BNK Savings Accounts

BNK is an Australian digital bank. It provides a range of banking products including savings accounts, transaction accounts, home loans, personal loans and car loans. BNK’s banking products are provided through Goldfields Money, a division of BNK that has operated for over 37 years.

What savings accounts does BNK offer?

BNK offers various everyday banking and savings accounts. Some of its accounts include:

  • Cash Management Account: pays a tiered interest rate based on your account balance, calculated daily and credited monthly. Customers must have a minimum of $5,000 to open an account.
  • Retire Style: pays a tiered interest rate based on your account balance, calculated daily and credited monthly. Available for individuals who are over the age of 55 or Self Managed Super Fund customers.

Read BNKs full product disclosure statement (PDS) for terms and conditions.

Canstar does not currently compare BNK savings accounts; however,  you can view the current interest rates of other savings accounts by using Canstar’s comparison tables.

Compare Savings Accounts

Do BNK savings accounts require a linked transaction account?

BNK does not state whether its savings accounts require linked transaction accounts. Contact BNK for details.

If you’re looking to compare transaction accounts, you can use Canstar’s comparison tables to potentially find one that suits your requirements.

Compare Transaction Accounts

Does BNK charge fees on its savings accounts?

Savings accounts can come with several fees, such as monthly account-keeping fees, transaction fees, withdrawal fees and more. At the time of writing, BNK says it charges no everyday fees on its Cash Management and Retire Style accounts. This includes no direct debit, EFT transfer, BPAY, EFTPOS or staff assisted transfer fees. BNK does, however, have charges for cheque books and overseas debit card/ATM withdrawals. Contact BNK for more information on fees and charges.

What does BNK offer in terms of mobile banking for savings accounts?

BNK offers online and mobile banking for its savings accounts through Goldfields Money. Through the Goldfields Money app, you can view your account balance and transfer money between your accounts. The Goldfields Money app is available through the App Store and Google Play.

How do I apply for a BNK savings account?

Before applying for a BNK savings account, consider comparing it against other savings accounts on the market to ensure it is the right one for you.

Compare Savings Accounts

If you choose to open a BNK savings account, you can do so online through the Goldfields Money website. You can also contact the BNK team over the phone.

To apply for a Cash Management Account, you must have a minimum balance of $5,000. To apply for a Retire Style account, BNK says you must be an individual over the age of 55 or an SMSF customer.

Contact BNK for the latest terms and conditions that are applicable when applying for a savings account.

About BNK

BNK Banking Corporation (BNK) is a financial services company with divisions in banking (Goldfields Money) and mortgage broking aggregation (Finsure). The bank rebranded in 2019, with Goldfields Money founded in 1982 as Goldfields Credit Union in Kalgoorlie, Western Australia. BNK is headquartered in Sydney. It is listed on the ASX and is regulated by the Australian Prudential Regulation Authority. Like all Australian banks, deposits made into BNK’s savings accounts are guaranteed up to $250,000 per customer under the Australian Government’s Financial Claims Scheme.

Written by: Tamika Seeto | Last updated: July 13, 2020