Essential Saver
A variable-rate savings account. The reviewed ongoing rate has no monthly activity requirements.
On this page
Details
| Field | Value |
|---|---|
| Base | 5.25% |
| Ongoing | 5.25% |
| Ongoing cap | $1M |
| Intro | - |
| Intro cap | - |
| Intro period | - |
| Dep/mth | - |
| 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 to $5m |
| Rates unverified | - | - | Over $5m |
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.
- Variable rates apply to portions of the balance. Interest is calculated daily on cleared end-of-day balances using the annual rate divided by 365, and credited on or about the last day of each month.
- No regular monthly account-keeping fee. New members receive an Everyday Direct transaction account when opening savings, also with no monthly account-keeping fee. Other service and transaction charges may apply.
- Deposits over $5,000,000 in aggregate across savings and transaction accounts are subject to bank acceptance. A single account balance does not establish aggregate eligibility.
- No monthly deposit, balance-growth, card-purchase or withdrawal-count bonus test. At-call withdrawals do not forfeit the advertised interest.
- Open up to nine Essential Saver accounts for separate goals. A prolonged nil balance may lead to closure after reasonable notice.
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 | 5.25% | 5.25% | - |
Source: noren.com.au
Eligibility
- Australian citizen or permanent resident with an Australian residential address and satisfactory identity checks.
- Membership covers Australian health-sector employees and retirees, people studying or graduated from healthcare courses at an Australian university, or immediate family of a Health Professionals Bank member.
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 and verified on 31 Oct 2026.