A savings account to support your goals

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 saving so you can bring them to life.

  • A deposit account with no minimum opening balance or ongoing balance
  • Earn bonus interest when you deposit $100 and make no debit transactions during a calendar month
  • Your interest is calculated daily on whole balances and paid monthly

Terms and Conditions apply.

Open my Bonus Saver account

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 on a daily basis and paid monthly.

The Bonus Saver has a tiered interest structure which means you may receive a different rate for your entire balance depending on the tier your balance falls within for the relevant day. A single interest rate (either the Base Rate or one of the Bonus Rates) applies to the whole daily closing balance of the account.

Note that for the final day of each month whether a Bonus Rate or Base Rate is applied is determined by reference to meeting the criteria in the following calendar month. Interest for the final day of each month is paid with the following month’s interest.


If you make a $100 deposit and make no withdrawals on your Bonus Saver Account between 1 April and 30 April (inclusive), you will receive the bonus rate from (and including) 31 March to 29 April.

If you make a withdrawal on your Bonus Saver Account between 1 April and 30 April (inclusive), you will receive the base rate from (and including) 31 March to 29 April.

Whether the bonus rate is applied for 30 April in both cases will depend on if the eligibility criteria of $100 deposit and no debit transactions are met for the calendar month of May (being 1 May to 31 May). Any interest payable for 30 April is paid with the interest earned for the period (inclusive) 1 May to 30 May.

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. 5.25% p.a.
$100,000 and over 0.01% p.a. 3.00% 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
up to

5.25% p.a. Bonus interest rate

on accounts with balances less than $100,000

Your new Bonus Saver Account is just a few clicks away

It’s easy to switch to RACQ Bank using your computer or smart phone. It takes only a few minutes to submit your application online:

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    Fill in your online application and complete your identity check
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    If you have nominated a second applicant they will be sent their invitation to complete their application and identity check also
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    Once your application is submitted we will open your account and send you a text message and email with your account details

Who can open an RACQ Bank Bonus Saver Account?

Bonus Saver Accounts are restricted to a maximum of two accounts per member. To open your Bonus Saver Account online, you’ll need to:

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    Be aged 18 years or over
    Under 18? Phone us on 13 1905 or visit an RACQ store.
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    Have a Queensland residential address
    We like to keep it local at RACQ Bank.
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    Have an Australian mobile phone number
    Your phone keeps your account safe and makes banking easy.
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    Have an Australian driver licence or Australian passport
    Photograph this when you apply and leave the filing to us.

While you're here

Transaction accounts
Explore options for everyone, every day, everwhere.
Term deposits
Get hands-free savings with a locked-in return.
Savings and term deposit calculator
Plan how you'll use the interest you earn.

Why make the switch to RACQ Bank?

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    No everyday transaction fees
    Watch your savings go up, not down.
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    RACQ Bank is secure

    We use leading and proven security measures.

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    Queenslanders rely on us

    We’ve got 1.7 million members and counting.

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    Pick up instant membership

    Smile, you’re about to get discounts.

Make the most of your membership with exciting discounts~~

Wallet clipped
Save on the essentials every week
Enjoy a 4% discount on pre-purchased Woolworths Supermarket eGift Cards.
Free up your transport budget
Take 4 cents per litre off when you fill up at participating Caltex service stations.#
Treat yourself to a little entertainment
Save on eVouchers and eGift Cards for Event Cinemas and BCC Cinemas Queensland-wide.
Earn cashback rewards when you shop
Shop online with more than 200 fashion, beauty, pet, and home retailers and earn cashback rewards.

Bonus saver account FAQs

Things to note

Banking and loan products issued by Members Banking Group Limited ABN 83 087 651 054 AFSL/Australian credit licence 241195 trading as RACQ Bank. Terms, conditions, fees, charges and lending policies apply. This is general advice only and may not be right for you. 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, and consider if appropriate for you 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 Mobile and Internet Banking Terms and Conditions for more information.

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.

~~ Terms and conditions apply to all offers. View the individual offer for full details. Offer is subject to availability and may be withdrawn at any time without notice.

#Conditions apply. Offer available at participating Caltex and Puma Energy service stations. Visit racq.com/caltex for details.