Greater Bank Life Saver
No conditions on the rate
Conditional savings account for under 25 year olds
5.50%
a year, up to
- Base rate up to
- 5.50%
- Introductory rate
- None
- Maximum balance
- None published
Rates by balance
| Balance | Base rate |
|---|---|
| Any balance | 5.50% |
Who can open it
- Age to open
- Up to 25
- Maximum balance
- None published
Who it's for
- Must be identifiable in terms of legislative requirements.
How it compares
Against the other savings accounts we compare. Typical means the middle half of them.
Most it pays
5.50%
At its best balance, with any bonus. Typical is 3.65%.
Base rate
5.50%
What it pays without a bonus. Typical is 2.40%.
Pros and cons
Pros
- A higher rate. Up to 5.50%, above the typical 3.65%. On $10,000 that's about $550 a year.
- No conditions. You earn the same rate every month, with no deposits to make or withdrawals to avoid.
Cons
- An age limit. Only for people up to 25.
Similar savings accounts
Savings accounts from other banks that pay a similar rate at their best.
- Most it pays
- 5.50%
- Bonus conditions
- None
- Most it pays
- 5.50%
- Bonus conditions
- None
- Most it pays
- 5.50%
- Bonus conditions
- None
