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Featured rate

Term Deposits

Interest rate 4.75 % p.a.
6 months - $5,000 and over - Interest on maturity

Saving on your terms. Choose a duration that suits you and lock a portion of your savings away to earn a higher rate of interest. Great if you’re saving for that long term goal like a new home, holiday, a car, helping out your kids or planning for retirement.

Flexible terms to suit your needs. From one month to five years, with the option to have interest paid monthly, six-monthly or at maturity (subject to the term chosen).
No monthly fee or monthly account-keeping fees.^
Deposits up to $250,000 per account holder per authorised deposit-taking institution (ADI)~ are guaranteed under the Australian Government’s Financial Claims Scheme.
View Term Deposits

Bonus Saver

Bonus interest 4.00 % p.a.
Calculated daily, paid monthly

Bonus Saver rewards you for your good saving habits. Just make at least one deposit in a calendar month, and no withdrawals to be rewarded with bonus interest. Too easy.

Earn bonus interest, with interest calculated daily, paid monthly.
No monthly account-keeping fees or transaction fees.^
Learn more

Life Saver

Interest rate 4.75 % p.a.
Calculated daily, paid monthly

Fair-go banking for those under 25. Our Life Saver is the account that grows with you, rewarding you with a competitive interest rate when you make at least one deposit per month. By opening a Life Saver under the age of 25, you can continue to use it for life.

Simply ensure your balance grows each month to earn higher interest.
Can be opened by those under 25, or on behalf of those under 18 – a great way to teach kids how to save.
While you are under 25, can be linked to a fee-free everyday account as long as you continue to grow your savings balance.
View Life Saver

Cash Management Account

Interest rate 0.01 % p.a.
$20,000 - $199,999.99 Calculated daily, paid quarterly

For those that like to keep their saving simple, but still want the potential for a return on their balance. Our Cash Management allows you make deposits and withdrawals at any time without penalising your interest rate.

The higher your balance, the more interest could earn.
Interest calculated on whole balance daily and paid quarterly.
No monthly account-keeping fees.^
View Cash Management

     

Compare our Savings Accounts

Compare 4 products
Bonus Saver
Bonus Saver rewards you for your good saving habits. Just make at least one deposit in a calendar month, and no withdrawals to be rewarded with bonus interest. Too easy.
Featured rate
Term Deposits
Saving on your terms. Choose a duration that suits you and lock a portion of your savings away to earn a higher rate of interest. Great if you’re saving for that long term goal like a new home, holiday, a car, helping out your kids or planning for retirement.
Life Saver
Fair-go banking for those under 25. Our Life Saver is the account that grows with you, rewarding you with a competitive interest rate when you make at least one deposit per month. By opening a Life Saver under the age of 25, you can continue to use it for life.
Cash Management Account
For those that like to keep their saving simple, but still want the potential for a return on their balance. Our Cash Management allows you make deposits and withdrawals at any time without penalising your interest rate.
Bonus interest 4.00 % p.a.
Calculated daily, paid monthly
Interest rate 4.75 % p.a.
6 months - $5,000 and over - Interest on maturity
Interest rate 4.75 % p.a.
Calculated daily, paid monthly
Interest rate 0.01 % p.a.
$20,000 - $199,999.99 Calculated daily, paid quarterly
Key Features
Can be used for general or targeted savings.
Make at least one deposit and no withdrawals in a month and you earn interest on the entire balance.
Variable interest rate.
Interest calculated daily, paid monthly.
Key Features
Investing money at a good rate of interest which is guaranteed not to change.
Invest a fixed amount of money, for a fixed number of days, at a fixed interest rate.
Fixed interest rate.
Interest calculated daily and paid either monthly, 6-monthly, or at maturity (subject to the term chosen).
Key Features
Available to individuals under 25 yrs of age, but can be retained for life.
Ensure your balance grows each month to earn a higher interest.
Variable interest rate.
Interest calculated daily, paid monthly.
Key Features
Parking funds which remain available 24/7.
An interest-bearing account intended for parking larger amounts of money for any period of time.
Variable interest rate.
Interest calculated daily, paid quarterly.
Can be linked to an Everyday Account
Joint account available
Monthly fees^
Transaction fees^
Can be linked to an Everyday Account
Joint account available
Monthly fees^
Transaction fees^
Can be linked to an Everyday Account
Joint account available
Monthly fees^
Transaction fees^
Can be linked to an Everyday Account
Joint account available
Monthly fees^
Transaction fees^
Only apply after Fee-Free allowance and Rebates are exhausted in any month.
Learn more View Term Deposits View Life Saver View Cash Management

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Got a question about our Savings Accounts?

