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Online Saver Account

Earn more and reach your savings goals sooner

For members

Aged 13+

High interest rate

Up to 0.45%p.a.

Monthly fee

$0

Earn high interest and reach your savings goals sooner with an Online Saver Account from People’s Choice Credit Union.

Your money is available to access online when you need it, and if you make no withdrawals during a month you will be rewarded with bonus interest.

To work out how much you can save and how long it will take you, visit our savings calculator.

  • Easy access to your account 24/7 with the People’s Choice Smartphone and iPhone App, Internet Banking and Phone Banking
  • Competitive interest rates
  • Bonus interest is paid when no withdrawals are made during a month
  • Unlimited free BPAY® payments* and Direct Debits can be made from the account. Please note: any withdrawal from the account will result in the loss of all bonus interest for that month.

You can open your new Online Saver Account online, over the phone by calling 13 11 82 or by visiting your nearest branch.

Savings Accounts (Credit Interest)

Product Name Tier Rate Rate + Bonus
Expenses Account > $0 n/a n/a
Online Saver1 $0 - $4,999 0.05% p.a. 0.45% p.a.
Online Saver1 > $5,000 0.05% p.a. 0.45% p.a.
Bonus Saver2 > $0 0.01% p.a. 0.45% p.a.
Young Saver3 > $0 0.10% p.a. 1.10% p.a.
Christmas Saver4 > $0 0.25% p.a. n/a

Most popular questions...

  • How safe is my deposit with People’s Choice Credit Union?

    People’s Choice Credit Union is regulated in the same way as all other Australian Financial Institutions (banks, credit unions and building societies). It is required to meet exceptionally high standards and rules set by the Australian Prudential Regulation Authority (APRA). These regulations and standards have made Australia’s banking system one of the strongest in the world. You can feel confident your money with People’s Choice Credit Union is well protected.

    Additionally, any deposit with People’s Choice Credit Union is protected by the Financial Claims Scheme.

  • How is interest calculated on my Savings and Transaction Accounts?

    On interest bearing savings and transaction accounts we calculate interest on the closing daily credit balance of your account from the last day of the previous month to the second to last day of the month for which interest is being credited. If your savings or transaction account has an interest frequency other than monthly, interest is on the closing daily credit balance of your account from the last day of the month interest was previously credited to the second to last day of the month for which new interest is being credited.

  • How does the bonus interest work on my account?

    On our savings accounts that pay bonus interest, bonus interest will be paid dependent on the product that you hold.
     

    • Online Saver, Dream Saver & Dream Saver Plus bonus interest is paid where no withdrawals are made during the month.
       
    • Premium Saver bonus interest is paid where at least $1 is deposited into the account and there are no withdrawals in the month.
       
    • Bonus Saver bonus interest is paid when at least $50 is deposited into the account and there are no withdrawals in the month.
       
    • Young Saver bonus interest is paid when at least $5 is deposited into the account and there are no withdrawals in the month.
       

    Deposits made on the last day of the month must be made by 5.00pm Central Standard time, whether or not it is a business day, to qualify for bonus interest in that month. For details of base and bonus rates on the Online Saver, Bonus Saver and Young Saver accounts please click here.

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Product Summary

Account Purpose

Interest Rate

Bonus Interest Criteria

Interest Frequency

Minimum Opening Deposit

Access to Account

Funds At Call / Term

Unlimited Free Access

Access with Fee

 

Online Saver Account

Earn more and reach your savings goals sooner

Account Purpose

An online savings account that offers bonus interest when you make no withdrawals during the month, helping you reach your savings goal sooner.

Interest Rate

Up to 0.45% p.a.1

Bonus Interest Criteria

If no withdrawals in calendar month

Interest Frequency

Monthly

Minimum Opening Deposit

$0

Access to Account

Online Access Only

Funds At Call / Term

At Call

Unlimited Free Access

BPAY payments, Direct Debits, Internet and Phone Banking

Access with Fee

N/A

Apply

Bonus Saver Account

Reach your savings goals sooner

Account Purpose

A savings account that incentivises you to save by offering competitive bonus interest rates if you make a minimum $50 deposit in the month, as well as making no withdrawals.

