Alert notice

Alert: Planned maintenance. Sunday 21 April 2024, 12:30AM - 7:30AM AEST. We will be undertaking important maintenance to our digital banking services. Learn more.

Close navigation
2023-12-22 2:05 pm

mySaver

Variable interest rate

4.75

%
p.a.
4.95
%
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.

Existing customer? Login to internet banking

Woman in her early 20s, smiling

Why us?

What you get

StarStarStarStarStar
"Staff who really listen. I went to the city branch with a query about a complex situation. They were able to offer an even more flexible solution for my personal circustances. I chose Bank Australia for its commitment to a better world, but also highly recommend its customer service."
Review by Meg.

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.

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 18 December 2023
Balance
Interest (p.a.)
$0.01 – $50,000
4.95
%
$50,000.01 – $250,000
4.75
%
$250,000.01 – $500,000
4.65
%
$500,000.01 - $1,000,000
4.55
%
$1,000,000.01+
4.45
%
If bonus interest conditions aren't met
0.10
%

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

Eligibility criteria

People aged 13 to 25 (when you turn 25, the account switches to our Bonus Saver)

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

Aged under 13? Read about in our in trust account

Fees and charges

Monthly account fee
$0
Exceeding available funds fee
$10 plus Debit interest rate
Debit interest rate
12.39%
Dishonour fee
$12
Staff-assisted withdrawal fee
$2.50

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

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 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
Bank Australia customer sitting on a rock and looking at the sunset.

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.