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!
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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
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Alison Finder
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