Greater Bank
Life Saver
Conditional savings account for under 25 year olds
Savings & transaction accountsBank updated 24 Sept 2026
At a glance
- Base rate
- 5.25%
§ 01 — Rates · 1
| Type | Applies to | Term | Band | Rate | Comparison | Conditions |
|---|---|---|---|---|---|---|
| Variable | — | — | up to null | 5.25% | — | paid every 1 mo; To qualify for interest, your closing balance must be higher than the opening balance (excluding any interest earned) for the calendar month. |
§ 02 — Fees · 16
| Fee | Type | Amount | When | Notes |
|---|---|---|---|---|
| Foreign currency deposit fee | Deposit | $5 | — | — |
| Direct debit dishonour fee | Dishonour | $8 | — | — |
| Information fee - Per Page | Enquiry | $1 | — | $20.00 plus $1.00 per page |
| Information fee | Enquiry | $20 | — | $20.00 plus $1.00 per page |
| Stop payment fee | Event | $7 | — | Charged to stop payment of a cheque you have drawn or a bank cheque. |
| Unclaimed monies fee | Event | $30 | — | Charged if an account had no transactions (other than government charges or interest) processed during the last three years. Fee not applied if account holder is under 18 years of age. |
| Dormant account fee | Periodic | $15 | Every 6 mo | $15.00 six monthly if an account has no transactions (other than government charges or interest) processed during the preceding 24 months |
| SMS alert fee | Transaction | $0.20 | — | Charged for each SMS alert that is sent to you notifying you of account balances and/or other nominated transactions. |
| Bank transfer fee | Withdrawal | $8 | — | Applicable when receiving an inward RTGS (Real time gross settlement) |
| Bulk coin purchase fee - Existing branch stock | Withdrawal | 2.00% of transaction | — | Existing branch stock 2.00% of total value (minimum $2.00) |
| Bulk coin purchase fee - External order | Withdrawal | $8 | — | — |
| EasyPay notification fee - Letter | Withdrawal | $8 | — | — |
| EasyPay notification fee - SMS | Withdrawal | $0.20 | — | — |
| EFT transaction fee (RTGS) | Withdrawal | $20 | — | Applicable when you send an outward RTGS (Real time gross settlement) |
| Telegraphic transfer - Australian Currency (Outgoing International Payment) | Withdrawal | $50 | — | When transferring in AUD. Fee is inclusive of $40.00 payable to the product issuer, Convera Australia Pty Ltd. |
| Telegraphic transfer - Foreign Currency (Outgoing International Payment) | Withdrawal | $30 | — | When transferring in a foreign currency. Fee is inclusive of $20.00 payable to the product issuer, Convera Australia Pty Ltd. |
§ 03 — Features
Instant paymentsPayIDDigital bankingUnlimited transactions
§ 04 — Eligibility & limits
- · Maximum age 25
- · Residency: Australian Residents only
- · Available to individuals
- · Minimum balance $1
- · Opening balance $1
- · Must be identifiable in terms of legislative requirements
§ 05 — Compare
§ 06 — Run the numbers
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Published by Greater Bank under the Consumer Data Right, last changed by them on 24 Sept 2026. Figures are shown as the institution publishes them and can change without notice; confirm on their site before applying. The Finance Algorithm earns nothing from any product listed here.