Bank of Melbourne savings accounts

Bank of Melbourne savings accounts at a glance

As of 21 Sept 2026, Bank of Melbourne has 2 savings accounts in our dataset. The highest advertised rate is 5.15% p.a. on Incentive Saver, which requires you to keep a positive balance throughout the month and make at least 1 deposit each month and for customers aged 21 and over, grow the balance by at least $50 by month end and finish the month with a higher balance than you started with. The highest rate with no monthly conditions is 1.30% p.a. on Business Access Saver. Rates were last verified on 21 Sept 2026 against the bank's official product pages.

Rates as of 21 Sept 2026
Bank	Product	Max rate	Ongoing rate	Intro offer	Top rate applies to	Conditions
Bank of Melbourne	Incentive Saver	5.15% p.a.	5.15% p.a.	—	Any balance	Keep a positive balance throughout the month. Make at least 1 deposit each month. For customers aged 21 and over, grow the balance by at least $50 by month end. Finish the month with a higher balance than you started with.
Bank of Melbourne	Business Access Saver	1.30% p.a.	Up to 1.30% p.a.	—	Any balance	No monthly conditions.

Incentive Saver

To earn the bonus rate, keep the balance above $0 at all times, make at least one deposit excluding interest, and finish the month with a higher balance than you started.

Last updated: 20 Sept 2026

Advertised rate

5.15% p.a.

Open account

Rate details

Ongoing rate

5.15% p.a.

Any balance

5.15% p.a.

How to get the best rate

Keep a positive balance throughout the month.
Make at least 1 deposit each month.
For customers aged 21 and over, grow the balance by at least $50 by month end.
Finish the month with a higher balance than you started with.

Who can open it

$50 cashback promotion currently listed.
Cashback promotion is limited to new customers.
Cashback requires a linked Complete Freedom account account.
Cashback requires depositing at least $50 within 10 days.

Business Access Saver

Earn tiered variable rate up to 1.30% p.a. paid on the whole balance (0.45% under $50k, 0.60% $50k-$250k, 1.15% $250k-$1M, 1.30% $1M+).

Last updated: 21 Sept 2026

Advertised rate

Up to 1.30% p.a.

On balances from $1,000,000

Open account

Rate details

Ongoing rate

Up to 1.30% p.a.

Up to $50,000

0.45% p.a.

$50,000 to $250,000

0.60% p.a.

$250,000 to $1,000,000

1.15% p.a.

$1,000,000+

1.30% p.a.

Your whole balance earns the rate for the tier it falls into.

How to get the best rate

No monthly conditions.

Who can open it

Available to Australian registered businesses.
Requires an active linked Bank of Melbourne Business Transaction Account.
Tiered rate up to 1.15% p.a.

Rates, eligibility and product terms can change. Check the bank's official page before opening an account.