3 reasons to opt for a high interest savings account this year
Give your savings an extra boost with the right account for your saving style.
Sponsored by BCU Bank. Select from a range of savings accounts to earn interest while still having access to your funds when needed. Get started today at BCU Bank's website. T&Cs apply.
With 2025 just kicking off, it's a great time to reassess your savings goals. That starts with having the right savings account in place.
1. You could grow your savings more rapidly
One of the reasons to opt for a dedicated savings account is to earn interest – giving your funds a boost in the process.
But everyone saves differently – so it's important to have a savings account that suits your preferred saving style.
Let's look at BCU Bank's savings accounts as an example.
- Boss Saver offers the highest variable interest rate from BCU, with up to 5.10% p.a., so you can earn while using your everyday bank account. Bonus interest is earned on balances up to $100k when you deposit a minimum of $500 and make 5 eligible transactions from your linked BCU transaction account each month.
- The Bonus Saver offers bonus interest (5.00% p.a.) for the first four months the account is open. This can be an effective way to give your savings a boost straight away.
- The iSaver allows you to earn interest on a tiered rate. So the more you save, the more interest you'll earn.
2. You can round up with Pay & Save
Some savings accounts allow you to link your everyday account.
Then whenever you make purchases, you can round it up and send the difference straight to your savings.
Though it might not seem like much in the moment, these small amounts can add up to significant additions to your savings over time.
If you sign up for a BCU Savings account, you'll be given the option to link your BCU Access Account to it via a mobile app.
To get a feel for how much you can save, check out the budgeting app mymo by BCU.
3. You can get flexibility with your funds
Some savings accounts will lock you into very rigid conditions.
But having a degree of flexibility can be quite important – after all, you are saving for a rainy day!
BCU Bank provides flexibility across all of its savings accounts.
- No monthly fees are charged – so you're not having your savings chipped away by needless expenses from the bank.
- There's no minimum balance required for your account.
- You can make withdrawals and still earn interest.
You're also able to manage your funds via the BCU Bank App. So there's no need to go into a branch or wrangle complex phone banking processes.
(Specific terms and conditions do apply to each type of account, so make sure you read them on the BCU Bank website first.)
Start saving with BCU today
Sponsored by BCU Bank. Select from a range of savings accounts to earn interest while still having access to your funds when needed. Get started today at BCU Bank's website. T&Cs apply.