MyState Bank Savings Accounts

What savings accounts does MyState Bank offer?

MyState Bank offers the following savings accounts at the time of writing:

Bonus Saver Account

MyState Bank’s Bonus Saver Account pays bonus interest when you deposit $20 or more into your account and make five or more eligible Visa Debit card transactions from your linked account each month.

• Interest rate: Earn up to 1.10% p.a. (total variable interest rate including 1.05% p.a. bonus interest)
  • To be eligible for the bonus interest, you must have a linked MyState bank account and meet eligibility requirements
• Fees: $0 fees for everyday use of the account. No penalties apply for withdrawing from the account. Other charges or fees may apply, please see the terms and conditions on MyState Bank’s website.
• Maximum balance: $250,000 is the limit for the bonus interest to be applied. Where balances exceed $250,000, the base interest will be paid on the amount over the limit.
• Eligibility: You must be at least 13 years of age and have a linked MyState Bank account or open one at the time of application for the account.

Special eSaver Account

MyState Bank’s Special eSaver Account pays a tiered interest rate based on your account balance. No minimum balance or ongoing deposit required.

• Interest rate: Interest rates range from 0.05% p.a. to 0.50% p.a. depending on your account balance.
• Fees: No monthly account keeping or management fees. Some other fees and charges apply for rejected transactions, overdrawn accounts and rejected external account transfers. Please refer to the terms and conditions on MyState Bank’s website for more information about fees and charges.
• Maximum balance (and maximum balance to receive bonus interest if these are different): At the time of writing, the maximum balance is $1 million.
• Eligibility: The Special eSaver Account can only be used for personal use.

Christmas Account

MyState Bank’s Christmas Account is intended to help you save for Christmas. Savings are only available to be withdrawn from the first working day of November to 15 January.

• Interest rate: Calculated on the daily closing balance.
• Fees: No monthly account keeping or management fees. Other charges or fees may apply, please see the terms and conditions on MyState Bank’s website.
• Eligibility: Must have a Glide Account or open one at the time of application.

This content was reviewed as part of our fact-checking process.