iSaver Account

An Internet only account that pays a high rate of interest. Meet the criteria and a bonus will be payable!

  • Simply deposit a minimum of $200 per month
  • Payable on amounts up to $250,000
  • Interest paid monthly
  • Funds available 24/7 via Internet banking

Earn up to  0.56% p.a.

Product Features:

Savings Accounts Features
Annual Fee : $0
Monthly Fee : $0
Funds Available : At Call
Minimum Amount : $1
Overdraft : No
Personal Cheque Facility : No
Branch Access : No
ATM/EFTPOS Access : No
Online Banking : Yes
BPAY : Yes
Direct Entry (Credit/Debit) : Credit Only
Interest Calculation : Calculated daily, paid monthly

iSaver Account (S80)

Balance Interest Rate (p.a.)
$1 or more 0.25% p.a.
Bonus 0.31% p.a.
Earn up to 0.56% p.a.

Interest calculated daily and paid monthly.

  • This account is available for members 18 years and older
  • Access by Internet or our mobile banking app
  • You must be a registered internet banking user. Internet Banking is not available where two or more parties must sign to transact on the account
  • At account opening you must also have an Geelong Bank at call transaction account
  • Deposits: Funds may be transferred into the iSaver Account. A one off deposit/transfer of funds can be conducted by staff at account opening
  • Withdrawals: Funds may be accessed via transfer only
  • Electronic Funds Transfer: Transfers internal/external may be transferred by internet banking or our mobile banking app
  • BPAY: Is available by internet banking or our mobile banking app
  • Periodic Payments: Regular payments can be set up via internet banking or our mobile banking app
  • Bonus Conditions: Make a deposit of $200 per calendar month to receive the bonus rate. Bonus payable on amounts up to $250,000. 

FAQs

Read our most frequently asked questions below or view all our FAQs.

Geelong Bank is a mutual financial services organisation and as such is owned by its members, each one of whom is a shareholder. Part of the membership process is to open an account.

The Financial Claims Scheme (FCS) is an Australian Government scheme that provides protection and quick access to deposits in banks, building societies and credit unions in the unlikely event that one of these financial institutions fails.

Under the FCS, certain deposits are protected up to a limit of $250,000 for each account holder at any bank, building society, credit union or other authorised deposit-taking institution (ADI) that is incorporated in Australia and authorised by the Australian Prudential Regulation Authority (APRA).

The FCS can only come into effect if it is activated by the Australian Government when an institution fails. Once activated, the FCS will be administered by the Australian Prudential Regulation Authority (APRA).

In an FCS scenario, APRA would aim to pay the majority of customers their protected deposits under the Scheme within seven calendar days.

 

Documents & Forms

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iSaver Account

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Footnotes:

  • 1 Make a minimum deposit of $200 per calendar month to qualify for Bonus. Bonus payable on amounts up to $250,000.