Greater Bank
Life Saver
Greater Bank · trans and savings accounts
Provider last updated this product 2026-09-23.
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You'll complete your application on
Greater Bank's website. Confirm the rate and fees with them
before applying.
Conditional savings account for under 25 year olds
Deposit rates
| Type | Rate | Term | Calculated | Applies to | Conditions | Interest |
|---|---|---|---|---|---|---|
| VARIABLE | 5.25% | - | daily | $0+ | - | calculated daily, paid monthly |
| To qualify for interest, your closing balance must be higher than the opening balance (excluding any interest earned) for the calendar month. | ||||||
Fees
| Fee | Type | Amount | Details |
|---|---|---|---|
| Stop payment fee | EVENT | $7 | Charged to stop payment of a cheque you have drawn or a bank cheque. |
| 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. |
| 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. |
| Direct debit dishonour fee | DISHONOUR | $8 | - |
| EasyPay notification fee - Letter | WITHDRAWAL | $8 | - |
| Information fee - Per Page | ENQUIRY | $1 | $20.00 plus $1.00 per page |
| 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% | Existing branch stock 2.00% of total value (minimum $2.00) |
| Bulk coin purchase fee - External order | WITHDRAWAL | $8 | - |
| EFT transaction fee (RTGS) | WITHDRAWAL | $20 | Applicable when you send an outward RTGS (Real time gross settlement) |
| Information fee | ENQUIRY | $20 | $20.00 plus $1.00 per page |
| 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. |
| Dormant account fee | PERIODIC | $15 | $15.00 six monthly if an account has no transactions (other than government charges or interest) processed during the preceding 24 months |
| Foreign currency deposit fee | DEPOSIT | $5 | - |
| EasyPay notification fee - SMS | WITHDRAWAL | $0.20 | - |
| 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. |
Rate history
The figures behind this chart
| From | Until | Rate |
|---|---|---|
| 2026-07-15 | 2026-09-30 (current) | 5.25% |
Published figures as captured daily since 2026-07-15. A step is the day the provider's published figure changed; days without a published figure carry the last published value.
Features
Who can apply
- otherMust be identifiable in terms of legislative requirements
- natural person
- residency status - Australian Residents only
- max age - 25Must be under 25 years of age to open the account but can retain it for life.
Limits
- opening balance - 1.00
- min balance - 1.00
The provider's own documents
Published by the provider under the Consumer Data Right. These are their documents, not ours - they are the authority on this product.
Last updated by data holder: 2026-09-23T14:00:00Z · Product ID: 3045