will be unaffected during the maintenance window. Call us on 132 888 for any questions, we're here 'til 8pm AEST or between 9am and 2pm AEDT tomorrow.

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2022-08-12 2:08 pm
Alert

Interest rate announcement - 12 August 2022. Bank Australia will increase variable home loan and commercial variable rates in response the RBA’s recent decision to raise the official cash rate. From 18 August 2022, interest rates will increase by 0.50% for variable rate owner-occupier and investor loans, while commercial variable rate loans will also increase by 0.50%. For existing home loan customers, repayment changes will be effective from 1 October 2022. Read more here.

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2022-06-21 5:06 pm
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mySaver

The savings account for the under 25’s with a nice bonus for regular saving.

Great habits start young

Finder Green Awards 2021
Green Bank of the Year
See all reviews

Earn up to

1.45
%
p.a.
Effective 1 August 2022
See rates and fees

Why us?

The guarantee

Savings are protected by the Australian Government guarantee on combined deposits up to $250,000.

Who it's for

  • People aged 13 to 25 (when you turn 25, the account switches to our Bonus Saver)
  • Single and joint account holders
  • People living in Australia as a permanent resident or with a relevant work visa
  • Aged under 13? Read about in our in trust account

Is this product right for you? Find out more

What you get

"Setting up an account is very easy. 5/5."
Jasmine from Vic

Online access

Use the Bank Australia app and internet banking to check your savings and move money if you need to.

No monthly fees

With no account fees, deposit fees or online transfer fees, it’s just straightforward savings.

Instant transfers

Move money instantly with Osko. And use PayID to pay and be paid the simple way.

Direct access

Check your balance and access your money at any time in the app or internet banking.

Joint accounts

Open an account with another person. Joint accounts are available with any of our transaction or savings accounts.

Security

Know your money is safe with card controls, security alerts and more.

Savings buckets

Organise your savings into buckets – think ‘bills’ and ‘holidays’ – simply by opening a second Bank Australia savings account, like Online Saver.



Round up to save more

Here’s how it works. When you buy something, you can choose to round up the amount to the nearest dollar, and the difference is sent to your savings account. Like putting coins (remember them?) in a jar – but the jar’s your savings account, earning you interest.

Read more
Above: Bank Australia App

Join the clean money revolution

Get started in less than 5 minutes – all you need is your driver’s licence or passport, and your Medicare card.

Join now

Current interest rates

Effective 1 August 2022
Balance
Interest (p.a.)
$0.01–$50,000
1.45
%
$50,000.01–$250,000
1.25
%
$250,000.01–$500,000
1.15
%
$500,000.01-$1,000,000
1.05
%
$1,000,000.01+
0.95
%
If bonus interest conditions aren't met
0.01
%

Future interest rates

Effective 1 August 2022
Balance
Interest (p.a.)
$0.01–$50,000
1.45%
$50,000.01–$250,000
1.25%
$250,000.01–$500,000
1.15%
$500,000.01–$1,000,000
1.05%
$1,000,000.01+
0.95%
If bonus interest conditions aren't met
0.01%

Fees and charges

Here's what to expect with our mySaver:

  • Monthly fee $0
  • Staff-assisted transaction $2.50

It pays to know. Read the Product Disclosure Document and see all rates and fees before deciding if this account is right for you.

Money, People & Planet

See more at the Bank Australia blog

The fine print

The mySaver is available to customers under 25 years of age only. If you are not eligible for this account it will be closed.

General advice warning: In providing you with this information you should consider the appropriateness of this advice with regards to your particular financial situation and needs. You should consult the Product Disclosure Documents before making a decision to apply for products with Bank Australia.

Terms, conditions, fees and charges may be applicable.

Bank Australia is committed to delivering memorable and superior service to all customers. We welcome your feedback, compliments and/or complaints about our performance.