LCU Savvy Saver
Bonus rate
Reach your savings goals faster with bonus interest rate by making a minimum deposit of $200 and no withdrawals during the month
- 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 |
|---|---|---|---|
| $0 to $100,000 | 0.01% | +4.00% | 4.01% |
| $100,000 to $500,000 | 0.01% | +3.90% | 3.91% |
| $500,000 to $1,000,000 | 0.01% | +3.80% | 3.81% |
| $1,000,000 and over | 0.01% | +3.70% | 3.71% |
Who can open it
- Age to open
- Any
- Maximum balance
- None published
Who it's for
- Must be a shareholder owning a $10 share. Each shareholder holds an equal share regardless of their balance. Shareholders have a say in how we are run. "Own your Bank". $10 share is refunded if you choose to close your account.
- To be eligible to join you must be at least 8 years of age and referred by a family member or friend who already has an account with LCU. Alternatively you may be eligible to join if you: work or live in the greater Ryde area; have an association with Riverside Corporate or Macquarie Park; or work in a STEM industry.
How it compares
Against the other savings accounts we compare. Typical means the middle half of them.
Most it pays
4.01%
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
- No conditions. You earn the same rate every month, with no deposits to make or withdrawals to avoid.
Cons
- A low base rate. Only 0.01% in any month you miss the bonus conditions.
Similar savings accounts
Savings accounts from other banks that pay a similar rate at their best.
- Most it pays
- 4.00%
- Bonus conditions
- None
- Most it pays
- 4.00%
- Bonus conditions
- Yes
- Most it pays
- 4.00%
- Bonus conditions
- None
