Finty
Regional Australia Bank

Regional Australia Bank Savings Booster Account

Bonus rate

Boost the interest on your savings every month that you stick to your savings plan!

Written byDavid Boyd
Base rate up to
Not published
Introductory rate
None
Maximum balance
$250,000

Rate with bonus, up to

Open account

Rates by balance

BalanceBase rateBonusTotal
$0 to $250,0000.00%+5.00%5.00%
$250,000 and over0.00%None0.00%

How to earn the bonus

Interest is per annum. Deposit at least $100 and don’t make any withdrawals through the month to receive boosted interest for that month. Bonus interest paid on portion of account balance up to $250,000. Interest payable reverts to Base Interest if interest conditions are not met. Base Interest applies on the whole balance.

Who can open it

Age to open
Any
Maximum balance
$250,000

Who it's for

  • Individual memberships and Business Memberships - this account is available for individuals, groups, businesses, associations or trusts.
  • As a customer-owned bank, customers must also become a shareholder of Regional Australia Bank to be eligible to open an account.

Limits and conditions

  • Only one Savings Booster account per individual member. If a member has multiple memberships they may still only have one Savings Booster account. Sub Accounts are not permitted.

How it compares

Against the other savings accounts we compare. Typical means the middle half of them.

Most it pays

5.00%

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

Nothing stands out.

Cons

  • A low base rate. Only 0.00% in any month you miss the bonus conditions.
  • Conditions for the bonus. You need to meet them every month, or you earn only the base rate.
  • A balance cap. Interest is paid on up to $250,000, so it suits smaller balances.

Similar savings accounts

Savings accounts from other banks that pay a similar rate at their best.