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Bonus Saver

Earn up to


On balances up to $250,000
Terms and conditions apply

Existing customer? Login to internet banking

Why us?

Total bonus interest rate explained

Base variable rate



At a minimum, you'll get this rate (subject to change).

Bonus variable rate



Earn bonus rate by:

Depositing $100+ each month

Make no withdrawals each month

The rate above is for balances up to $250,000.

Bonus rates vary depending on balance amount.

Total bonus interest rate



Total rate (base variable rate + bonus variable rate) you could earn on a new Bonus Saver account (on balances up to $250,000).

The base variable interest rate and bonus variable interest rates apply to your Bonus Saver account if bonus interest conditions are met.

What you get

"Great Experience I have been using Bank Australia for many years, and never regretted mу choice: I appreciate their values, overall focus on the customers and find their services convenient and easy to use."
Review by Alexey.

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.

Round UP

Grow your savings with small change. Eligible purchases on your Visa Debit card are rounded up to the nearest $1, $5 or $10.

Joint accounts

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


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.

Rates, fees, terms and conditions

Current rates if bonus interest conditions are met

Make a deposit of at least $100 and no withdrawals each month to get an interest rate of:

Effective 18 December 2023
Interest (p.a.)
$0 – $250,000
$250,000.01 – $500,000
$500,000.01 – $1,000,000

Base variable rate if bonus interest conditions are not met

Interest (p.a.)
Any balance

Interest rate is variable, calculated daily on whole of balance and credited monthly.

Updates to Bonus Saver interest rate tiers

Interest rate is variable, calculated daily on whole of balance and credited monthly.

On 1 June 2024, we will be introducing an additional interest tier to the Bonus Saver. This tier will apply to balances between $0 - $100,000.00.

The second tier will then apply to balances between $100,000.01 - $250,000.00.

The last two tiers will be combined and the last tier will apply to balances from $500,000 plus.

These changes will automatically apply to the Bonus Saver account on June 1 2024.  

Eligibility criteria

People aged 13+
Aged under 13? Read about how to open an account in our in trust account eligibility criteria

People living in Australia as a permanent resident or with a relevant work visa

Single and joint account holders

Only one Bonus Saver account is allowed per customer, solely or jointly owned

Fees and charges

We’ll waive the staff-assisted withdrawal fees if you:

Exceeding available funds fee
$10 plus Debit interest charge rate
Debit interest charge rate
Dishonour fee
Staff assisted withdrawal fee
$2.50 (unless waived as listed above)

For all fees and charges please refer to Fees, Charges and Transaction Limits

General advice

Information provided is of a general nature only. 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 below and Target Market Determination before making a decision to apply for products with Bank Australia.

Terms, conditions, fees and charges are applicable as outlined below.

Product disclosure documents

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.

Open now

Frequently asked questions

What is the Bonus Saver interest rate?

The Bonus Saver rate is the base variable rate plus the bonus variable rate, which applies when bonus interest conditions are met ($100 minimum deposit and no withdrawals per month).

Are there any deposit conditions on my Bonus Saver account?

You need to make a minimum deposit of $100 to the account and no withdrawals for the month to receive bonus variable rates. If these conditions aren’t met, you will only be eligible to receive the base variable interest rate.

When is interest paid to my Bonus Saver account?

Interest is calculated on the daily balances, and paid at the end of a calendar month or on the day the account is closed.

Can I open more than one Bonus Saver account?

Only one Bonus Saver account is allowed per customer, solely or jointly owned.

How is bonus interest rate calculated?

If interest is payable on your account, it is calculated on a daily basis using the following formula:

Daily Closing Balance X interest rate / 365

The daily closing balance is the credit balance on your account at the end of a day. All current interest rates are available on our website.

How are saving products different to term deposit?

Fixed term deposits offer a guaranteed rate of return on your money for the life of an investment. They are also a low maintenance option so they are more 'set and forget' than savings accounts, which are more flexible with withdrawals but require meeting bonus conditions in order to get the bonus rate. You can learn more about the key differences between term deposits and other savings accounts here.

7 tips to save for summer

Everyone’s been considering smart ways to manage money recently, especially with summer and the holiday period fast approaching. These 7 tips could make a meaningful difference to achieving your saving goals, and you can knock some of them over in less than half an hour.

Learn more

Savings account support

Need support with banking?
Head to our help section for more information.