Savings account
Incentive Saver — BankSA
Current savings rate from BankSA. Compare the ongoing rate, bonus conditions, and eligibility in one place.
Grow your account balance by at least $50 each calendar month (customers under 21 need only grow by $0.01). The growth must occur before the last business day of the month, and your balance must stay above $0 throughout.
Bonus rate applies on balances up to $19,999
The $50 growth requirement is based on net deposits, not including interest — if you withdrew money during the month, you need to deposit enough to bring the closing balance above last month's level by at least $50. Missing by even one cent drops you to the base rate of 0.10% p.a. for that month.
Rate History
The Incentive Saver rate has not changed since we started tracking on 23 May 2026. Current rate: 5.15% p.a.
| From | To | Ongoing rate p.a. |
|---|---|---|
| 23 May 2026 | — | 5.15% Current |
What to know
This page focuses on the ongoing rate: 5.15% p.a.
To earn the full rate, you need to meet these conditions: Grow your account balance by at least $50 each calendar month (customers under 21 need only grow by $0.01). The growth must occur before the last business day of the month, and your balance must stay above $0 throughout.
If you miss the conditions in a given month, you earn only the base rate: 0.10% p.a.
Most common catch: The $50 growth requirement is based on net deposits, not including interest — if you withdrew money during the month, you need to deposit enough to bring the closing balance above last month's level by at least $50. Missing by even one cent drops you to the base rate of 0.10% p.a. for that month.
The bonus component is capped at $19,999.
Eligibility: minimum age 14.
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The information on this page is general in nature and does not constitute financial advice. Rates are subject to change — verify directly with the provider before making a financial decision.