Savings Account Comparison
| Online Saver | Step Saver | Prize Draw Saver | Term deposit | |
|---|---|---|---|---|
| Great for | Online Saver Simple, everyday saving with full flexibility | Step Saver Building strong saving habits with rewards | Prize Draw Saver Flexible saving with a chance to win | Term deposit Locking in an investment with a predictable return |
| Access to your money | Online Saver Unlimited access anytime | Step Saver One withdrawal per month to keep bonus interest | Prize Draw Saver Unlimited access anytime* | Term deposit Locked in for your chosen term (early withdrawal fee may apply) |
| Interest rate | Online Saver Variable | Step Saver Variable, with the chance to earn bonus interest | Prize Draw Saver Variable | Term deposit Fixed — locked in from day one |
| How interest is paid | Online Saver Monthly | Step Saver Monthly (when bonus conditions are met) | Prize Draw Saver Annually on 31 March each year | Term deposit Monthly or quarterly compounding at the end of the term |
| Extras / benefits | Online Saver Easy to manage via our mobile app and internet banking | Step Saver Earn bonus interest when your balance grows^ and you make no more than one withdrawal in the month. | Prize Draw Saver Eligible customers go into a prize draw each month | Term deposit
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| Who it suits most | Online Saver Savers who want simple, flexible saving | Step Saver Savers who enjoy being rewarded for consistent saving | Prize Draw Saver Savers who want simple, flexible saving with the chance to win a prize. | Term deposit Savers wanting predictable growth |
*Withdrawing funds from this account may mean you are not eligible for the monthly prize draw. See the full terms and conditions here.
^The bonus rate of 1.45% p.a. is paid every month if the account balance, exclusive of interest, is higher at the month end (or on the date the account is closed) than the balance at the start of the month (or on the date the account is opened if the account has been open for less than one month) and no more than one withdrawal is made in the month. If you make one withdrawal within a month, you still need to ensure your balance at the end of the month has grown (excluding interest paid) to be eligible for bonus interest. If you make more than one withdrawal in a month, you'll earn the standard interest rate.A month in this context runs from 8pm on the last day of a calendar month to 7.59pm on the last day of the next month.