Our available savings accounts have been carefully designed to support a range of savings goals for both short and long-term savers. Enjoy competitive interest rates, zero account keeping fees and lots of features and extras when you choose any of our high interest savings accounts.

A joint savings account works just like any other joint bank account. It is opened in two people’s names and allows two people to pool their funds together. Joint accounts from MyState are also available for everyday banking.

Using a joint savings account can be a great way to build combined wealth faster which may be a good option for people who share a financial goal and for people who want to increase their interest earnings as much as possible, and as quickly as possible. For example, if you’re interested in an interest savings account that rewards you with higher interest rates just for depositing your savings in the first place, then opening a joint savings account can help you and your savings partner to earn more, even faster.

There are, however, some drawbacks to having a joint savings account so carefully consider your options ahead of time to check that this type of account will work for you. A joint savings account gives both account holders the same level of access to the funds that are held within that account. You will need to be very certain that both you and the other account holder is completely comfortable with this before you proceed and open a savings account together.

If you’re saving for a property deposit, or you have a considerable amount of savings already that you’re looking to hold in a secure account for a set period of time, then term deposits might be the best way for you to reach your financial objectives. Term deposits rates are fixed, just like the term of the deposit, giving you a clear indication of what kind of money your deposit will make and exactly when that money will become available to you. Use our online term deposit calculator to compare interest earnings between all of our savings and cash investment options.

Savings account interest rates can vary significantly between account types so it’s highly recommended that you undertake a thorough comparison of your options before you decide on the kind of joint savings account you want to use. Variable rates may also be affected by other terms and conditions on the account.

How to open a joint savings account?

As an existing customer, you will only need your customer bank number to open a new joint savings account. For new customers, we'll need a form of identification such as your Driver's Licence or Passport as well as your tax file number and your contact details. Opening a new account online takes less than 5 minutes. Once you are all set up then you can download the MyState Bank App, an easy to use application made for all smart devices, which you can use to manage all of your money with us.

Can you open a joint savings account without being married?

The type of savings account that you choose is not dependent on the kind of relationship you have with your savings partner so you can open a new joint account with anybody. Both people will have access to the funds within the account at any time.

Open an account online in under 5 minutes

Apply online

You will need an Australian Driver License or Passport and about 5 mins

Receive your email

This will have your Customer Number and a temporary password


Login to the MyState Bank App or Internet Banking

Ready to use

Your VISA Debit Card will arrive shortly, ready to be activated

What are the benefits of having a joint bank account?

Whether you believe it’s a good idea to open a joint savings account with another person will depend entirely on what your savings goals are and how you both feel about sharing them with someone else. As well as the access to the money that you’re both saving.

You can set the terms of your account when you open it including things like whether all account holders have the same level of authority to make changes to the account. You may for example set the account up as two to sign, so that any withdrawals from the account must be authorised by both account holders.

“Using a joint savings account can be a great way to build combined wealth faster.”

What to do when there’s a dispute on a joint account?

MyState can arrange to temporarily block withdrawals from a joint savings account or place a freeze on the account if required until the dispute has been resolved. Disputes over a joint savings account and how the money within it has been managed will need to be resolved amongst the account holders. The money held within your joint savings account is owned by all account holders for however long the account remains open.

Our customer care team are available to answer any questions. You can call us on 138 001 to speak to a real human being about anything we offer, including how to resolve a dispute on your joint account.

Accounts for everyone