---
title: "Life Saver — Greater Bank Limited"
description: "Transaction & Savings Accounts from Greater Bank Limited. Rates, fees, features and eligibility as published under Australia's Consumer Data Right."
canonical: https://www.cdrcompare.au/brands/greater-bank-limited/products/3045
source: "CDR Compare"
language: en-AU
last_updated: 2026-07-28T14:00:00Z
---

# Life Saver — Greater Bank Limited

> Transaction & Savings Accounts from Greater Bank Limited. Rates, fees, features and eligibility as published by the provider under Australia's Consumer Data Right, compared on CDR Compare.

**Transaction & Savings Accounts · Greater Bank**

Conditional savings account for under 25 year olds

## At a glance

- **Base rate:** 5.25%

## Apply

Applications are handled by the provider: [Apply at Greater Bank Limited](https://www.greater.com.au/personal/savings-accounts/life-saver)

## Deposit rates

| Type | Rate | Applies to | Interest paid |
| --- | --- | --- | --- |
| Variable (To qualify for interest, your closing balance must be higher than the opening balance (excluding any interest earned) for the calendar month.) | 5.25% | Amount $0+ | monthly |

## Fees

| Fee | Type | Amount |
| --- | --- | --- |
| EasyPay notification fee - SMS | Withdrawal | $0.20 |
| Stop payment fee — Charged to stop payment of a cheque you have drawn or a bank cheque. | Event | $7.00 |
| Dormant account fee — Charged every 6 months · $15.00 six monthly if an account has no transactions (other than government charges or interest) processed during the preceding 24 months | Ongoing | $15.00 |
| Telegraphic transfer - Australian Currency (Outgoing International Payment) — When transferring in AUD. Fee is inclusive of $40.00 payable to the product issuer, Convera Australia Pty Ltd. | Withdrawal | $50.00 |
| Direct debit dishonour fee | Dishonour | $8.00 |
| Unclaimed monies fee — Charged if an account had no transactions (other than government charges or interest) processed during the last three years.  Fee not applied if account holder is under 18 years of age. | Event | $30.00 |
| Telegraphic transfer - Foreign Currency (Outgoing International Payment) — When transferring in a foreign currency. Fee is inclusive of $20.00 payable to the product issuer, Convera Australia Pty Ltd. | Withdrawal | $30.00 |
| Information fee - Per Page — $20.00 plus $1.00 per page | Enquiry | $1.00 |
| Bulk coin purchase fee - External order | Withdrawal | $8.00 |
| Bank transfer fee — Applicable when receiving an inward RTGS (Real time gross settlement) | Withdrawal | $8.00 |
| Information fee — $20.00 plus $1.00 per page | Enquiry | $20.00 |
| EasyPay notification fee - Letter | Withdrawal | $8.00 |
| SMS alert fee — Charged for each SMS alert that is sent to you notifying you of account balances and/or other nominated transactions. | Transaction | $0.20 |
| EFT transaction fee (RTGS) — Applicable when you send an outward RTGS (Real time gross settlement) | Withdrawal | $20.00 |
| Foreign currency deposit fee | Deposit | $5.00 |
| Bulk coin purchase fee - Existing branch stock  — Existing branch stock 2.00% of total value (minimum $2.00) | Withdrawal | 2% of transaction |

## Features

- **PayID**
- **Notifications** — SMS or Email (Receive notification from bank of your nominated transactions (e.g. low account balance warning; credits over $500))
- **Unlimited transactions**
- **Real-time payments (NPP)**
- **Digital banking**

## Eligibility

- **Must be identifiable in terms of legislative requirements**
- **Individuals only**
- **Residency status** — Australian Residents only
- **Maximum age** — 25 years (Must be under 25 years of age to open the account but can retain it for life.)

## Constraints

- **Opening balance** — $1.00
- **Minimum balance** — $1.00

## More information from Greater Bank Limited

- [Overview](https://www.greater.com.au/personal/savings-accounts/life-saver)
- [Terms & conditions](https://www.greater.com.au/termsandconditions)

## Data provenance

- Published by Greater Bank Limited under the Consumer Data Right
- Product ID: `3045`
- Last updated by the provider: 28 July 2026
- Source payload (JSON): https://www.cdrcompare.au/api/raw/greater-bank-limited/3045
- Provider page: https://www.cdrcompare.au/brands/greater-bank-limited
- CDR register entry: https://www.cdr.gov.au/find-a-provider?provider=000346

---

Source: [CDR Compare](https://www.cdrcompare.au/brands/greater-bank-limited/products/3045) — product data published by Australian data holders under the Consumer Data Right. Not financial advice; no rankings, recommendations or affiliate relationships. Always confirm details with the provider.

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