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A savings account to support your goals

Reaching your next financial goal is easy when you’ve got a bonus interest savings account designed to help you gain momentum. Our Bonus Saver Account rewards the hard work you put in with an attractive interest rate, no hidden fees or charges, and convenient digital banking options. If you’ve got big dreams, RACQ Bank is here to help you get the saving you need to bring them to life.

  • Deposit account with no minimum opening balance or ongoing balance
  • Earn bonus interest every month you deposit $100 or more and make no withdrawals
  • Your interest is calculated daily on whole balances and paid monthly

Open my Bonus Saver account

up to

0.70% p.a. bonus interest rate

when you deposit $100 or more without making any withdrawals in a calendar month

Bonus Saver Account interest rates

Taking advantage of our bonus interest rate (which includes the base rate) is easy. All you need to do to earn the bonus interest is:

  • Deposit at least $100 a calendar month
  • Not make any debit transactions in the calendar month

Interest is calculated daily on whole balances and paid monthly. The Bonus Rate quoted includes the Base rate.

It’s also worth noting that our card-free Bonus Saver accounts are restricted to a maximum 2 per member.

To learn more about interest rates, you can always check out our Deposit Rate Schedule.

Account balance Base interest rate Bonus interest rate
Up to $99,999 0.01% p.a. 0.70% p.a.
$100,000 and over 0.01% p.a. 0.20% p.a.

Bonus Saver Account fees

Weighing up your options before you open your Bonus Saver Account? You should consider reading the full list of fees in our Fees and Charges Schedule.

Fee Amount
Everyday transaction fees such as internet transfers, direct debits and direct credits $0
Monthly account keeping fees $0
Cash request fee for cash withdrawals of more than $5,000 At cost

Bonus Saver Account FAQs

Yes, however, if you withdraw money from your Bonus Saver Account you will not be eligible to receive the bonus interest rate for that calendar month. As these bonus interest savings accounts are card-free, to access your money you’ll need to:

  • Drop into your nearest RACQ store to make your withdrawal in person
  • Phone 13 1905 to access your funds via phone banking
  • Transfer money to your Everyday Account for ATM withdrawal
  • Transfer to another bank account with a linked debit card

All transfers made between your RACQ Bank accounts are instant; transfers to other Australian bank accounts using Internet Banking, the app, in-store or over the phone can take up to three business days.

To find out more about transfer times when using your bonus interest savings account, phone 13 1905 or drop into your local RACQ store.

It usually takes just under five minutes to submit your online application for our bonus interest savings account. From there, we’ll review your form in one business day, send you a request to digitally verify your ID, and provide you with your account details soon after verification. Once you log in and change your password, you’ll all set!

No. Bonus Saver Account is one of our card-free deposit accounts, which is one of the many ways RACQ Bank is helping members save every day. Remember: You’ll not be eligible to receive your bonus interest rate if you withdraw funds.

While you’re here

Transaction Accounts

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Term Deposits

Get hands-free savings with a locked-in return.

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Savings & Term Deposit Calcula...

Plan how you’ll use the interest you earn.

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Banking products are issued by Members Banking Group Limited ABN 83 087 651 054 AFSL and Australian credit licence 241195 trading as RACQ Bank. This information does not take your personal objectives, circumstances or needs into account. Read the disclosure documents for your selected product or service, including the Financial Services Guide and the Terms and Conditions before deciding.

Except for RACQ Bank, any RACQ entity referred to on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth). That entity’s obligations do not represent deposits or other liabilities of RACQ Bank. RACQ Bank does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.

You can only create a PayID within mobile or internet banking by linking it to an eligible account. Not available on some accounts. Please read the internet banking terms and conditions for more info.

Biometric identification features are compatible with selected devices only, noting that some devices may not be able to use particular biometric identification methods. For Android, selected biometric features should be available on devices with android v 4.4 or greater, provided that feature is available in device. For iOS device, any device that is running with IOS version 9,10 or 11(or greater), provided that feature is available in device. 

# E10, Unleaded 91, Premium Diesel and LPG only. Conditions, limits and exclusions apply. See Puma Energy fuel discount for more information.

~ eGift Cards:

  • Discount applies at checkout
  • Discount is on pre-purchased WISH and Woolworths Group eGift Cards only
  • Offer available online only
  • Discount not available when purchased in store
  • WISH and Woolworths Group eGift Cards terms and conditions apply
  • WISH and Woolworths Group eGift Cards are emailed to your nominated email address
  • A maximum of ten WISH and Woolworths Group eGift Cards may be purchased in one transaction
  • You can check your eGift Card balance here
  • Woolworths Limited ABN 88 000 014 675 is the issuer of the WISH and Woolworths Group eGift Card, but is not the promoter of the offer, nor responsible for fulfilment of the offer terms. WISH and Woolworths Group eGift Cards have no expiry date and are redeemable at participating stores only. For a list of participating stores and full eGift Card Terms and Conditions visit