The Finance Algorithm
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Online Saver Account

Manage your savings online with our high interest savings account.

Savings & transaction accountsBank updated 1 Nov 2026

At a glance

Up to
4.85%
Base rate
3.45%
Bonus rate
1.40%

How it compares

This account in ink, against the best that every other institution publishes for anyone to apply for. Each figure is counted the same way for all of them.

This account: 4.85%Every other institution's highest, 50 in all

Base plus bonus, when every condition is met. One dot per institution, at its highest bonus savings rate anyone can apply for; hover or tap a dot for its name.

RateThis accountBest anywhereTypical institutionWhere it sits
Bonus savings accountBase plus bonus, when every condition is met4.85%5.75%Defence Bank Limited's iSaver5.25%of 51 institutions36th highest of 51, level with one other
Bonus account, conditions missedWhat a bonus account pays in a month its conditions aren't met3.45%3.45%Heritage's Online Saver Account0.10%of 43 institutionsHighest of 43

Rates

Every rate Heritage publishes for this account, 2 in all.

How the rate is made up

4.85%in a month every condition is met

3.45% base rate1.40% bonus, when its conditions are met
TypeApplies toTermBandRateComparisonConditions
Bonus--$1–$100,0001.40%-paid every 1 mo; Bonus Promotional 4 month rate on new accounts up to $100,000
Variable--$1+3.45%-paid every 1 mo

Rate changes

One change logged, newest first.

DateRateWasNowChange
1 Nov 2026Variable, $1+3.20%3.45%up 0.25

Each change is logged the night it appears in the rates People First and Heritage Bank publishes. See how every lender answered the RBA on the rate tracker.

Fees

13 fees published, grouped by when they're charged.

When you make a transaction2

  • Payroll Processing
    $0.50
  • RTGS payment/transfer to your account
    $10

When particular things happen10

  • Business internet banking security token

    Including replacement security tokens

    $50
  • Direct Debit Dishonour Fee
    $10
  • Document/Record search fee

    For record searches, traces, supplying copy of details of transactions (including Visa card transaction slips) at your request on your account

    $12
  • Heritage Online Business internet Banking - Account Reconciliation
    $0.05
  • Heritage Online Business internet Banking - Payroll and creditor batch payments - for each payment in a batch
    $0.05
  • Inactive Account Administration Fee
    $20
  • Overdraft Reference Fee
    $10
  • SMS Services
    $0.25
  • Statements

    For the second and subsequent statement issued during a month, or when a statement is issued on your account at your request at any time before the next statement issuing due date

    $1
  • Transaction listing

    When a transaction listing between two given dates is issued on your account

    $5

Other fees1

  • Paper Based Statement Fee

    Fee is charged for each paper statement issued as per your account statement cycle. Excludes eStatements which are free of charge.

    $3

Features

Digital bankingUnlimited transactionsHeritage Credits is Heritage's loyalty program
  • Electronic or Physical statements provided
  • Scheduled, periodic payments available
  • Direct debit facility available
  • Bonus interest introductory offer
  • SMS services available

Eligibility and limits

  • Minimum balance $1
  • Opening balance $1
  • You need to be a registered user of Heritage Online.

Published by People First and Heritage Bank under the Consumer Data Right, last changed by them on 1 Nov 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.