Choose the right account
If you need your money to be easily accessible, our Online Saver account works well. Our Bonus Saver account is handy if you're saving for a specific reason and you can regularly add to the account but don’t need to withdraw funds.
Term Deposits are great if you want to invest money for a specific period of time. They offer a guaranteed rate of return on your money. Something to consider with Fixed Term Deposits is that if you wish to access your money before the term deposit matures, a 31-day notice of withdrawal is required.
If you're saving for a house deposit or a big trip, our Budget Planner is useful for calculating monthly living expenses and how much you can afford to save each month.
It’s a good idea to work out your budget and transfer what you think you can save when you receive your salary rather than wait for the end of the pay period to see what’s left. This way you work within a budget and can see your progress towards your savings goal.
Naming or restricting accounts
Our savings accounts can be tagged with a description so it stands out from the other accounts on your statement, internet banking or app.
You can also ask for internet access to be "view only" on selected accounts to help reach a savings goal. With this option, you can see the funds but can only withdraw from it in person at a branch. This avoids any impulse spending.
Another option is to not link the account with your savings to telephone or internet banking. You can set up a recurring transfer to deposit money regularly.
Open an access account
There's an advantage to opening two accounts rather than one, for example an Everyday Access account with a Visa debit card attached and an Online Saver account which is accessible but has a higher interest rate.
Your salary and income can be credited to the Everyday Access and then transferred via internet banking or the app to your Online Saver account to help reach your savings goal.
Interest on the Online Saver account is calculated daily and credited monthly so it all helps to achieve your savings goal.
Remember you can bank fee free with our Everyday Access account. Find out how here.