BCU Boss Saver account

BCU Boss Saver
Maximum variable rate
5.10% p.a.
Base interest rate
0.55% p.a.
Minimum deposit
$500

Our verdict

Earn an ongoing bonus interest rate of up to 5.10% p.a. on balances up to $100,000.

The BCU Boss Saver account offers a total variable bonus interest rate of 5.10% p.a. when you deposit $500 a month, and make at least 5 card purchases from your linked BCU Access Account each month. You can earn the bonus interest rate on balances up to $100,000.

Pros

  • High bonus rate up to 5.10% p.a.
  • No account fees
  • Bonus interest is available ongoing each month
  • You can make withdrawals and still earn bonus interest

Cons

  • Standard variable rate is quite low
  • Must make 5+ purchases and deposit $500 a month to get bonus interest

In this guide

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

Details

Product details

Product Name BCU Boss Saver
Maximum Variable Rate 5.10% p.a.
Standard Variable Rate 0.55% p.a.
Monthly Account Fee $0
Minimum Age 18

Key features

Ongoing variable rate of up to 5.10% p.a.

This account offers a total, ongoing variable rate of up to 5.10% p.a. on balances up to $100,000 when the account conditions are met (outlined below). This is made up of a standard variable rate of 0.55% p.a. and a bonus variable rate of 4.55% p.a.

Conditions for bonus interest

To earn the full bonus rate you must deposit $500 a month from an external account, and make at least 5 card purchases from your linked BCU Access Account each month. If you don't meet the account criteria one month you'll earn the standard variable rate for that month.

You can make withdrawals.

As long as you deposit $500 a month and make 5+ card transactions a month, you can make withdrawals from your savings and still earn bonus interest. There is no requirement that your account balance needs to grow each month.

Link to a BCU Access Account

You will get both a BCU Boss Saver and BCU Access Account when you open this account. These two accounts are linked, allowing you to easily transfer money from your Access Account into your savings.

The Access Account has no monthly or ongoing fees, and comes with a Visa Debit card to access your money.

How to apply

Eligibility

Check first to make sure that you are able to meet the eligibility requirements:

  • Age. You need to be aged 18 years or older
  • Address. You must have a valid Australian residential address
  • Tax status. You must not be a foreign tax resident.

Compare other savings accounts

1 - 12 of 180
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Rabobank High Interest Savings Account
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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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 Use code EASY30 to score $30 after 5 card purchases in your first 30 days. See terms link on the app store.
Bank of Queensland Smart Saver Account - 36+ years
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 Aged 36+? You can earn 4.9% p.a. on balances up to $250,000 when you meet the account conditions each month.
ING Savings Maximiser
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  • Deposit $1,000
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Suncorp Bank Growth Saver Account
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 Get a solid interest rate on your entire balance, with minimal conditions in order to get the max rate. This account doesn’t offer card access but you can make 1 withdrawal per month & grow your net balance by $200 (excl. interest) to earn the max rate.
P&N Bank Savvy Saver
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Maximum Variable Rate p.a.
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Standard Variable Rate p.a.
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Monthly Max Rate Conditions
  • Deposit $500
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 Get 5.1% p.a. ongoing when you deposit $500 and make 5 debit card purchases per month. Make withdrawals and still earn bonus interest.
ING Savings Accelerator ($150,000 - $500,000)
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8.5 Great
Maximum Variable Rate p.a.
5.15%
Standard Variable Rate p.a.
4.45%
Intro/Ongoing
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Government Guarantee
Monthly Max Rate Conditions
  • Welcome rate applies up to $500K
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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.
St.George Incentive Saver
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Maximum Variable Rate p.a.
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Standard Variable Rate p.a.
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Monthly Max Rate Conditions
  • Grow balance $50 ($0.01 if under 21)
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 Extra 0.10% p.a. for 3 months for new customers who apply online, balances under $250k.
Macquarie Savings Account
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Finder score
8.8 Great
Maximum Variable Rate p.a.
5.10%
Standard Variable Rate p.a.
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Monthly Max Rate Conditions
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Bank of Queensland Simple Saver Account
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Finder score
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Maximum Variable Rate p.a.
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Standard Variable Rate p.a.
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 Open up to 9 accounts to take control of your savings and don't worry about meeting fiddly conditions or paying frustrating fees.
Newcastle Permanent Smart Saver Account
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Standard Variable Rate p.a.
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Westpac Life (18-29 year olds only)
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Standard Variable Rate p.a.
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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. BCU Boss Saver information page

  2. BCU Boss Saver TMD

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