Why Bonus Saver?

Enjoy bonus interest1 when you deposit $20 or more in to your Bonus Saver Account and make 5 or more eligible VISA Debit card transactions from your linked account each month.


Rated 5-Stars by Canstar

For providing best value to active savers.

Mozo Experts Choice Award

Recognised for best ongoing savings rates.

Over 50 years experience

Our local Customer Care team are here to help you. Give them a call on 138 001.

Savings guaranteed

On deposits up to $250,000 per customer by the Australian Government.

How it works

Earn bonus interest1 on your savings with these simple steps.

Always

0.15%p.a.

Base variable interest rate, you get this no matter what.

Make

5

VISA Debit card transactions each month from your linked account.

Deposit

$20

Into your Bonus Saver Account each month.

It's so easy to open an account

You do it all online and it takes about 5 minutes, even less if you're already a customer with us.

MyState Bank App

Any time you need to transfer between your accounts, check your balance or pay someone, you’re always covered – wherever you are.


Simpler

Fingerprint login, balance peak & eStatements are just some of the ways we make banking easier.


Faster

Osko payments let you send and receive money in under 60 seconds.2


Smarter

PayID let's you replace account numbers with your mobile phone number.


 
 

Frequently asked questions

1What will I need when opening a Bonus Saver Account online?

If you are a new MyState Bank customer, you'll need:

  • Your contact details, including a phone number and email address;
  • Two types of ID (Driver's Licence, Passport and Medicare Card are accepted);
  • Your Tax File Number or Exemption Code (this is optional, however, if you don't provide it, we are required by law to deduct withholding tax at the highest marginal tax rate); and

If you are an existing MyState Bank customer, you'll need:

  • Your MyState Bank Customer Number;
  • Your Tax File Number or Exemption Code (this is optional, however, if you don't provide it, we are required by law to deduct withholding tax at the highest marginal tax rate); and

NOTE: When applying for a Bonus Saver Account online MyState Bank may require you to provide identification information in order to comply with regulatory requirements.

To apply for a joint account, both applicants need to complete their details separately.

2What is a linked account?

To open a Bonus Saver Account you need to link it to either a MyState Bank Glide Account or Everyday Account of your choice. If you don’t already have one, you can open this at the same time as your Bonus Saver Account.

Make daily purchases through your linked account and pop all your savings into your Bonus Saver Account - think of them as your living and savings accounts.

3How do I earn bonus interest?

You earn bonus interest1 for the month when you;

  • Deposit $20 or more in to your Bonus Saver Account each month.
  • Make five or more eligible VISA Debit card transactions each month from your linked account.
4How is interest calculated?

Interest is calculated daily and paid monthly. Bonus interest is payable on balances up to $250,000. The base rate of interest will be paid on the portion of any balance exceeding $250,000. For more information please refer to our Terms & Conditions for Deposit Accounts & Electronic Banking.

Calculators

 

At MyState Bank we want to give you as much help as we can in managing your finances. Wherever you are in life, these calculators will assist you in planning for your financial needs.

 

We’re here to help

With over 50 years experience our local, friendly staff can help you find what you're looking for.


1 Interest calculated daily, paid monthly and interest rates subject to change from time to time. Bonus interest applies when eligibility criteria met. Bonus interest is payable only on balances up to $250,000. The base rate of interest will be paid on the portion of any balance exceeding $250,000. Eligible Visa transactions must be settled in the current month (not pending) and include; EFTPOS transactions (including Cash out), online purchases and in store purchases, regular card payments, payWave, Apple Pay, Google Pay, Samsung Pay,Garmin Pay and Fitbit Pay transactions. Current interest rates are available in interest rates for personal deposit accounts.

2 Payments are typically received in under a minute when made between participating financial institutions. PayID is only available for use with the New Payments Platform through participating institutions.

Open account in minutes