mySaver
The under 25's savings account for teens, students and young adults with a nice bonus for regular saving.
- Base rate
- 0.1%
- Bonus rate
- 5%
- conditions apply
Deposit Rates
| Type | Rate | Applies To | Interest Paid |
|---|---|---|---|
| Variable The base variable rate applies if the bonus conditions are not met. If the bonus conditions are met then the bonus variable rate applies in addition to the base variable rate. The interest rate is calculated daily on whole of balance and credited monthly. | 0.1% | Base Variable Rate | monthly |
| Bonus Earn monthly bonus interest when $10 is deposited each month and there are no withdrawals in the month. If these conditions aren't met, you will only be eligible to receive the base variable interest rate. · Bonus interest when you deposit at least $10 each month. · Bonus interest when you make no withdrawals in a calendar month | 5% | $0.01 to $50,000 | monthly |
| Bonus Earn monthly bonus interest when $10 is deposited each month and there are no withdrawals in the month. If these conditions aren't met, you will only be eligible to receive the base variable interest rate. · Bonus interest when you deposit at least $10 each month. · Bonus interest when you make no withdrawals in a calendar month | 4.65% | $50,000.01 to $250,000 | monthly |
Fees
| Fee | Type | Amount |
|---|---|---|
| Dishonour Fee A fee charged where a debit presented to us is dishonoured because there aren't enough available funds in your account. | Dishonour | $0.00 |
| International transaction fee (ITF) When you undertake an International transaction on a Bank Australia Visa Debit Card you will be charged the fee. An International transaction is any purchase, withdrawal or credit in a currency other than Australian Dollars or where the merchant or financial institution accepting the transaction is outside of Australia or where there is a currency conversion. | Transaction | 3% of transaction |
| Staff assisted withdrawal fee A fee charged for taking money out of your account with the assistance of a staff member, charged on the day the service is provided. | Event | $0.00 |
| Monthly Fee Charged monthly · A flat fee payable on the last day of each month. | Ongoing | $0.00 |
| Staff assisted international payment in foreign currency This fee is charged when you make an International Payment in foreign currency via a Branch or the Contact Centre. The cost is per transfer. | Transaction | $30.00 |
Features
- Bill payment (BPAY) — BPAY
- You can pay bills with the BPAY logo via Bank Australia App or Internet Banking.
- Digital banking
- You can self-serve your day-to-day banking needs via Bank Australia's App or Internet Banking.
- Notifications — Account Notifications
- Notifications can be enabled in the App or through Internet Banking, allowing you to be alerted either by email, sms or through the App about your account activity.
- Real-time payments (NPP)
- Move money and pay people instantly with Osko.
- PayID
- With PayID you can forget your BSB and account number - simply use your mobile, email or ABN to receive payments. This account can be linked to a PayID.
- Round Up: When you make a transaction with your Visa debit card, you can decide whether you want the amount to be rounded to the nearest whole dollar amount, with the round up being credited from your transaction account into your nominated Savings account or Credit Card. This account can receive Round Up credits.
Eligibility
- Maximum age — 24 yearsUnder 25 years of age
- Minimum age — 0 yearsChildren aged 12 years and younger requires that a parent or guardian is a signatory to the account until the child turns 13 years old. At the age of 13 years old, the parent or guardian may at the child's election, cease to be a signatory.
- Individuals onlyNatural Person or In trust for a Natural Person
- Personal, Joint and Trust
- Only one mySaver is allowed per customer, solely or jointly owned
- Residency status — AUMust be an Australian citizen, permanent resident or have a valid Visa.
More Information
Published by Bank Australia under the Consumer Data Right · Last updated 24 June 2026 · Product ID a87013b2-5589-4f32-a410-2c3c1d661137 · View on CDR.gov.au