Advantage Saver Account
Features & benefits
Earn bonus interest
You’ll be saving smarter, not harder.
$0 monthly account fee
Saving shouldn’t cost you money.
Withdraw money without losing interest
Just be sure to grow your balance by $250 each month.>
Learn more
Learn more
Save as you spend
Set up The Boost on your Advantage Saver Account to give your savings extra oomph.
Rates & Fees
For further information and details, see all Schedule of Fees, Accounts, and Access Facilities and Terms & Conditions.
Flexible savings + bonus interest
Base rate
0.10
%
p.a.
Bonus
4.75
%
p.a.
Total rate
4.85
%
p.a.
Rates
Balance
Base interest
Bonus interest>
Total
Balance under $100,000
0.10%
4.75%
4.85%
On the part of the balance between $100,000 - $750,000
0.10%
4.60%
4.70%
On the part of the balance over $750,000
0.10%
3.90%
4.00%
Important: Interest is paid on the amount of money within each tier. For example, a balance of $150,000 would attract 4.85% for the first $100,000, and 4.70% for the remaining $50,000 (assuming bonus interest criteria> are met).
Open an Advantage Saver Account
Start earning bonus interest on your savings today
Aged 18+?
To be eligible, you’ll need to be 18+.
Increase balance by $250 each month
Simply increase your balance by at least $250 a month, and you’ll earn bonus interest on your savings.>
BONUS INTEREST
Earn up to 4.85% p.a.
Enjoy a combined 0.10% p.a. base rate and bonus 4.75% p.a. on balances up to $100,000.>
SMART TOOLS
Clever ways to save
The Vault
Avoid the temptation to dip into your saving by hiding your account in The Vault.
The Boost
Save every time you spend with The Boost.
Notifications
Set up notifications and always know what's happening with your accounts.
Important Information
The Advantage Saver Account is suitable for customers who want to be rewarded for making regular deposits into their savings each month.
This product may not be right for you, if you:
- Do not want to commit to increasing the net balance by at least $250 each month to earn higher or bonus interest. Our e-Saver Flexi account may be more suitable for you.
You might also be interested in
Everyday Edge Account
A feature-packed everyday account for customers aged 18+
Home Saver
Reach your dream of home ownership sooner with bonus interest on your savings.
FAQS
Frequently asked questions
Who is Great Southern Bank?
Great Southern Bank is the trading name of Credit Union Australia Limited. You may have previously known us as CUA.
For over 75 years, we’ve been helping Australians with their banking and insurance needs. And today, we continue to provide clever products and tools to help customers reach their financial goals sooner.
As a customer-owned bank, we’re owned by you, our customers. So, instead of chasing huge profits for stakeholders, we reinvest profits back into the business for better products and services.
We love helping customers to achieve their financial goals and we can’t wait to help you with yours, whatever they may be. To get started, contact us today.
How do I switch to Great Southern Bank?
Switching to Great Southern Bank is easier than you think and takes less than five minutes! All you need to do is open an account. It’s that simple.
Plus, we can help you switch your salary, direct debits, and regular payments to your brand-new Everyday Edge Account.
What bank accounts are available at Great Southern Bank?
We offer different types of accounts to suit different financial needs – be it everyday money management or savings. To find an account that works best for you, click on the links below.
How can I make withdrawals without losing interest on my Advantage Saver account?
Advantage Saver’s interest is made up of a base interest rate and bonus interest rate. You don't need to meet any eligibility criteria to receive the base interest rate.
To earn bonus interest, you’ll need to make sure your account balance at the end of the month is at least $250 higher than it was at the start of the month. The $250 can’t include interest we’ve paid to you.
Here are some examples to help explain:
Example 1:
| Account Balance | Credit | Debit | Balance | Outcome | |
|---|---|---|---|---|---|
| Opening Balance | $120,000 | ||||
| Deposit | $250 | $120,250 | |||
| Withdrawal | $1,000 | $119,250 | |||
| Closing Balance | $119,250 | No Bonus Interest Paid |
In this example, the balance has decreased by $750 from the opening balance. This means you aren't eligible for bonus interest as you haven’t increased your balance by $250 at the end of the month.
