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Bank of Melbourne Incentive Saver Account

The Bank of Melbourne Incentive Saver Account is designed to encourage the habit of saving - with a bonus rate of interest every month you make at least one deposit and no withdrawals.

  • $0 monthly account service fee
  • Bonus interest rate  every month you make at least one deposit and no withdrawals
  • All the benefits of a competitive interest savings account without maintaining a minimum monthly balance
  • Free automatic Direct Credits (like automatic transfers from another account every month), so you save faster
  • Easy access in branch, ATMs, eftpos, Internet and Phone Banking
  • All the little extras, like eStatements, mini transaction history at ATMs, optional SMS and Email Alerts
  • Available for personal customers only. Not available for businesses or self managed superannuation funds
Account Details
Provider Bank of Melbourne
Product Details Earn bonus interest every month you make at least one deposit and no withdrawals No account service fees No minimum monthly balance required.
Max. Variable Rate 2.30% p.a.
Standard Variable Rate 1.10% p.a.
Bonus Variable Rate 1.20% p.a.
Bonus Rate Conditions Make at least one deposit and no withdrawals each month
Account Features
Min. Opening Deposit $1.00
Internet Banking Yes
Phone Banking Yes
Joint Application No
Min. Age to Apply 14
Covered by Govt Guarantee Yes (Up to $250,000 per person, per institution)
ATM Access Yes
EFTPOS Facility Yes
Bpay Yes
Cheque Facility No
Branch Access Yes, $2.50 per transaction
Fees
Monthly Account Fee $0
Monthly Deposit to waive Account Fee $0
Phone Transaction Fee $0
Internet Transaction Fee $0
ATM Withdrawal Fee $0.06 at BankSA / Bank of Melbourne / Westpac / St.George ATMs in Australia

What happens when I click "Go to site"?

  • 1

    Clicking Go to site will direct you to the providers web site

  • 2

    Complete the online application on the providers web site

  • 3

    Once approved the provider will issue your new product, delivery times will vary by provider.