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MySavings Account

MySavings Account

More freedom and value from your savings

A MySavings account offers you the freedom of no minimum balance, no minimum monthly deposit requirements, with no account keeping or online transaction fees. You’ll love the flexibility of accessing your money online, and at the same time achieve a great return.

Lady on phone

We're proud to provide you with real value

Access your savings online

No minimum balance

No minimum monthly deposit

No monthly account keeping fees

1.10 % p.a
Variable rate

Variable rate 1.10% p.a.
No minimum balance
No account keeping fees
No online transaction fees
No minimum monthly deposit

Ready to take the next step?

We're here to discuss your options and get you there

Need information? Call us on 1300 221 479

General information

  • No monthly account keeping fees
  • No transaction fees when making payments using Internet Banking or our mobile app

For a full list of fees and charges, please view our Schedule of Fees and Charges.

Online applications take less than 5 minutes. Provided we’ve been able to verify your identify online, account details will be emailed to you within 15 minutes.

To open an account, you need to:

  • be 14 years or older
  • have an Australian mobile number and a valid email address, and
  • be solely an Australian resident for taxation purposes.

Interest is calculated daily and paid on the last day of each month.


*All depositors are protected by the Government guarantee. For further details, please refer

This information is intended to be general only and has been prepared without taking into account your objectives, financial situation or needs. Because of that, you should consider its appropriateness, having regard to your objectives, financial situation and needs before acting on any such information. You should obtain and consider the relevant Target Market Determination (TMD), General Terms, Product Disclosure Statement (PDS), Fees and Charges Schedule and Interest Rate Schedule before making a decision about whether to acquire or continue to hold the relevant product.

Issued by Challenger Bank Limited (ABN 54 087 651 750, AFSL/Australian Credit Licence 245606) which is an authorised deposit-taking institution (ADI) regulated by the Australian Prudential Regulation Authority. Challenger Bank Limited is a part of the group of companies constituted by Challenger Limited and its subsidiaries (Challenger Group). No other entity in the Challenger group apart from Challenger Bank Limited is an ADI, and that entity's obligations does not represent deposits or other liabilities of Challenger Bank Limited. Challenger Bank Limited does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.