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Features and benefits
Competitive interest
Reach your savings goal sooner with a competitive interest rate.
$0 monthly account fees1
Means your savings stay yours.
Instant access
Access your savings when you need them from your linked Business+ Account.
Open in minutes
Fast, secure and easy to open in the Business app.

Rates & fees

For further information and details, see all Schedule of Fees, Accounts, and Access Facilities and Terms & Conditions.
Interest Rate Structure
Interest is calculated daily and paid monthly on the 1st of each month on the full balance when $5,000 or more is held in the account.
Interest Rate
$0 - $4999 = 0%
$5,000 + = 2.10%
Other fees may apply.
How to apply
1. Check to see if you’re eligible

Check your eligibility then download the Business app from the Apple App Store or Google Play

2. Create your business profile

Use  the  app to create your business profile.

3. Open a Business+ Saver account

Open your account in minutes and invite others to sign on your account.

Check your business eligibility

To be eligible, here's what you need to tick off:
  • Be aged 18 and over
  • Be an Australian resident
  • Be a sole trader or company owned by real people
  • Have an ABN for your business
  • Have an email address and an Australian mobile number
  • Have one form of ID such as your driver’s licence, passport or Medicare card
Frequently asked questions
What identification do I need to open an account?

You must provide at least one of the following types of identification to open a Business+ Saver:

  • Australian Driver’s Licence
  • Australian Passport
  • Medicare Card

ID tip

If you submitted any one of these identifications and weren’t successful, try another type. Submitting more than one form of ID helps us confirm your identity and increases the chances of a successful verification.

How quickly will my account be opened?

If you’ve successfully completed the identity verification process, it should only take a few minutes to open a Business+ Saver through the app.

How do I check the interest rate on my account?

For your interest rate, go to the 'Manage' section in the Business app for your selected account and press 'Product information'.

Can I deposit cash into my account?

Your Business+ Saver accepts deposits using your BSB and account number and PayID (using your mobile number or email address).

Is 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.

Learn more about the FCS here.

How is a business transaction account different to a savings account?

A transaction account is designed to be used for day-to-day expenses and often comes with a debit card for convenient access to the account.

Savings accounts don’t have a debit card, but should offer a competitive interest rate helping you to achieve your savings goal sooner. Savings accounts can offer bonus interest when certain criteria are met.

Can I earn interest on my business savings account?

Yes, our Business+ Saver offers a competitive interest rate.  Learn more about the account and interest rate here.

Are there any fees associated with a business savings account?

The good news is there are no monthly account keeping fees with your Business+ Saver.

There could be other fees though, so it's best to take a look at the Terms and Conditions for information about the fees and charges relating to your account.

Do I need a transaction account with my business savings account?

Yes, before you open a Business+ Saver, you’ll need to open a Business+ Account, which you can do by downloading the Great Southern Bank Business app from the Apple App Store or Google Play.

Why should I open a business savings account?

Although it isn’t mandatory to open a small business savings account, having one will complement your Business+ Account and brings with it some benefits:

  • Having a savings record helps you get a business loan, overdraft, or credit card
  • Gives you access to money when you need it most
  • Offers a higher interest rate than a transaction account
Can I access my existing Great Southern Bank business products in the Business app?

No. Think of it like our beloved Carlton Football Club men’s and women’s teams. While they’re all part of the same club, they play separately.

It’s the same with your Great Southern Bank products and your Business+ products. They’re all offered by us, but they don’t play together.

Can I get help with the Business app in your branch or call centre?

No. Our Business app is designed to be 100% digital.

For help with anything to do with the Business app, use the in-app Chat. You’ll be helped by one of our team (yep, an actual person).

Download our Business app
The business banking app built for smaller small businesses.
  • 100% app-based banking for busy business owners
  • Open accounts and loans entirely online in minutes
  • In-app support (from real people)
Download the app via QR code
Download the app in the App Store
Get it on Google Play
Download the app in the App Store
Get it on Google Play
You may also be interested in
Business+ Account

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Business+ Unsecured Overdraft

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Business+ Unsecured Loan

The simple way to fund your business's big plans.

Important Information

Great Southern Bank, a business name of Credit Union Australia Ltd ABN 44 087 650 959, AFSL 238317. Conditions, fees and charges apply. Information on Business+ accounts is general information and does not consider your objectives, financial situation or needs. You should consult the Product Disclosure Documents before making a decision to apply for products.

This product is only available for business purposes. Terms, conditions, fees and charges may be applicable.

1 For a full list of fees, please refer to the Schedule of Fees.

>> Rates current as at 28 February 2024 and are subject to change.

Deposits up to $250,000 per account holder are guaranteed by the Federal Government under the Financial Claims Scheme.

Great Southern Bank Business app
Business+ BSB: 834 472