Interest rate update (savings accounts) - September 2022.
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As a customer-owned bank, we carefully consider the needs of all our customers to ensure we make a balanced decision for both our loan and deposit customers.
Following a recent review the tables below show some of the rate changes that we will be making to our Savings Account products. These changes are related to the September RBA rate change. Rates for these accounts will change on Tuesday 27 September 2022.
For details of our September rate changes for Home Loan and Term Deposit rate view here to find out more.
Current savings accounts.
From Tuesday 27 September, Beyond Bank’s advertised Savings Accounts Interest Rates will be as follows.
Purple Bonus Saver Account.
|
Tier |
Current Bonus Rate (% p.a.) | New Bonus Rate (% p.a.) | Change (% p.a.) |
| $0 - $200,000 | 2.00 | 2.50 | 0.50 |
| $200,000+ | 0.00 | 0.00 | No Change |
monEsaver Account.
|
Tier |
Current Rate (% p.a.) | New Rate (% p.a.) | Change (% p.a.) |
| $0 - $4,999 | 0.90 | 1.40 | 0.50 |
| $5,000 - $199,999 | 1.20 | 1.70 | 0.50 |
| $200,000+ | 1.40 | 1.90 | 0.50 |
Community Reward Account.
|
Tier |
Current Rate (% p.a.) | New Rate (% p.a.) | Change (% p.a.) |
| $0 - $4,999 | 0.80 | 1.20 | 0.40 |
| $5,000 - $199,999 | 1.10 | 1.50 | 0.40 |
| $200,000+ | 1.30 | 1.70 | 0.40 |
Community Account (& Cash Management Account – Grandfathered).
|
Tier |
Current Rate (% p.a.) | New Rate (% p.a.) | Change (% p.a.) |
| $0 - $4,999 | 0.01 | 0.01 | No change |
| $5,000 - $19,999 | 0.05 | 0.05 | No change |
| $20,000 - $99,999 | 0.25 | 0.50 | 0.25 |
| $100,000+ | 0.50 | 0.75 | 0.25 |
BU Account.
|
Tier |
Current Rate (% p.a.) | New Rate (% p.a.) | Change (% p.a.) |
| $0+ | 1.50 | 2.00 | 0.50 |
Retirement Account (& Everyday 55 Account – Grandfathered).
|
Tier |
Current Rate (% p.a.) | New Rate (% p.a.) | Change (% p.a.) |
| $0 - $4,999 | 0.25 | 0.50 | 0.25 |
| $5,000 - $48,599 | 0.75 | 1.00 | 0.25 |
| $48,600+ | 1.10 | 1.40 | 0.30 |
Grandfathered savings accounts.
These grandfathered accounts rates apply to existing accounts. These accounts are no longer available as a new product.
From Tuesday 27 September, Beyond Bank’s advertised Savings Accounts Interest Rates will be as follows.
Bonus Saver Account.
| Tier | Current Base Rate (% p.a.) | Current Bonus Rate (% p.a.) | Total Rate (% p.a.) | New Base Rate (% p.a.) | New Bonus Rate (% p.a.) | New Total Rate (% p.a.) | Change (% p.a.) |
| $0 - $4,999 | 0.01 | 0.79 | 0.80 | 0.01 | 1.19 | 1.20 | 0.40 |
| $5,000+ | 0.01 | 0.99 | 1.00 | 0.01 | 1.39 | 1.40 | 0.40 |
Double Interest Saver.
| Tier | Current Base Rate (% p.a.) | Current Bonus Rate (% p.a.) | Total Rate (% p.a.) | New Base Rate (% p.a.) | New Bonus Rate (% p.a.) | New Total Rate (% p.a.) | Change (% p.a.) |
| $0 - $4,999 | 0.40 | 0.40 | 0.80 | 0.60 | 0.60 | 1.20 | 0.40 |
| $5,000+ | 0.50 | 0.50 | 1.00 | 0.70 | 0.70 | 1.40 | 0.40 |
Money Market Account.
|
Tier |
Current Rate (% p.a.) | New Rate (% p.a.) | Change (% p.a.) |
| $0 - $49,999 | 0.00 | 0.00 | No change |
| $50,000+ | 0.80 | 1.20 | 0.40 |
Junior Savers Club Account.
|
Tier |
Current Rate (% p.a.) | New Rate (% p.a.) | Change (% p.a.) |
| $0+ | 1.50 | 2.00 | 0.50 |
Home Saver Account.
| Tier | Current Base Rate (% p.a.) | Current Bonus Rate (% p.a.) | Total Rate (% p.a.) | New Base Rate (% p.a.) | New Bonus Rate (% p.a.) | New Total Rate (% p.a.) | Change (% p.a.) |
| $0+ | 0.05 | 1.45 | 1.50 | 0.05 | 1.85 | 1.90 | 0.40 |
Junior Saver Bonus Account.
| Tier | Current Base Rate (% p.a.) | Current Bonus Rate (% p.a.) | Total Rate (% p.a.) | New Base Rate (% p.a.) | New Bonus Rate (% p.a.) | New Total Rate (% p.a.) | Change (% p.a.) |
| $0.00 - $4,999 | 0.75 | 0.75 | 1.50 | 1.00 | 1.00 | 2.00 | 0.50 |
| $5,000 | 0.75 | 0.75 | 1.50 | 1.00 | 1.00 | 2.00 | 0.50 |
Christmas Club Account.
|
Tier |
Current Rate (% p.a.) | New Rate (% p.a.) | Change (% p.a.) |
| $0+ | 1.00 | 1.50 | 0.50 |
We’re here to help
Beyond Bank has more than 275,000 customer-owners. 21,000 have loan accounts and 16,000 hold term deposits. Because our customers own the bank, all monies generated by the organisation are reinvested into the business to provide products and services and maintain the bank’s strong capital position.
We are very mindful of cost-of-living pressures and their impact on people today, and that interest rates can have a significant influence on this. We will always take an approach based on working with our owner-customers in a caring and supportive way.
If you need assistance with your loans, please call 13 25 85, option 2 to speak to our specialist team.
For general tips and resources for your financial wellbeing, please visit beyondbank.com.au/financial-wellbeing.html
