B
5.15%
p.a.
9.4
Excellent
- Product
- High-Interest Savings
- Issuer
- Bank of Melbourne
- Term
- At call
- Min deposit
- $0
- Max deposit
- $99,999,999
- Interest paid
- At maturity
- Monthly fee
- $0
- Govt guarantee
- Yes — up to $250k
Bonus variable interest rate for each month that you make a deposit and no withdrawals.
Balances $0 to under $19,999.99 = 3.30%
Balances $20,000 to $99,999.99 = 3.30%
Balances $100,000 to $249,999.
Pros
- One of the most competitive variable savings rates
- Up to 5.15% p.a. variable
- No lock-in, withdraw your money any time
- Government guaranteed up to $250,000
- No monthly account-keeping fees
Cons
- Top rate requires meeting monthly bonus conditions
- Variable rate, can change at any time
- Needs $50/month deposit to earn the bonus rate
Overview
This account pays up to 5.15% p.a. variable when you meet the monthly bonus conditions, with interest paid at maturity. Your money stays accessible, there's no lock-in. Deposits are covered by the Government's Financial Claims Scheme up to $250,000 per person.
Who it suits
Savers who want a competitive return while keeping easy access to their cash.
Things to check
The rate is variable and can change at any time. The top rate depends on meeting monthly conditions such as minimum deposits and regular card use.
Rates, fees and product details are indicative, were accurate at the last update, and are subject to change. Confirm the current rate, terms and eligibility with the provider before applying.