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Incentive Saver

A savings account that rewards you with bonus interest!

  • Earn bonus interest every month you make at least one deposit and no withdrawals
  • No account service fees
  • No minimum monthly balance required
  • Great for people saving towards a goal. Encourages you to save.
Savings account with a competitive rate
  • Earn up to % p.a.3
Earn bonus variable interest
  • Every month you make at least one deposit and no withdrawals
Save on fees
  • No monthly account service fee
  • 1 free withdrawal every month, however bonus interest will not apply for the month if you make a withdrawal.
Easy access

Incentive Saver Account fees

Monthly account service fee


Number of free withdrawals per month


Transaction fees for everyday banking (where a relevant Free monthly withdrawal allowance applies, these transaction fees are payable per transaction after the allowance has been exceeded.

Internet Banking


Phone Banking


BankSA / Bank of Melbourne / Westpac / St.George ATMs in Australia


Electronic agency


Staff assisted


Transaction fees (Free monthly withdrawal allowances do not apply to these fees)

Direct Debit


Periodical Payment


Overseas Cash Withdrawal (including overseas ATM withdrawal)


BankSA / Bank of Melbourne / St.George ATM Mini transaction history request


Frequent Statement (per month)


Foreign Currency Conversion


Collection item


Great for people who want to save towards a goal

Get an incentive to save – with a bonus rate of interest every month you make at least one deposit and no withdrawals. It’s the perfect encouragement to save.

Choose Incentive Saver if you want:

  1. $0 monthly account service fee
  2. Bonus interest rate  every month you make at least one deposit and no withdrawals
  3. All the benefits of a competitive interest savings account without maintaining a minimum monthly balance
  4. Free automatic Direct Credits (like automatic transfers from another account every month), so you save faster
  5. Easy access in branch, ATMs, eftpos, Internet and Phone Banking
  6. All the little extras, like eStatements, mini transaction history at ATMs, optional SMS and Email Alerts2
  7. Available for personal customers only. Not available for businesses or self managed superannuation funds

Keeping track of Incentive Saver is easy!

Internet Banking

View transactions online anytime with Internet Banking1

Paper Statements

Posted to you every 6 months4

Mini transaction history

Available at any BankSA ATM


View, print and save up to 2 years of statements online when you choose eStatements

Yearly interest summary

View and print your Financial Year interest summary with Internet Banking

SMS/Email Alerts

Keep track of how you're saving by setting up a balance alert

Interest rates

Interest rate component


Standard variable rate

% p.a.

Bonus variable interest rate each month that you make a deposit and no withdrawals

% p.a.

Earn up to

% p.a.

The standard variable Incentive Saver rate and bonus interest rate may be changed at any time but the fixed bonus rate will not change while it applies.

Apply online

Open now. It takes just 10 minutes!


Open an account anywhere, anytime via your smart phone. Simply chose one of the following options:

  • go to the BankSA App and select "Open an account"
  • logon to BankSA Mobile Banking and tap the ‘New accounts’ tab

Call us

13 13 76 and say “New account” when prompted

Visit a Branch

Find your nearest branch

What you'll need

Contact details (address, phone number, email address)      

Find out what information you need to provide to become a customer


New to BankSA? To open a bank account in Australia, you’ll need to confirm your identification.

Important information

Conditions and fees apply.

Before making a decision, it’s best to read the terms and conditions.

Please read these documents and keep a copy. You can request a paper copy at a branch.

The information on our website is prepared without knowing your personal financial circumstances. Before you act on this, please consider if it's right for you. If you need help, call 13 13 76.

1 Subject to systems availability.
2 Fees apply for SMS Alerts per month. Email Alerts are free.
3 Includes bonus interest earned when you make at least one deposit and no withdrawals in the calendar month.
4 You have the option to receive statements more frequently.