A savings account with a higher interest rate for anyone under 25 who wants to reach their goals sooner. Like all good things, we’ve kept it simple – ensure your account grows each month to earn interest on your whole balance.
Life Saver | $0.00+ |
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Variable | 1.00% p.a. |
Monthly account-keeping fee | $0 |
Transaction fees | $0 |
The above are a selection of our fees only. Additional Fees and Charges may apply. For further information please view the Life Saver Product Schedule.
Our Life Saver account can be opened by any individual in Australia under the age of 25, with a valid Australian residential address.
Depending on the type of savings account you’ve opened, the way in which you’ll be able to transfer funds out of your account may differ.
Just be aware that by transferring funds out of your savings account, you may be at risk of failure to meet the account conditions in order to earn interest in a given month.
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. 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.
Of course. You can have deposits made directly into any Greater Bank savings account. You can do this in a number of ways:
It is important to note that a deposit can only be made on the maturity date or within the next 10 days for any Term Deposit accounts. Any payments made to a Term Deposit outside this time will be rejected.
Depending on the type of savings account you’ve opened, the way in which you’ll be able to transfer funds out of your account may differ.
Just be aware that by transferring funds out of your savings account, you may be at risk of failure to meet the account conditions in order to earn interest in a given month.
Maybe you’re not alone. Our FAQs answer some of the more common banking questions we get asked.
Our friendly staff are happy to help with all your banking needs. Find a location near you across NSW and South East QLD.
Call us Monday to Friday 8:00am – 6:00pm and Saturdays 8:00am – 1:00pm AEST.
^ Other fees and charges may apply. Refer to the relevant Product Schedule for further information.
This information is general only. You should consider the appropriateness of the information and our products to your circumstances before proceeding.
Life Saver Account must be opened prior to turning 25 years of age. We calculate interest by applying the daily percentage rate to your account balance. No interest applies if the closing balance at the end of the month is not greater than the opening balance at the beginning of the month. Conditions apply. View our Life Saver Product Schedule.
Pay ID™ is a trademark of NPP Australia Limited ABN 68 601 428 737. Osko by BPAY® and BPAY® are registered to BPAY Pty Ltd ABN 69 079 137 518. You should review the relevant payment facility terms and conditions available on our website before deciding whether a service is appropriate for your personal circumstances.