BankSA Incentive Saver
Bonus rate
An account that rewards you with bonus interest for regular saving to help you save faster.
- Base rate up to
- 0.01%
- Introductory rate
- None
- Maximum balance
- None published
Rate with bonus, up to
Rates by balance
| Balance | Base rate | Bonus | Total |
|---|---|---|---|
| Any balance | 0.01% | +5.39% | 5.40% |
How to earn the bonus
Add money to your account (interest payments don't count). Grow your balance before the last business day of the month
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.
How it compares
Against the other savings accounts we compare. Typical means the middle half of them.
Most it pays
5.40%
At its best balance, with any bonus. Typical is 3.65%.
Base rate
0.01%
What it pays without a bonus. Typical is 2.40%.
Pros and cons
Pros
- A higher rate. Up to 5.40%, above the typical 3.65%. On $10,000 that's about $540 a year.
Cons
- A low base rate. Only 0.01% in any month you miss the bonus conditions.
- Conditions for the bonus. Add money to your account (interest payments don't count). Grow your balance before the last business day of the month. Miss them in a month and you earn the base rate.
Similar savings accounts
Savings accounts from other banks that pay a similar rate at their best.
- Most it pays
- 5.40%
- Bonus conditions
- Yes
- Most it pays
- 5.40%
- Bonus conditions
- Yes
- Most it pays
- 5.45%
- Bonus conditions
- Yes
