Bonus Saver Account interest rate increase from 1 July.
| Bonus Saver | Current rate | From 1 July 2023 |
|---|---|---|
| Base rate | 0.05% p.a. | 0.05% p.a. |
| Bonus rate | 4.70% p.a. | 4.95% p.a. |
| Maximum rate | 4.75% p.a. | 5.00% p.a. |
You'll earn a total variable rate of 5.00% p.a. (that's the variable base rate of 0.05% p.a. plus a variable 4.95% p.a. bonus) when the Bonus Saver Account eligibility criteria is met on balances up to $250,000:
- Make an eligible deposit of $20+ into your Bonus Saver Account each month; and
- Make 5+ settled (not pending) eligible Visa Debit card transactions each month from your linked account (excludes ATM withdrawals, transfers, balance enquiries and EFTPOS cash-out only transactions).
Interest calculated daily, paid monthly and interest rates subject to change from time to time. Bonus interest applies when eligibility criteria met. Bonus interest is payable only on balances up to $250,000. The base rate of interest will be paid on the portion of any balance exceeding $250,000. Current interest rates are available in interest rates for personal deposit accounts.
Eligible deposits to Bonus Saver account include: Transfers between your accounts, direct credits, NPP transactions, cash deposits, SWIFT payments and Telegraphic Transfers (TT). Ineligible deposits to Bonus Saver account include: Bank@Post deposits or transfers, cheques, money orders, travellers cheques, international drafts and foreign currency. Interest credit, fee refunds or returned payments are also ineligible.
Eligible Visa transactions must be settled in the current month (not pending) and include; EFTPOS transactions and EFTPOS transactions with cash out, online purchases and in store purchases, regular card payments, payWave, Apple Pay, Google Pay, Samsung Pay, Garmin Pay and Fitbit Pay transactions.
Was with MyState for many years, interest rates are good although their phone app looks like it was made by 10 year olds.