Savings Account (limited release)
A limited-release online savings account with an advertised variable rate, no monthly account fee and no bonus activity requirements. New applicants are currently directed to a waitlist.
On this page
Details
| Field | Value |
|---|---|
| Base | 4.50% |
| Ongoing | 4.50% |
| Ongoing cap | $250K |
| Intro | - |
| Intro cap | - |
| Intro period | - |
| Dep/mth | - |
| Dep $/mth | - |
| Growth/mth | - |
| Buys/mth | - |
| Txns/mth | - |
| W/d/mth | - |
| Min age | 18 |
| Max age | - |
| Fee/mth | $0 |
Source: noren.com.au
Interest rates & fees
| Type | Rate | Applies to | Balance |
|---|---|---|---|
| Standard variable | 4.50% | Whole balance | Up to $250k |
| Rates unverified | - | - | Over $250k |
Source: noren.com.au
Rate requirements
For Savings Account (limited release).
- Limited release. The savings page and FAQ currently direct new applicants to a waitlist. The advertised rate applies to eligible released accounts and is not a promise that everyone can open an account now.
- Interest is calculated on the daily closing balance and paid monthly. The current terms specify payment on the first day of each month, while the FAQ says month end, confirm the exact crediting date with Alex Bank. The terms use 365 days, or 366 in a leap year.
- No minimum opening deposit, monthly deposit, growth, purchase or withdrawal-count bonus test. No introductory or honeymoon rate. No monthly account, online-payment or withdrawal fees under the current Savings Rate and Fee Guide.
- The ordinary account holding limit is $250,000, not an interest-only cap or permission to earn zero on excess funds. Contact Alex Bank for any higher limit, individually approved excess holdings and their pricing are outside this comparison.
- The account is accessed through internet banking and the mobile app. Transfers must be in Australian dollars to or from an Australian bank account. No linked transaction account is required. The current terms list direct debits, recurring future-dated transfers, BPAY, digital wallets, PayID/NPP, cards and overdrafts as unsupported.
- The current terms limit each account holder to one Savings Account. The standard daily withdrawal limit is $5,000, contact Alex Bank for larger withdrawals. The FAQ says overseas account access is unavailable. An account with a zero balance for fourteen consecutive days may be closed.
Fees
| Fee | Amount | Details |
|---|---|---|
| Monthly account fee | $0 | Monthly account fee. |
Source: noren.com.au
Showing reviewed fees only, other charges may apply
Rate history
| Observed | Base | Ongoing | Intro |
|---|---|---|---|
| 31 Oct 2026 | 4.50% | 4.50% | - |
Source: noren.com.au
Eligibility
- Limited release, new applicants currently join the provider waitlist. Application access is subject to Alex Bank releasing the account to you and approving your application.
- Individual applicants aged 18 or older who are Australian citizens or permanent residents, residing in Australia when applying, with accepted Australian-issued photo identification. Joint accounts, trusts and non-individual applicants are not eligible under the reviewed ordinary terms.
Tools & support
Things you should know
- Check withdrawal access, linked-account requirements and transaction timing with the provider.
- Introductory and ongoing offers may have different eligibility and balance limits.
Collected on 30 Oct 2026. Pricing verified on 29 Oct 2026.