Bank of Melbourne Maxi Saver
Bonus rateIntroductory rate
A savings account that offers a great interest rate with access to funds through a linked account via Internet and Phone Banking.
- Base rate up to
- 1.25%
- Introductory rate
- 5.15% for 6 months
- Maximum balance
- None published
Rate with bonus, up to
Rates by balance
| Balance | Base rate | Bonus | Total |
|---|---|---|---|
| Any balance | 1.25% | +0.45% | 1.70% |
How to earn the bonus
Open an account online and earning an extra online bonus rate for the first 6 months. For a limited time only. New Maxi Saver customers only. Offer may be varied or withdrawn at any time.
Who can open it
- Age to open
- Any
- Maximum balance
- None published
Who it's for
- An account may be opened in a child's name when the child is under 14, with a parent, guardian, or grandparent as authorised signatory.
- To hold a Maxi Saver account, you must also hold an eligible Bank of Melbourne transaction account in the same name and be registered for Internet and Phone Banking. Joint accounts are ineligible for the Online bonus offer.
How it compares
Against the other savings accounts we compare. Typical means the middle half of them.
Most it pays
1.70%
At its best balance, with any bonus. Typical is 3.65%.
Base rate
1.25%
What it pays without a bonus. Typical is 2.40%.
Pros and cons
Pros
Nothing stands out.
Cons
- A lower rate. Up to 1.70%, below the typical 3.65%, so your savings grow more slowly than in many other accounts.
- Conditions for the bonus. You need to meet them every month, or you earn only the base rate.
- An intro rate. Part of the rate lasts 6 months, then drops, so check again when it ends.
Similar savings accounts
Savings accounts from other banks that pay a similar rate at their best.
- Most it pays
- 1.70%
- Bonus conditions
- Yes
- Most it pays
- 1.70%
- Bonus conditions
- Yes
- Most it pays
- 1.75%
- Bonus conditions
- None
