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mySaver

Variable interest rate

4.75
%
p.a.
On balances up to $50,000
‍Terms and conditions apply

The under 25’s savings account for teens, students and young adults with a nice bonus for regular saving.

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Why us? Who it's for?What you getOur ratesFees and chargesRelated topicsOpen now

Great habits start young

Finder Green Awards 2023
Green Bank of the Year
Learn more
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Earn up to

4.75
%
p.a.
On balances up to $50,000
‍Terms and conditions apply
Effective 25 September 2023
See rates and fees
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Why us?

Earn bonus interest

Whether you’re saving as a teen or young adult, to boost your savings with our bonus interest rate, simply deposit $10+ and make no withdrawals in the month.

Be the change

What if the money in your bank account helped other people and the planet? When you bank with us, it does.

The guarantee

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

Who it's for

This savings bank account is 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
  • Teens, youths, students and young adults who are learning to save
  • Aged under 13? Read about in our in trust account

Is this product right for you? Find out more

What you get

StarStarStarStarStar
"Setting up an account is very easy. 5/5."
Jasmine from Vic
See more on Productreview.com.au
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Online access

Use the Bank Australia app and internet banking to check your under 25's savings account 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 Bank Australia app or internet banking.

Joint accounts

Open an account with another person. Joint accounts are available with any of our transaction or savings accounts, including for teens, students and young adults.

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.



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.



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Current interest rates

Effective 25 September 2023
Balance
Interest (p.a.)
$0.01 – $50,000
4.75
%
$50,000.01 – $250,000
4.55
%
$250,000.01 – $500,000
4.45
%
$500,000.01 - $1,000,000
4.35
%
$1,000,000.01+
4.25
%
If bonus interest conditions aren't met
0.10
%

Future interest rates

Effective 3 July 2022
Balance
Interest (p.a.)
$0.01 – $50,000
4.45%
$50,000.01 – $250,000
4.25%
$250,000.01–$500,000
4.15%
$500,000.01 – $1,000,000
4.05%
$1,000,000.01+
3.95%
If bonus interest conditions aren't met
0.10%

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

3 good news stories from Bank Australia’s conservation reserve
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Sustainable Christmas gifts for 2023
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5 burning questions you might have about term deposits
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See more at the Bank Australia blog
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Important information

General advice

The mySaver is available to customers aged 13 to 25 (when you turn 25, the account switches to our Bonus Saver). If you are not eligible for this account it will be closed.

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 may be applicable as outlined below.

Product disclosure documents

Account Access facility conditions of use

Fees, Charges and Transaction Limits

Summary of accounts

Savings accounts Target Market Determination