Example 2:
| Account Balance | Credit | Debit | Balance | Outcome | |
|---|---|---|---|---|---|
| Opening Balance | $120,000 | ||||
| Deposit | $250 | $120,250 | |||
| Withdrawal | $120,250 | ||||
| Closing Balance | $120,250 | Bonus Interest Paid |
In this example, the balance at the end of the month has increased by $250 from the opening balance. Congratulations, you’re eligible for bonus interest.
Example 3:
| Account Balance | Credit | Debit | Balance | Outcome | |
|---|---|---|---|---|---|
| Opening Balance | $120,000 | ||||
| Deposit | $250 | $120,250 | |||
| Withdrawal | $1,000 | $119,250 | |||
| Deposit | $1000 | $120,250 | |||
| Closing Balance | $120,250 | Bonus Interest Paid |
In this example, you’ve withdrawn money from your account, but you‘ve deposited enough to increase the closing balance by the minimum $250 needed to earn bonus interest. Congratulations.
Is my money safe in a savings account?
Yes. Money placed in a savings account with a bank, building society or credit union is protected by the Australian Government’s Financial Claims Scheme (FCS).
The scheme protects deposits up to $250,000 per person, per financial institution. In the unlikely event that a financial institution closes you’ll have the peace-of-mind that your money is safe.
Can I do my banking on my mobile phone?
Absolutely. Simply download our mobile banking app to do your banking anywhere from the convenience of your phone.
Can I do my banking online?
Yes. Great Southern Bank Online Banking is easy to use, convenient and secure. As a new customer you'll be set up with online banking as soon as you apply.
If you are already a customer, you can register for online banking in less than a minute and get started straight away.
How secure is mobile banking and online banking?
We take security very seriously and have several features to keep your online and mobile banking safe and secure.
For starters, you’ll always need your customer number and password to log in to digital banking. You can also take advantage of our special features for extra security and peace of mind.
Our key security features include:
- Fingerprint login
- Facial login
- Transaction notifications
- Security questions
- Change your password anytime
While we take proactive steps to fight fraud, it’s important that our customers also take an active role in keeping their accounts secure.
Our online security checklist contains more tips and tricks to keep your account secure. And as always, never share your password with anyone.
Important Information
Great Southern Bank, a business name of Credit Union Australia ABN 44 087 650 959, AFSL 238317. Conditions, fees and charges apply.
This is general information and does not take into account your objectives, financial situation or needs. Consider the appropriateness of the information, including the Terms and Conditions (T&Cs) booklet, before acting on it. The Financial Claims Scheme may apply to this product; refer to the T&Cs for more information.
Deposits up to $250,000 per account holder are guaranteed by the Federal Government under the Financial Claims Scheme.
Rates current as at 07 November 2023 and subject to change.
> Applicants must be over the age of 18. Available to new and existing customers. Only one account per customer. Interest is calculated daily on whole balances and paid monthly. Rate applies on a stepped basis. Refer to the interest rate schedule for current interest rates. Bonus interest is applied on top of the base rate if the balance of the Advantage Saver account increases by $250 by the end of each calendar month (excluding interest payments, withholding tax and fees).
Continue an application
Please enter a valid application ID
Your application ID is in the confirmation email we sent from [email protected]. For help, call us on 133 282.
Continue
New account application
Bonus interest eligibility
Advantage Saver’s interest is made up of a base interest rate and bonus interest rate. You don't need to meet any eligibility criteria to receive the base interest rate.
To earn bonus interest, you’ll need to make sure your account balance at the end of the month is at least $250 higher than it was at the start of the month.> The $250 can’t include interest we’ve paid to you.
Check here for some helpful examples of bonus interest eligibility.