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DIY Super FAQs

DIY Super Saver

A competitive interest online investment account for Self Managed Super Funds.

  • Access and manage your funds via Internet and Phone Banking through your eligible Bank of Melbourne working account 24/7.1
  • Earn competitive interest on every dollar.2
  • Make savings simple by setting up a regular transfer from your eligible working account using scheduled payments within Internet banking.
  • No minimum monthly balance or deposit required, making it easy for you to start saving.
  • No monthly service fee.2
  • Access your funds via Branch if required.2
Apply Now

Competitive variable interest online account

  • New DIY Super Saver customers can earn up to p.a. including a bonus p.a. fixed for the first 4 months3

 

No fees

  • No monthly account service fees.2

 

Easy Access

Invest your Super Cash

  • Ideal investment account for Self Managed Superannuation Funds / DIY Superannuation

Contribute automatically

24/7 access1

Compare

DIY Super Saver – a perfect online cash investment account for your SMSF

Cash in DIY Super Fund / Self Managed Super Fund (SMSF) must be held in an account separate from the trustee’s personal cash accounts.

With DIY Super Saver, your Funds earn a high interest rate with no Super Saver bank fees..3 Plus you get convenient access 24/7 via Internet Banking and Phone Banking.1

DIY Super - How it works

Who can apply for DIY Super Saver?

DIY Super Saver can only be opened by a DIY / Self Managed Super Fund or Trust. To apply, you’ll need:

  • To have an Australian residential address
  • To open the account in a personal superannuation, family or individual trust name
  • Formal trust deeds in the name of the account, detailing the authorised trustees
  • A linked everyday banking account (from Bank of Melbourne or any Australian financial institution) in the same name of the DIY Super Saver Account.

Learn more about DIY Super Saver

Streamline your SMSF reporting with easy access to statements

Paper statements eStatements Yearly interest summary
Posted to you every 6 months Choose eStatements to view, print and save up to 2 years of statements online View and print your Financial year interest summary via Internet Banking

Fees
Monthly account service fee $0
Number of free withdrawals per month N/A
Transaction fees for everyday banking - Where a relevant Free monthly withdrawal allowance applies, these transaction fees are payable per transaction after the allowance has been exceeded.
Internet Banking transactions Free
Phone Banking transactions Free
Bank of Melbourne / St.George / Westpac / BankSA / ATMs (in Australia) N/A
Electronic agency N/A
Staff assisted $2.50
Bank@PostTM N/A
EFTPOS N/A
Cheque N/A
Transaction fees - Free monthly withdrawal allowances do not apply to these fees
Direct Debit N/A
Periodical Payment N/A
Overseas Cash Withdrawal (including overseas ATM withdrawal) N/A
Bank of Melbourne / St.George / BankSA ATM Mini transaction history request N/A
Frequent Statement(per month) $2.00
Foreign Currency conversion 3.0%
Collection item Free
Interest rates
Balance Standard base variable rate Bonus for new DIY Super Saver customers3 Earn up to3
Balances up to $5,000,000.00  p.a.  p.a. for 4 months  p.a
On the portion of the balance over $5,000,000.00  p.a.  p.a. for 4 months  p.a

If you open a new DIY Super Saver account and you have not held a DIY Super Saver account before and you are a personal customer, you'll earn a fixed bonus rate on top of the standard variable DIY Super Saver rate. The standard variable DIY Super Saver rate may be changed at any time but the fixed bonus rate will not change while it applies during the Promotional Rate Period. The Promotional Rate Period is the first 4 months from the date your account is opened.

Call us

13 82 66, Monday to Saturday, and say “New account” when prompted

Apply Now

Are you eligible/What you’ll need

You are eligible for a DIY Super Saver account online if you are a trustee of a Self Managed Super Fund that complies with the SIS legislation and there are no more than two trustees.

Tips

  • If you aren’t an existing Bank of Melbourne customer, you’ll need to confirm your identity
  • Compare with our Investment Cash Account
  • For non-personal customers only. This account is suitable as a cash investment account for Self Managed Super Funds
  • Personal customers can open a Maxi Saver Account.

 

How to apply

The Detail

Conditions and fees apply.

Before making a decision, it’s best to read the terms and conditions.

Please read these documents and keep a copy. You can request a paper copy at a branch.

The advice on our website is prepared without knowing your personal financial circumstances. Before you act on this or any advice, please consider if it’s right for you. If you need help, call 13 22 66.

1. Subject to system availability.
2. DIY Super Saver has no monthly account service fee but other fees and charges apply, including for branch access. To hold a DIY Super Saver you must also hold an eligible Bank of Melbourne working account in the same account name(s) as your DIY Super Saver account. Fees and charges may be payable on your eligible working account.
3. If you open a new DIY Super Saver account and you have not held a DIY Super Saver account before and you are a personal customer, you'll earn a fixed bonus rate on top of the standard variable DIY Super Saver rate. The standard variable DIY Super Saver rate may be changed at any time but the fixed bonus rate will not change while it applies during the Promotional Rate Period. The Promotional Rate Period is the first 4 months from the date your account is opened.