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Reward Saver 5.25% p.a Interest on Balance up to $100,000 (Monthly Balance Growth Required) @ Bendigo Bank

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Reward Saver 5.25% p.a Interest on Balance up to $100,000 (Monthly Balance Growth Required) @ Bendigo Bank
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Scrooge McDeal on 16/06/2023 - 11:54 bendigobank.com.au (324 clicks)
Last edited 16/06/2023 - 14:14 by 1 other user

Bendigo Bank it's offering 5.25% p.a on their Reward Saver Account.

Be rewarded while saving for your future
You'll receive the bonus rate to your Reward Saver account when you hold an eligible transaction account with us and the end of month balance is greater than the start of the month (excluding interest deposits).

1.Bonus rate

Earn bonus interest when your end of month balance is greater than the start of the month (excluding interest deposits).

Bonus rate available on balances up to $100,000.

Bonus rate is applicable to one Reward Saver account per customer.

2.Simple to use

Only requires $1 to open.

Easily access your account information via e-banking or the Bendigo Bank app.

3.Easy on your pocket

Free e-banking transactions

No monthly service fees

How does your Reward Saver account work?

1.You must hold an eligible transaction account (an Everyday Account or Student Account) with the same customer number and name as your Reward Saver account to qualify for the bonus rate.

2.The end of month balance in your Reward Saver account must be greater than the start of the month balance (excluding interest deposits) to receive the bonus rate.

3.The bonus rate is available on balances up to $100,000. You'll receive the base interest rate of 0.30% p.a. if you don't hold an eligible transaction account and/or don't increase your balance for the month (excluding interest deposits). The base rate is also payable on balances over $100,000.

Financial Bank Account Savings Account

Related Stores

Bendigo Bank
Bendigo Bank

closed Comments

  • yht on 16/06/2023 - 11:59

    No spend requirement ?

    • Scrooge McDeal on 16/06/2023 - 12:01

      It looks like no spend requirement.

  • payless69 on 16/06/2023 - 12:06
    +1

    Hmm
    a less hoopy Ing with same baby limit?
    So far so good.

    • Scrooge McDeal on 16/06/2023 - 12:07
      +4

      I thought it's worth posting. Less hoops, nice interest on savings.

      • payless69 on 16/06/2023 - 12:18

        Good for us, but the extra 1.15% above the RBA rate needs to be collected somewhere. Hope it works out for them. Every Nab customer switching to their U does no longer need a physical branch.
        And the NAB stock keeps diving!

        • jv on 16/06/2023 - 12:25
          +1

          Good for us, but the extra 1.15% above the RBA rate needs to be collected somewhere.

          Mortgage holders…

        • angywoo on 20/06/2023 - 18:03

          can you please explain this further?

          • payless69 on 20/06/2023 - 20:13

            @angywoo: Banks have long term plans. Spend money to buy new clients, give them good products to keep them. Most do it. The Ubank app is great, fast paying from all accounts. The NAB's effort to capture upper class clients with Citi is in much need of polishing. Time will tell.

            • angywoo on 21/06/2023 - 14:57

              @payless69: I'm with NAB. Wanting to move banks but still too nervous to change to a bank without a walk in branch because I am worried about somehow losing what I have.

              I have 4.60% with NAB. Whatever the base rate is at the moment and the rest is special rate bonus. They have given the special rate to me for a year.

              I just don't understand what you mean by " Every Nab customer switching to their U does no longer need a physical branch."

              • payless69 on 22/06/2023 - 11:26

                @angywoo: Bought my house with NAB and was forced to get junk insurance. Now Ubank is our prefered day to day payment provider. I would not move away.

    • Gavman on 16/06/2023 - 13:03
      +3

      The end of month balance in your Reward Saver account must be greater than the start of the month balance (excluding interest deposits) to receive the bonus rate. Plus need to go into a branch to open account - pain in the a$$ (who know how easy it is to move money in/out). rather stick to Ubank.

  • wetwork on 16/06/2023 - 12:09

    Come on St George/Melbourne Bank/SA Bank

      • wetwork on 18/06/2023 - 12:35
        +1

        They've moved to 5% on June 20th (finally).

  • FujiFruit on 16/06/2023 - 12:14

    What is the minimum age ?

    • Scrooge McDeal on 16/06/2023 - 12:15
      +2

      30 years old or under?
      Earn up to 5.25% p.a. bonus rate.

      31 years old or over?
      Earn up to 5.25% p.a. bonus rate.

      So no minimum age.

      • clandestino on 16/06/2023 - 12:27

        "between your 30th and 31st birthdays? Sorry - no bonus rate. Earn 0.25%"

        • Scrooge McDeal on 16/06/2023 - 12:37

          Read again or

          • alvian on 16/06/2023 - 14:17
            -2

            @Scrooge McDeal: Age: 30 years & 1 days to 30 years & 364 days:

            30 years old or under? No
            31 years old or over? No

            0.25% for 364 days.

            • Scrooge McDeal on 16/06/2023 - 14:20

              @alvian: I don't think that's what they meant. But if that's the case then that's a miss on their behalf.

  • yht on 16/06/2023 - 12:14

    Any fee for the transaction account ?

