Deposit Account rates update
Our response to the RBA’s cash rate announcement.
Interest rate changes
Dated: 30th September 2026
Deposits Interest Rate News - Wednesday 30th September
Reserve Bank of Australia Cash Rate Update
Following the Reserve Bank of Australia's decision to increase the official cash rate, BankSA has announced changes to our deposit account interest rates.
The new deposit rates are effective 9 October 2026.
| Incentive Saver | ||
|---|---|---|
| Rates | Current rate (p.a.) | New rate (p.a.) |
| Standard variable rate | 0.01% p.a. | 0.01% p.a. |
| Bonus variable rate1 |
5.14% p.a. | 5.39% p.a. |
| Total variable rate | 5.15% p.a | 5.40% p.a |
For all current rates on our other deposit products, find out more.
Important information
Internet Banking and Phone Banking Terms and Conditions (PDF 592KB)
Before making a decision about any of our products or services, please read all the terms and conditions and consider whether the product or service is right for you. Fees and charges apply and may change.
1. Incentive Saver Bonus Interest: To meet bonus interest criteria you are required to grow your account by at least $50 a month (for customers 21 or over) or $0.01 a month (for customers under 21) and your account balance can not fall below $0. The eligibility calculation will occur by 11:59pm on the last business day of the month. The rate will be calculated on the daily closing balance of your account at the end of each day.
If you are experiencing digital/online accessibility issues, please talk to us.