Interest Rate

Up to 0.45% p.a.2

Bonus Interest Criteria
Deposit $50 and no withdrawals within calendar month2
Interest Frequency

Monthly

Minimum Opening Deposit

$0

Access to Account

Branch and Online

Funds At Call / Term

At Call

Unlimited Free Access

BPAY payments, Direct Debits, Internet and Phone Banking

Access with Fee

Direct Debits, Branch and Agency withdrawals and transfers

Apply

Details

Remove

Young Saver Account

Learn how to save from a young age and get rewarded with bonus interest

Account Purpose

A savings account designed to teach children the value of saving from a young age by rewarding them with a higher rate of interest when a minimum of $5 is deposited in the month and no withdrawals are made.   

Interest Rate

Up to 1.1% p.a.3

Bonus Interest Criteria

Deposit $5 and no withdrawals within calendar month

Interest Frequency

Monthly

Minimum Opening Deposit

$0

Access to Account

Branch and Online

Funds At Call / Term

At Call

Unlimited Free Access

BPAY payments, Direct Debits, Internet and Phone Banking

Access with Fee

Direct Debits, Branch and Agency withdrawals and transfers

Apply

Details

Remove

Personal Term Investments

A secure way to invest your money 

Account Purpose

A Personal Term Investment is a safe and secure way to invest your money and earn a great interest rate on your savings. Designed for members wanting to make the most of their savings by locking their funds away for a fixed term.

Interest Rate

Up to 0.75% p.a.

Bonus Interest Criteria

Interest Frequency

At maturity, or annually for terms greater than 1 year

Minimum Opening Deposit

$5,000

Access to Account

N/A

Funds At Call / Term
Withdrawal at maturity.
Terms 2 months to 5 years
Unlimited Free Access

N/A

Access with Fee

N/A

Apply

Details

Remove

Christmas Savings Account

Give yourself the gift of a worry-free Christmas 

Account Purpose

A savings account designed to take the financial stress out of your annual Christmas celebrations by restricting your access to withdraw funds outside of 1 November to 31 January.

Interest Rate

0.25% p.a.4

Bonus Interest Criteria

Interest Frequency

Annually

Minimum Opening Deposit

$0

Access to Account

Branch and Online

Funds At Call / Term

At Call During Access Period

Unlimited Free Access

During Access Period: BPAY payments, Internet and Phone Banking

Access with Fee
During Access Period: Branch and Agency withdrawals, Direct Debits.
Fee applies to all withdrawals outside of access period.

Apply

Details

Remove

Expenses Account

Our Expenses Account helps you budget for bills so you never miss a payment again

Account Purpose

An account designed for bill paying. Keep your expenses separate from your day to day spending, so you never miss a bill payment. 

Interest Rate

Nil

Bonus Interest Criteria

N/A

Interest Frequency

Monthly

Minimum Opening Deposit

$0

Access to Account

Branch and Online

Funds At Call / Term

At Call

Unlimited Free Access

Branch and Agency deposits and transfers, BPAY payments, Direct Debits, member cheque withdrawals, Internet and Phone Banking

Access with Fee

Branch and Agency withdrawals

Apply

Details

Remove

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®Registered to BPAY Pty Ltd ABN 69 079 137 518.
* Unlimited free BPAY® excludes rejected payments.
1 Bonus interest paid where there are no withdrawals in the current month. Interest is calculated daily and paid to the account monthly.
2 Bonus interest paid where at least $50 is deposited into the account and there are no withdrawals in the calendar month. Interest is calculated daily and paid to the account monthly.
3 Bonus interest paid where at least $5 is deposited into the account and there are no withdrawals in the calendar month. Interest is calculated daily and paid to the account monthly.
4 Interest is calculated daily and paid to the account annually on 31 October.

Rates quoted are current at date of issue and may change without notice. Interest is calculated daily and paid on the last day of the month except where stated. Interest is calculated on the entire balance of each account at the applicable rate, except for the Online Saver Account where interest is calculated on the portion of the account balance in each interest tier. No interest is paid where the balance falls below the lowest tier shown for each account.
Terms, conditions, fees & charges apply and are available on application.You should consider our Disclosure Documents. This information  is provided without reference to your personal circumstances so you should consider whether this product fits your objectives, financial situation and needs. Contact us on 13 11 82 with any questions, or visit your nearest branch to talk to a consultant.

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