mySaver

Earn up to

No items found.

p.a.

4.85 % 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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Existing customer? Login to internet banking

Why us? What you get Rates and information Open an account Support Open now

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.

What you get

Great bank - honest and progressive. Focused on customers, the environment and sustainability. Why would you bank anywhere else?

Review by Amanda.

See more on Productreview.com.au

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 'subscriptions' – simply by opening a second Bank Australia savings account, like Online Saver.

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.

Rates, fees, terms and conditions

Current interest rates

Make a deposit of at least $10 and no withdrawals each month to get an interest rate of:

Effective 3 March 2025

Balance	Interest (p.a.)
$0 – $50,000	4.85 %
$50,000.01 – $250,000	4.50 %
If bonus interest conditions aren't met	0.10 %

Interest rate is variable, calculated daily on whole of balance and credited monthly. Receive interest on balances up to $250,000.
‍
The mySaver is only available to customers under 25 years of age.
If you are not eligible for this account it will be closed.

Savings and term deposit rates

Eligibility criteria

People aged 0 to 25. Aged under 13? Read about our bank accounts for children
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
Single and joint account holders. Only one mySaver is allowed per customer, solely or jointly owned

Fees and charges

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

Are a school or not-for-profit entity
Have a Bank Australia Offset Home Loan or Clean Energy Home Loan in the same name

Exceeding available funds fee	$10 plus Debit interest charge rate

Debit interest charge rate	12.39%

Staff assisted withdrawal fee	$2.50 (unless waived as listed above)

For all fees and charges please refer to Deposit fees, charges and transaction limits

General advice

The mySaver is available to customers aged 0 to 25. 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 are applicable as outlined below.

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Product disclosure documents

How to open an account

What you'll need to apply

You will need to provide two of the following forms of ID for your child:

Birth certificate and Medicare card, or;
Australian Passport
As their parent or guardian, you need to be living in Australia as a permanent resident or with a relevant work visa and provide the following forms of ID to identify yourself:

Australian Drivers Licence, or;
Australian Passport
If your child is 12 or younger, you as their parent or guardian will operate the account as a signatory.

Call us or visit a branch below to open an account for your child.
Call us Visit a branch

What you'll need to apply

Your child will need to provide the following forms of ID:

Birth certificate and Medicare card, or;
Australian passport, or;
Australian driver’s license
If your child is 13 years or older and if you wish to be a signatory on their account this can be arranged by visiting a branch or calling us.

Call us or visit a branch below to open an account for your child.
Call us Visit a branch

What you'll need to apply

If you are 18+ you can open a mySaver account online. To apply, you will need one of the following IDs:

Australian driver's licence, or;
Australian passport
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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.

Start now

mySaver

Why us?