Why open a Hello Saver account?
Say Hello to savings the way it should be:
Extras that matter
Access your money
Move funds in and out whenever you like and keep earning great interest, because life doesn’t always stick to a plan.
Pay straight from savings
Set up BPAY®, Direct Debit, PayID or automatic transfers straight from your account. One setup, zero hassles.
Government Guarantee
Balances up to $250,000 are protected under the Australian Government Guarantee - so your money stays in safe hands.3
Aussie, Aussie, Aussie
We’re Australian-owned with 65 years of local history, and our call centre is based right here in Australia.
Interest at a glance
Save more with $0 everyday fees
We don't charge you for everyday use of your Hello Saver account
Other fees and charges may apply. For more information about the Hello Saver account please see terms and conditions, financial services guide, interest rates.
Learn more about your Hello Saver account
Hello Saver is a simple, no-fuss savings account that makes earning interest easy. You don’t need to make a minimum monthly deposit, grow your balance, or keep a transaction account. Just a straightforward way to earn interest, paid into your account every month. Open one on your own or share it with someone else, whatever suits you best.
Yes. Hello Saver makes life easier by letting you automate payments straight from your account, so you can set and forget while focusing on what really matters, all while earning a great interest rate. You can pay bills with BPAY®, set up direct debits, and make instant payments with OSKO, including PayID and PayTo.
Nope, no requirements at all.
There are no deposit or eligibility criteria to earn interest. If you have funds in your account, you’ll earn interest, simple as that.
You are eligible for the welcome variable interest rate (welcome rate) if you are a new customer with us and have never held any previous relationship with us. This includes being an account owner (single or joint), signatory, power of attorney or trustee. If you have ever held a profile with us, you are not eligible for the welcome rate. The welcome rate applies only to the first Hello Saver account opened under your profile.
For joint accounts all individuals associated with the account must be new customers with no prior profile. If any one of the joint account holders has previously held a profile with us, the joint account will not be eligible for the welcome rate.
Example: If Customer A has never had a profile with us, they would be eligible for the welcome rate. However, if Customer A opens a joint account with Customer B who has an existing profile, the joint account will not qualify for the welcome rate. To receive the welcome rate, Customer A could first open a single Hello Saver account, which would make them eligible for the welcome rate. They can then choose to open a separate account with Customer B which will earn the ongoing variable interest rate.
The welcome rate starts on the day your Hello Saver account is opened and applies for the first 4 months.
The welcome variable interest rate will apply for four months from the date the account was opened.
Example: If your account was opened on 9 September the welcome rate is paid up to and including 8 January.
At the end of the welcome period, the ongoing variable interest rate applicable to the portion of your balance will apply. You can view our current interest rates here.
Interest rates are annual percentage rates, calculated daily and paid monthly.
Interest is calculated in tiers, meaning different portions of your balance may earn different interest rates.
Example:
If you opened an account with $160,000 as a new customer:
- The first $100,000 earns the welcome rate for the first 4 months, then reverts to the ongoing variable interest rate for balances $0-$100,000
- The remaining $60,000 earns the ongoing variable interest rate for balances of $100,000,01 and over
If you are not a new customer to MyState Bank you will earn ongoing variable interest rate(s).
Hello Saver is a simple savings account with no requirements to earn interest. If you have a higher balance, you could check out our Bonus Saver account.
