So many ways to save
Now that your Maxi Saver bonus rate has expired, you will now earn the standard variable rate of 1.00% p.a.
Here’s how your new interest rate compares
1.00 % P.A.
Standard variable base rate
Maxi Saver
What your money is currently earning with a Maxi Saver standard variable base interest rate.
4.90 % P.A.
Total variable rate
Incentive Saver
What your savings could earn with your Incentive Saver account (includes 0.10% p.a. variable base rate and a variable bonus rate of 4.80% p.a. when you grow your balance each month).
5.30 % P.A.
Fixed rate for 24 months
Term Deposit
Includes the Fixed Rate Special Offer2 of 5.20% p.a. and an additional 0.10% p.a. online bonus offer3 when you open online. Terms and conditions apply. As an existing Bank of Melbourne customer, you may also be eligible for a bonus rate on top of our standard rates.
Get rewarded for saving with an Incentive Saver account
Prefer a fixed-term savings rate?
- Pick the term that suits you and enjoy the security of a fixed interest rate
- Manage your account via Online Banking; no need to call or visit a branch
- Choose to have your interest paid monthly, keeping your income regular
Conditions, fees and charges apply. These may change or we may introduce new ones in the future. Full details are available on request. Lending criteria apply to approval of credit products. This information does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it. Read the disclosure documents for your selected product or service, including the Terms and Conditions or Product Disclosure Statement, before deciding. Unless otherwise specified, the products and services described on this website are available only in Australia from BankSA - A Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.
1. Bonus interest: payable for each month the account’s monthly closing balance (excluding interest), being the day after the last business day of the previous month to the last day of the current month, has not fallen below zero and has grown compared to its opening balance as stipulated below. For customers aged 21 years and over: When you grow your account by at least $50 a month. For customers aged under 21 years: When you grow your account by $0.01 a month. (Please note, for joint accounts, both account holders must be under 21).
- Existing BankSA personal and sole trader customers taking up a Special Offer Term Deposit.
- Opened, or renewed during the grace period, via Internet Banking, the App or by talking to us. Not available in Business Banking Online.
- Not available for Financial Institutions or Government customers.
- For renewing Term Deposits, customer-initiated instructions must be provided in the grace period.
- We reserve the right to withdraw, amend or extend the offer at any time.
- Rate and offer apply for a single term.
- Higher or lower rates may apply for subsequent terms.
- You must provide a minimum of 31 days’ notice to access funds prior to maturity (except in cases of hardship).
- If the deposit or any part of it is withdrawn early, an interest rate adjustment will usually apply.
- Term Deposits opened or renewed during the grace period via Internet Banking or the App only. Not available in Business Banking Online.
- The bonus offer will be applied in conjunction with any other rate offer that may apply.
- Not available for customers who are not able to open or renew via Internet Banking (e.g., some joint accounts), business customers except sole traders or Term Deposits held as security.
- For renewing Term Deposits, customer-initiated instructions must be provided in the grace period.
- We reserve the right to withdraw, amend or extend the offer at any time.
- Rate and offer apply for a single term.
- Higher or lower rates may apply for subsequent terms.
- You must provide a minimum of 31 days’ notice to access funds prior to maturity (except in cases of hardship).
- If the deposit or any part of it is withdrawn early, an interest rate adjustment will usually apply.