RACQ Bank Bonus Saver Account
Bonus rate
Our Bonus Saver Account rewards members for saving by providing bonus interest when you deposit at least $100 and make no debit transactions during the month.
6.01%
a year, with bonus, up to
- Base rate up to
- 0.01%
- Introductory rate
- None
- Maximum balance
- None published
Rates by balance
| Balance | Base rate | Bonus | Total |
|---|---|---|---|
| $0 to $99,999 | 0.01% | +6.00% | 6.01% |
| $99,999 and over | 0.01% | +3.75% | 3.76% |
Who can open it
- Age to open
- 13 and over
- Maximum balance
- None published
Limits and conditions
- Bonus Saver accounts are restricted to maximum 2 owned per member.
How it compares
Against the other savings accounts we compare. Typical means the middle half of them.
Most it pays
6.01%
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
- A higher rate. Up to 6.01%, above the typical 3.65%. On $10,000 that's about $601 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 0.01% 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
- 5.75%
- Bonus conditions
- Yes
- Most it pays
- 5.75%
- Bonus conditions
- None
- Most it pays
- 5.75%
- Bonus conditions
- Yes
