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Great If:

You want to teach your kids to save

You are under 25 and want to be rewarded for good savings habits with fee free banking

You want to open an account on behalf of your child

Key Features:

You only need $1.00 to open a Life Saver account - Ensure your balance grows each month to earn high interest
No monthly account keeping or transaction fees
Life Saver can only be opened by under 25s but can continue to be used beyond that age.
Life Saver can be linked to an Access Account in the account holder’s name to enjoy fee free banking when the Life Saver balance increases each month
Free online banking with real-time payments via PayID & Osko by BPAYⓇ. Your Life Saver can be linked to an Access Account online so you can transfer money in and out
Open a Life Saver Account It’s just that simple! Open an account

Already a customer banking online with us?

Save time and open an account using your online banking details

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I want to

  • Bank smarter and avoid fees

    Bank fees are right up there with stubbed toes and frostbite as most people’s least favourite things. Luckily, you can minimise their effect and keep more money in your pocket.

  • Set up a budget

    We’re all aware of budgeting, but often we view it from a negative perspective. The reality is anyone can achieve their goals with the right budgeting tools.

  • Teach my kids to save

    The fact is that saving and managing our finances is something that all of us will have to do. We’ve put together a basic plan so that you can plant the seeds of knowledge early.

  • Travel overseas

    Taking a trip should be one of life’s great pleasures, providing you memories that will last forever. We've put together a simple checklist of things to consider when planning your holiday. 

Savings Goal Calculator

Project how much you can accumulate over time from an initial contribution and regular ongoing deposits

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Budget Calculator

Get a better idea of your monthly incomings and outgoings, and what you're left to play with

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Income Tax Calculator

Knowing how much you actually have to play with can make budgeting a breeze!

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Open a Life Saver Account

Looking to open a Life Saver Account with Greater Bank? It's simple and can be done via your method of choice.

Interest Rates

Rates are effective as at 9am Wednesday 14/04/2021

Life Saver Account* Interest Rate
Life Saver Account 1.40 % p.a

Savings Goal Calculator

Start saving now

The Life Saver Account can be linked to a Greater Bank everyday Access Account and if their Life Saver Account balance continues to grow each month, no transaction fees are payable on the Access Account (helping keep your dollars in the bank account).

If your child is able to sign their name consistently and understand the Terms  and Conditions they can open a Life Saver Account in their own right. If they are too young to sign for their account a Benefactor (like a parent, relative or family friend) can operate the account on their behalf.


Open our award-winning Life Saver Account today!

Open an account

Pay and get paid faster with PayID

Want to pay and get paid in real time? Make sure you've set up a PayID on your Greater Bank account.

Use your mobile number or email address instead of having to remember a BSB and account number, and make payments a breeze with Osko by BPAY®.

Get started

Already a customer banking online with us?

Set up a PayID on the account of your choice in Online Banking

Don't currently have online with us?

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Important details:
* This information is general only. You should consider the appropriateness of the information and our products to your circumstances before proceeding. Greater Bank Limited ABN 88 087 651 956. AFSL No 237476. 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 Terms and Conditions.