You’re able to view the current interest rates for Greater Bank Savings Accounts by following the links below.

  • For Bonus Saver, Life Saver and Cash Management Account interest rates – click here.
  • For Term Deposit interest rates – click here.

You can view the full range of fees and charges applying to our Bonus Saver, Life Saver, Term Deposits, Term Deposits (monthly income) and Cash Management Accounts in the relevant Product Schedule PDFs on our Disclosure Documents page below.

View Disclosure Documents

While the amount that you choose to save is up to you, a good guide is to get to know how your chosen account works, and plan your savings activity around making sure you meet the periodical account requirements in order to earn interest. For example, our Bonus Saver rewards you with interest when you make at least one deposit and no withdrawals in a calendar month.

Another good way to know how much you need to save is to work towards a savings goal. If you’re saving for something big, you’re more likely to be motivated to stick to a savings plan. Luckily, you’re able to plot and track your savings goal using our handy Savings Goal Calculator – get started now!

And if you simply want to know how much money out of your pay packet you’ll have leftover for saving, you’re able to track this using our Budget Calculator – try it now to see where you stand.

Opening an account with us is easy and can be done in one of three ways.

If you already bank with us:

  1. Log into our app or online banking (Deep link Button)

  2. Select the account type you’d like to open via the Products and Offers section and double-check all your personal details are correct

  3. That’s it. Your account is ready to use! Too easy.

If you don’t bank with us yet:

  1. Become a Greater Bank customer in minutes by completing one of our Savings Account online forms and validating your identity

  2. We’ll send you an email and SMS with temporary access details to online banking. Simply log in and complete your account opening within the app or online banking

  3. That’s it. Your account is ready to use! Don’t forget to download our app so you can manage your money anywhere, anytime.

T&Cs, fees, charges and eligibility criteria apply.

Anyone is able to open a Life Saver youth savings account on behalf of a child or grandchild. Right now, this process can only be completed in your nearest branch.

If you intend to act as a signatory on the account for the child, we’ll need you to bring along some forms of identification for yourself, such as your driver’s licence, as well as identification for the child. We will need physical copies of your proof of identification - we are not currently able to accept digital versions of your identification.

If the child is also going to be signing on the account, they will need to come along to the branch with you and be able to sign to accept the Terms and Conditions.

If you don’t intend to act as a signatory, we’ll just need you to identification for the child you intend to open an account for, such as their birth certificate or passport. The child will need to be with you to sign and get the account up and running.

If you don’t have a drivers licence or the child is unable to locate their birth certificate, we still may be able to help. Check out our FAQs for more identification options.

If you’re still unsure or would like further clarification before opening an account on behalf of a child, you can give us a call on 13 13 86.

The way interest is paid on your Greater Bank savings account depends on the type of account you choose.

To find out how interest is paid on your account, please take the time to review the relevant Product Schedule, available via the link below:

View our Product Schedules

Checking your balance is easy and convenient for Greater Bank savings accounts, and can be done in a number of ways:

  • If you’re using our mobile app, you can set your savings account up so that it’s one of the balances displayed using Quick Balance. By swiping right on our app login screen, you’ll be able to see your balance at a glance.
  • If you’re registered for and using online banking, you can login at any time and view your current account balance on the accounts home screen.
  • During business hours, you’re able to ask for your account balance in any Greater Bank branch, or by giving us a call on 13 13 86.
More FAQs More FAQs

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Frequently asked questions

Drop into a branch

Our friendly staff are happy to help with all your banking needs. Find a location near you across NSW and South East QLD.

Find a branch

Get in touch

Call us Monday to Friday 8:00am – 6:00pm and Saturdays 8:00am – 1:00pm AEST.

Call 13 13 86

^ Other fees and charges may apply. Refer to the relevant Product Schedule for further information.

~ Greater Bank and Newcastle Permanent are both parts of Newcastle Greater Mutual Group Ltd, a single ADI. Therefore, a single $250,000 limit will apply to the aggregate balance of any eligible accounts held with Greater Bank and Newcastle Permanent.

Any advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the product is suitable for you and your personal circumstances.

Greater Bank, part of Newcastle Greater Mutual Group Ltd ACN 087 651 992, Australian Financial Services Licence/Australian credit licence 238273 

Before considering one of our products, you should view our full range of Term Deposit Interest Rates and Savings Account Interest Rates, as well as the Product Schedules for our Bonus Saver, Term Deposits, Term Deposits (Monthly Interest), Life Saver and Cash Management Account.