Essential Saver account
An interest bearing online savings account with a tiered interest rate structure.
On this page
Details
| Field | Value |
|---|---|
| Base | 5.25% |
| Ongoing | 5.25% |
| Ongoing cap | $1M |
| Intro | - |
| Intro cap | - |
| Intro period | - |
| Dep/mth | 0 |
| Dep $/mth | - |
| Growth/mth | $0 |
| Buys/mth | 0 |
| Txns/mth | - |
| W/d/mth | - |
| Min age | - |
| Max age | - |
| Fee/mth | $0 |
Source: noren.com.au
Interest rates & fees
| Type | Rate | Applies to | Balance |
|---|---|---|---|
| Standard variable | 5.25% | This band only | First $1m |
| Standard variable | 3.25% | This band only | Over $1m |
Source: noren.com.au
This band only: the rate applies to the money within the listed balance range. Other portions earn their own rates.
Rate requirements
For Essential Saver account.
- No monthly deposit, growth, purchase or withdrawal-count qualification. Rates apply separately to each portion of the balance.
- Provider fee review 29 October 2026: this savings account has no monthly account-keeping fee. This does not waive transaction, statement, special-service or separately linked-account charges, their published conditions still apply.
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 |
|---|---|---|---|
| 29 Oct 2026 | 5.25% | 5.25% | - |
Source: noren.com.au
Eligibility
- Individuals must be citizens or permanent residents of Australia.
- Membership is required. The current Australian Mutual individual-membership application requires Australian citizenship or permanent residency and identity documents, the old education-sector-only source sentence is not imposed as an additional restriction.
Similar products
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 31 Oct 2026.