Hume Bank Savings Accounts

Hume Bank VIC Customer owned institution

Hume Bank provides savings accounts as well as a range of other banking products such as transaction accounts, home loans, credit cards and insurance products.

What savings accounts does Hume Bank offer?

At the time of writing, Hume Bank offers the following savings accounts:

  • Reward Saver Account – interest is paid on account balances from $1. The account pays bonus interest each month you deposit $10 and make no withdrawals. 
  • iSave Account – interest is paid on balances $5,000 and over. Account pays bonus interest each month you deposit $50 and make no withdrawals. 
  • Cash Management Account – pays a tiered interest rate depending on your account balance. Also includes a Visa Debit Card. 
  • Christmas Club Account – designed to help you save for the Christmas and holiday period. Only allows withdrawals during November to January. 

You can view the current interest rates on some of Hume Bank’s savings accounts in Canstar’s comparison tables.

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Do Hume Bank savings accounts require a linked transaction account?

Hume Bank does not specify if its savings accounts require a linked transaction account. For more information, contact Hume Bank. 

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

Does Hume Bank 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, Hume Bank says its Reward Saver Account and Cash Management Account come with no account keeping fees. It also says its iSaver Account and Christmas Club Account have no monthly access fees. However, fees do apply on certain Hume Bank savings accounts for withdrawals made via cheque or cash withdrawals at a branch.

Read Hume Bank’s Fees and Charges document for further information. 

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

Hume Bank’s mobile app is available for download through the App Store and Google Play. Features of Hume Bank’s app include:

  • Fingerprint login on certain devices
  • Ability to transfer money, pay bills and manage payments
  • Ability to personalise your banking by adding your own photos and images to accounts

How do I apply for a Hume Bank savings account?

Before applying for a Hume Bank savings account, consider comparing it against other savings accounts on the market to ensure it’s the right one for you. 

Compare Savings Accounts

If you choose to open a Hume Bank savings account, you can do so online or at a Hume Bank branch. However, if you are new to Hume Bank you’ll need to go to a branch in order to open an account. 

If you are opening an iSave account online, Hume Bank advises that you will need to:

  • Be at least 18 years old
  • Be an Australian resident for tax purposes
  • Have at least one form of ID
  • Have a valid email address and mobile number 

About Hume Bank 

Hume Bank was founded in 1955 as the Hume Co-operative Building & Investment Society in Albury. Hume Bank says it has been in the Albury-Wodonga region for more than 60 years.

Starting with three employees and 58 customers, today Hume Bank says it operates across Australia, employing 150 staff members and serving over 60,000 customers.

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Written by: Tamika Seeto | Last updated: July 25, 2019