Savings Accounts
Choose from accounts that reward you for saving, give you any time access or offer fixed returns.
Many ways to get you saving
Long or short term
Whether you’re saving for a birthday or a house deposit, we’ve got you covered
Flexible access or lock it away
Accounts designed for easy access to your savings or to lock them out of reach
Keep tabs online
Transfer easily between accounts and use quick balance to check your savings in a flash
Accounts to get saving
Incentive Saver
Focussed saving
Up to 1.80% p.a.
For balances over $250000, this Reward Rate includes a base rate of 0.25% p.a. plus a maximum variable bonus rate of 1.55% p.a. each month you qualify. View all rates and tiers.
$0 monthly service fee
Maxi Saver
Straight forward savings
1.80% p.a.
Introductory 3 month variable rate, which includes a fixed bonus rate of 1.70% p.a. for new Maxi Saver customers.
$0 monthly service fee
Term Deposits
Fixed returns
1.30% p.a
For 12 months on balances between $1,000 and $250,000 with interest paid on maturity. View all rates.
$0 monthly service fee
Looking for a savings account for kids?
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You can now save money while saving penguins. Open an Incentive Saver account at your local branch for your child aged 15 or under and Bank of Melbourne will adopt a penguin on their behalf. Learn more