This account is designed to help you save, offering a high bonus interest rate as an incentive to stick to your savings goals. Simply deposit a small amount each month and make no withdrawals, and you'll receive the high bonus interest rate!
Regional Australia Bank Savings Booster
- Maximum variable rate
- 5.00% p.a.
- Base interest rate
- 0%p.a.
- Minimum deposit
- $100
Our verdict
Earn bonus interest rate of 5% p.a. by simply depositing $100 a month and making no withdrawals.
Rest assured that if you do need to access your cash for an emergency or unexpected cost, you can, it just means you forfeit your interest for that month.
Pros
-
Internet and mobile banking
-
Instant access to funds
-
Boosted interest of 5.00% p.a.
Cons
-
You must deposit a minimum of $100 each month to earn interest
-
Limited branch network
Details
Key details
| Product Name | Regional Australia Bank Savings Booster Account |
| Maximum Variable Rate | 5.00% p.a. |
| Standard Variable Rate | 0.00% p.a. |
| Monthly Account Fee | $5 |
| Minimum Opening Deposit | $0 |
| Minimum Age | 18 |
Eligibility
| Minimum Age | 18 |
| Joint account availability | No |
| Minimum Deposit | $0 |
| Available to children | Not available for children |
Key features
Deposit at least $100 and don't make any withdrawals through the month to receive maximum interest for that month. There is also a monthly access fee charged to this account, which is waived if you're under 18 or you have over a certain balance of funds in your Regional Australia Bank membership.
How to apply
You need to become a member of Regional Australia Bank in order to open an account. Do this by phoning the bank or visiting one of its branches. Alternatively, you can fill in an enquiry form on Regional Australia Bank's website and a member of their team will get in touch to help you open an account.Your reviews
No reviews yet.
Write a review
Alison Finder
Editor
Hi there, looking for more information? Ask us a question.
You are about to post a question on finder.com.au:
- Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
- finder.com.au is a financial comparison and information service, not a bank or product provider
- We cannot provide you with personal advice or recommendations
- Your answer might already be waiting – check previous questions below to see if yours has already been asked
Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms Of Service and Finder Group Privacy & Cookies Policy.
This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.
More resources on Finder
Banking
Investments
Banks