Interest Rate Updates (savings accounts) - February 2023
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- Corporate announcements
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. Rates for these accounts will change on Friday 24 February 2023.
Current Savings Accounts.
From Friday 24 February 2023, Beyond Bank’s advertised Savings Accounts Interest Rates will be as follows.
monEsaver
|
Tier |
Current Rate (% p.a.) |
New Rate (% p.a.) |
Change (% p.a.) |
|
$0 - $4,999 |
1.95 |
2.05 |
0.10 |
|
$5,000 - $199,999 |
2.25 |
2.35 |
0.10 |
|
$200,000 + |
2.50 |
2.60 |
0.10 |
Community Reward Account
|
Tier |
Current Rate (% p.a.) |
New Rate (% p.a.) |
Change (% p.a.) |
|
$0 - $4,999 |
1.75 |
1.85 |
0.10 |
|
$5,000 - $199,999 |
2.05 |
2.15 |
0.10 |
|
$200,000 + |
2.30 |
2.40 |
0.10 |
Purple Bonus Saver
|
Tier |
Current Total Rate (% p.a.)* |
New Total Rate (% p.a.)* |
Change (% p.a.) |
|
$0 - $199,999 |
3.40 |
3.70 | 0.30 |
|
$200,000+ |
0.00 | 0.01 | 0.01 |
BU Account
|
Tier |
Current Rate (% p.a.) |
New Rate (% p.a.) |
Change (% p.a.) |
|
$0 + |
2.45 |
2.70 |
0.25 |
Grandfathered Savings Accounts.
From Friday 24 February 2023, Beyond Bank’s advertised Savings Accounts Interest Rates will be as follows.
These grandfathered account rates apply to existing accounts. These accounts are no longer available as a new product.
Junior Saver Account
|
Tier |
Current Rate (% p.a.) |
New Rate (% p.a.) |
Change (% p.a.) |
|
$0 + |
2.45 |
2.70 |
0.25 |
Bonus Saver Account
|
Tier |
Current Total Rate (% p.a.)* |
New Total Rate (% p.a.)* |
Change (% p.a.) |
|
$0 - $4,999 |
1.70 |
1.80 |
0.10 |
|
$5,000 + |
1.90 |
2.00 |
0.10 |
Double Interest Saver Account
|
Tier |
Current Total Rate (% p.a.)* |
New Total Rate (% p.a.)* |
Change (% p.a.) |
|
$0 - $4,999 |
1.70 |
1.80 |
0.10 |
|
$5,000 + |
1.90 |
2.00 |
0.10 |
Community Account and Cash Management Account
|
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 |
0.25 |
0.25 |
No Change |
|
$20,000 - $99,999 |
0.75 |
0.75 |
No Change |
|
$100,000+ |
1.00 |
1.00 |
No Change |
Retirement Account and Everyday 55 Account
|
Tier |
Current Rate (% p.a.) |
New Rate (% p.a.) |
Change (% p.a.) |
|
$0 - $4,999 |
0.80 |
0.90 |
0.10 |
|
$5,000 - $48,599 |
1.20 |
1.30 |
0.10 |
|
$48,600 + |
1.75 |
1.75 |
No Change |
Money Market Account
|
Current Rate (% p.a.) |
New Rate (% p.a.) |
Change (% p.a.) |
|
$0 - $49,999 |
0.00 |
0.00 |
No Change |
|
$50,000 + |
1.55 |
1.65 |
0.10 |
Home Saver Account
|
Tier |
Current Total Rate (% p.a.)* |
New Total Rate (% p.a.)* |
Change (% p.a.) |
|
All balances |
2.25 |
2.25 |
No Change |
Junior Saver Bonus Account
|
Tier |
Current Total Rate (% p.a.)* |
New Total Rate (% p.a.)* |
Change (% p.a.) |
|
$0 - $4,999 |
2.45 |
2.70 |
0.25 |
|
$5,000 + |
2.45 |
2.70 |
0.25 |
Christmas Club Account
|
Tier |
Current Rate (% p.a.) |
New Rate (% p.a.) |
Change (% p.a.) |
|
All Balances |
2.00 |
2.20 |
0.20 |
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
Also in Corporate announcements
*Rate is subject to bonus criteria being met. Where criteria are not met, base rate on the account type would be applicable and can be found on our website.
