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BankSA Incentive Saver Account

The BankSA 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 make no withdrawals.

  • $0 monthly account service fee
  • Bonus interest rate every month - you make at least one deposit and no withdrawals
  • 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 to your account -  in branch, ATMs, eftpos, Internet and Phone Banking
  • All the little extras - including 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

The BankSA Incentive Saver Account is based on a simple approach of rewarding good savings habits, so by making at least one deposit each month and refraining from making any withdrawals, you will be rewarded with a Bonus Interest Rate. This competitive saving rate is complemented with $0 account service fee and free internet and phone transactions. You can also access you cash via any BankSA, St George, Bank of Melbourne or Westpac ATM for a low transaction fee of just 6 cents.

Account Details
Provider BankSA
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.