Savings Accounts

Maxi Saver Up to 5.35% p.a. for 6 months*

*Eligibility criteria, Terms and Conditions apply

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Savings & Transaction offers

5.35 % P.A.

Total
variable rate

The total introductory rate of 5.35% p.a. for the first 6 months is a combination of an introductory fixed interest rate of 3.65% p.a. and an online bonus rate of 0.45% p.a. on top of the standard variable rate, currently 1.25% p.a.

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$50

cashback on
your new account

Open a new Complete Freedom account with an eligible savings account by 30 September 2026.

Spend $50 or more within 15 days, and we’ll drop $50 straight into your savings.

T&Cs apply.^

The simple way to earn interest on a savings account

Intro Fixed Rate
6 month intro fixed rate for new customers
Freedom
to access your savings
Earn
interest on every dollar when you maintain a positive balance

Fees and charges

  • $0.00 Account-Keeping Fee
  • $0.00  Staff assisted (branch and telephone)

To hold a Maxi Saver account, you must also hold an eligible Bank of Melbourne transaction account in the same name and be registered for Internet and Phone Banking. If you don't already have one, we will set up a Complete Freedom everyday account for you when you open a Maxi Saver account. Fees and charges may apply on the transaction account.

You could get a minimum 10% electricity saving with One Click Switch

Compare and switch your electricity plan through One Click Switch between 18 June 2026 and 31 May 2028. Savings are calculated using your existing electricity usage from the past 12 months via Consumer Data Right (CDR). If your saving is less than 10%, the difference will be paid as a digital gift card, up to $500. Customers 18 years or older. T&Cs apply*. Must already hold a Bank of Melbourne debit card or credit card to be eligible.

Find out more

Calculate what you could earn on your savings

Estimate how much you’ll need to put away each month for the things you want, from your starting balance to how long it may take you to reach your goal.


Go to Savings Calculator

Features

Easy access
Unlimited online access to your savings with a linked transaction account.
Uncapped saving
Interest is calculated on the total balance of your Maxi Saver with no limit on deposit amounts.
Government guarantee
The Financial Claims Scheme guarantees deposits to a cap of $250,000 per account-holder.
Quick Balance
Know exactly how much money you have on hand, at a glance at your smartphone or watch.

In detail

Before making a decision about any of our products or services, please read all the terms and conditions and consider whether the product or service is right for you. Fees and charges apply and may change.
T&Cs and Fees
Interest rates

How to open an account

1.
Read both the terms and conditions, and fees above
2.
Give yourself a few minutes
3.
Have your contact details handy
4.
Have your Tax File Number (TFN) ready
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Not right? Try these?

Term Deposits

Fixed returns

Incentive Saver

Focused savings