UniBank Essential Saver Account Summary
Description
An interest bearing online savings account with a tiered interest rate structure
Benefits
- No monthly savings-account fee.
- No monthly activity requirements for the ongoing rate.
Hoops
- Ongoing rate cap: $1,000,000. See the rate breakdown for higher balances.
On this page
Details
Key details
| Product name | UniBank Essential Saver Account |
|---|---|
| Maximum variable rate | 5.25% p.a. |
| Ongoing interest rate | 5.25% p.a. |
| Base interest rate | 5.25% p.a. |
| Minimum age | - |
Source: noren.com.au
All comparison details
| 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
Rates & features
Interest rates
Variable rates % p.a. at $699, assuming applicable bonus conditions are met.
- Base: 5.25% p.a..
Full rate breakdown
| 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
Share/Export
This band only: the rate applies to the money within the listed balance range. Other portions earn their own rates.
Requirements
- The Momentum and Essential CDR eligibility text still mentions education-sector employees. Current UniBank eligibility explicitly covers the Australian university community, that provider-confirmed cohort is used here and original source wording remains signed.
- No introductory pricing or regular monthly account-keeping fee. New members opening a savings account automatically receive an Everyday Direct transaction account, its regular monthly account fee is also zero. Other service/transaction fees may apply.
- Interest 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. Rates apply to balance portions, not the highest tier on the whole balance.
- Deposits above $5,000,000 in aggregate across savings and transaction accounts are subject to bank acceptance. A single comparison balance does not establish the customer’s aggregate deposits.
- No monthly deposit amount, balance-growth, purchase or withdrawal-count bonus test. At-call withdrawals do not forfeit the advertised savings interest.
- Open up to nine Essential Saver accounts for separate goals. No minimum or regular deposit requirement, a prolonged nil balance may lead to closure after reasonable notice.
Fees
- Monthly account fee: $0
Showing reviewed fees only, other charges may apply
How to apply
Check these eligibility requirements before applying with UniBank.
- Australian citizen or permanent resident, Australian residential address and satisfactory identity checks. Standard membership eligibility covers Australian university employees/retirees, students/graduates and immediate family of UniBank members.
- The website also advertises a non-shareholding customer application route. Confirm that route’s eligibility with the bank, it does not remove the account-specific age/student or pension conditions. Related Teachers Mutual, Firefighters Mutual and Health Professionals feeds are separate brands, not automatically covered.
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Sources & review
Noren aggregates information from multiple primary sources to ensure you're getting the most up-to-date, accurate information. All product information is peer reviewed.
Collected on 31 Oct 2026. Pricing verified on 28 Oct 2026.