BankVic SMSF Saver

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Updated
Fact checked

Our verdict

Put the cash portion of your super to work in a flexible savings account with a competitive rate of interest.

BankVic is a recognised financial institution, which ensures that funds of up to $250,000 are guaranteed as per the Australian Government Guarantee Scheme.

Pros

  • Interest calculated daily and paid monthly
  • Unlimited deposit
  • Online access
  • Not required to maintain a minimum balance

Cons

  • Australian resident

In this guide

  • Our verdict
  • Details
    • Key details
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question

Aimed at those who manage their own superannuation fund, the BankVic SMSF Saver offers a high interest rate for the cash portion of your SMSF balance. Your balance will earn an ongoing, variable rate of 2.25% and there are no account keeping fees to pay.

Details

Key details

Product Name BankVic SMSF Saver
Maximum Variable Rate 2.25% p.a.
Standard Variable Rate 2.25% p.a.
Monthly Account Fee $0
Minimum Opening Deposit $0
Minimum Age 18

Key features

No account management fees

There are no account keeping or management fees charged to you with the SMSF Saver.

A competitive interest rate of 2.25%

On all portions of your balance up to $5,000,000 you will earn a competitive interest rate of 2.25%. This is a variable rate that is subject to change.

How to apply

Before you apply for this account, check you meet the eligibility criteria and have the necessary documents handy.

Eligibility

  • Minimum age. Applicants need to be at least 18 years of age.
  • Residency requirements. You must be a legal resident of Australia or an Australian citizen in order for your application to be accepted.

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Earn a high interest rate of 5.45% for the first 4 months and then 4% thereafter, with $0 account keeping fees and no monthly balance requirements.
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Bank of Queensland Simple Saver Account
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Maximum Variable Rate p.a.
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Monthly Max Rate Conditions
  • Grow balance $50 ($0.01 if under 21)
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Macquarie Savings Account
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Maximum Variable Rate p.a.
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Earn 5.1% p.a. for the first 4 months then 4.75% p.a. ongoing with no conditions to meet. Earn the ongoing rate on balances up to $1 million.
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ING Savings Accelerator ($150,000 - $500,000)
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Maximum Variable Rate p.a.
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Monthly Max Rate Conditions
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Ideal for higher balances, savers can earn up to 5.15% for the first 4 months and up to 4.45% thereafter. There are no conditions and $0 account-keeping fees.
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Bank of Queensland Future Saver Account - 14 to 35 years
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Maximum Variable Rate p.a.
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Standard Variable Rate p.a.
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BCU Bonus Saver
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Standard Variable Rate p.a.
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IMB Reward Saver Kick Start
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Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
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Monthly Max Rate Conditions
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How the Finder Score helps you find a better savings account

The Finder Score is a simple score out of 10. The higher a savings account's score, the better we think it is for the average customer.

We score each savings account in our database of hundreds based on a data-driven methodology with 2 main criteria: Does the account offer a high interest rate? And is it easy for savers to actually earn that rate?

Read the full Finder Score breakdown

Sources
  1. BankVic SMSF Saver information page
  2. BankVic SMSF Saver TMD

Your reviews

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Alison Finder

Editorial Manager, Money

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Alison Banney

Editorial Manager, Money

Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full profile

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