Bank of us Spring Load
Bonus rate
The Spring Load account is a maximum period (term) account, which is available to Tasmanian residents who are depositing new money with Bank of us. The maximum period commences on the day the account
- Base rate up to
- Not published
- Introductory rate
- None
- Maximum balance
- $1,000,000
Rate with bonus, up to
Rates by balance
| Balance | Base rate | Bonus | Total |
|---|---|---|---|
| $0 to $25,000 | 0.00% | +2.25% | 2.25% |
| $25,000 and over | 0.00% | +5.25% | 5.25% |
Who can open it
- Age to open
- Any
- Maximum balance
- $1,000,000
How it compares
Against the other savings accounts we compare. Typical means the middle half of them.
Most it pays
5.25%
At its best balance, with any bonus. Typical is 3.65%.
Base rate
0.00%
What it pays without a bonus. Typical is 2.40%.
Pros and cons
Pros
- A higher rate. Up to 5.25%, above the typical 3.65%. On $10,000 that's about $525 a year.
- No conditions. You earn the same rate every month, with no deposits to make or withdrawals to avoid.
Cons
- A low base rate. Only 0.00% in any month you miss the bonus conditions.
- A balance cap. Interest is paid on up to $1,000,000, so it suits smaller balances.
Similar savings accounts
Savings accounts from other banks that pay a similar rate at their best.
- Most it pays
- 5.25%
- Bonus conditions
- None
- Most it pays
- 5.25%
- Bonus conditions
- None
- Most it pays
- 5.25%
- Bonus conditions
- None