  • Remorhaz on 16/06/2023 - 12:17
    +6

    Note: Whilst there are no fees on the Savings account - I believe to get this interest rate you also have to have one of their transaction accounts - and for that to avoid the $6/month fee for that account you have to deposit $2K/month into the transaction account (unless you're a student or concession)

    • Scrooge McDeal on 16/06/2023 - 12:18
      +1

      Correct just checked their everyday account.

    • Igaf on 16/06/2023 - 16:48

      Or have a Bendigo Home Loan

    • FujiFruit on 18/06/2023 - 12:21

      So no fees for a student ?

      • Yola on 18/06/2023 - 12:34
        +1

        Yes and 55 plus and retired.

        • Yola on 21/06/2023 - 17:45

          Opened an account yesterday and found out that the fee-free account for those over 55/retired does not qualify as the transaction account needed to receive the bonus. The one for students does. Guess they want to attract your people.

    • capslock janitor on 27/06/2023 - 00:58

      im concession holder for now gratefully

  • SabreTooth23 on 16/06/2023 - 12:22
    +2

    I believe bendigo will also attract fee if you deposit cash via aust post.

  • franco cozzo on 16/06/2023 - 12:25

    decent rate

  • spock on 16/06/2023 - 12:28
    +1

    Ive just been looking at best rates & found this.5.40% no hoops from what i see .
    https://www.rabobank.com.au/high-interest-savings-account/?u…

    • Scrooge McDeal on 16/06/2023 - 12:29
      +1

      Rabo bank? I wouldn't put my money there. And that's introductory for the first 4 months.

      • souths123 on 16/06/2023 - 13:00

        why wouldn't you put your money in Rabobank? Nothing wrong with them

    • Gavman on 16/06/2023 - 13:04
      +1

      only 4 months.. cuck

    • capslock janitor on 27/06/2023 - 01:00

      refer - https://docs.google.com/spreadsheets/d/145iM6uuFS9m-Rul65--e… there's at least 5 HISA's better than rabo

      edit - oh i see you said no hoops… but honeymoon ehhh, idea to schedule cxfer out after 4mths if ya want

  • souths123 on 16/06/2023 - 12:32
    +6

    seems you have to go to a branch to open these two accounts……can't do online unless a customer with them already….bit of a pain…nearest branch is 20km away

    • FujiFruit on 16/06/2023 - 12:47

      Yes just rang them , their hours are short hours like school hours . I have to take kids in holidays then to open bank, have to go in.

      • souths123 on 16/06/2023 - 12:54
        +1

        for the small extra it gives me and maybe they won't have a great rate next month with others, possibly, leap frogging over them, not worth my time and petrol to go there and back

    • spock on 16/06/2023 - 12:52
      +1

      I just checked nearest to me is 100km away .

    • Gavman on 16/06/2023 - 13:07

      deal killer

    • Bargain Fighter on 16/06/2023 - 14:01
      +1

      Unbelievable that they still require to visit a branch to open an account while most (if not all other) banks can easily open an account online within minutes.

      • artkingjw on 20/06/2023 - 15:35

        what a shame. I called them and they said that they 'removed the ability to open accounts online' due to 'scams'

        • Yola on 20/06/2023 - 17:55

          They told me the same thing.

          • Iluvfreebies-freeDel on 20/06/2023 - 17:57
            +1

            @Yola: Well in that case, I will only make payments in cash and throw away all my cards

    • capslock janitor on 27/06/2023 - 01:05

      i have 2 branches within 5km, not too shabby ;p

  • spock on 16/06/2023 - 13:33

    Still looking around found this deal & no hoops .
    https://www.macquarie.com.au/everyday-banking/campaign/savin…

    • Scrooge McDeal on 16/06/2023 - 13:34
      +3

      That's a welcome rate for 4 months.

  • yht on 16/06/2023 - 14:10
    -1

    Not sure if an extra up to $250/year will be worthed comparing to Ubank 5%. That is when you deposit 100k

  • Geekomatic on 17/06/2023 - 22:40
    -2

    Deceptive to the max. Bendigo is deliberately misleading by omitting the $6 p/m fee on the everyday acct, which is required, but not mentioned.

    • Igaf on 18/06/2023 - 11:23

      Already discussed. https://www.ozbargain.com.au/comment/13900095/redir
      I agree they should be more upfront about the associated monthly TA fee.

      Anyone entering into any financial agreement, including opening FI accounts of any type should read the terms and conditions.

  • izkai67 on 19/06/2023 - 18:46
    -1

    don't even think opening account with them, any problem with account, you'll be asked to come to branch, no time for this and interest rate is not the best anyway.

  • red sed on 21/06/2023 - 03:06

    HOW SICK ARE THESE PIGS? ON ONE HAND THEY ARE CLOSING ALL THEIR BRANCHES YET THEY WANT YOU TO GO TO A BRANCH TO PROVE UR IDENTITY! FUQ EM ALL I SAY THE CORRUPT SWINES! GRRRRRR!

  • capslock janitor on 27/06/2023 - 00:52

    potential new contender

    at this rate i might have buckets with 7 different banks
    haha but not enough funds

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