Savings Accounts
Our savings accounts are designed to empower you on your journey towards achieving your financial goals, whether big or small. We offer tailored solutions to suit your saving needs. With features like competitive interest rates, seamless online banking, and Relationship Rewards.
Broken Hill Bank is committed to making saving simple and rewarding with flexibility and features that will help you reach your goals. Explore our range of savings options and discover which account aligns with your personal goals.
How to open a savings account
To open a savings account, you will need:
To be an existing member of Broken Hill Bank or become a member here
Choose the right savings account for you (consider all fees, restrictions & interest rates)
Provide evidence of your identity
Existing members can open a savings account via our Banking App or Internet Banking.
How do I know which savings account is right for me?
Choosing the right savings account depends on your financial goals, spending habits, and savings objectives. Consider factors such as interest rates, accessibility, and account features to determine the best fit for your needs.
Contact us so our staff can help assist you in selecting the most suitable option tailored to your individual circumstances.
Types of savings accounts
eCall Account
Broken Hill Bank’s eCall account allows you to manage your savings 24/7 via online banking. This savings account is perfect for those with long-term or short-term saving goals with no transaction or account fees. Earn interest as you save with the eCall savings account.
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Key features and benefits
Stepped variable interest rates
Interest calculated daily and paid monthly
24/7 online banking
Linked to your Transaction Account
No transaction or account keeping fees
Set up a regular savings plan, deposit salary & other funds directly into your Account
No minimum balance
No in-branch transactions permitted, this is an online banking only savings account.
Interest is calculated on daily stepped balances and credited monthly. For eCall Account, balances may exceed $500,000, however interest will only be calculated and payable on balances up to $500,000.
Apply for an eCall savings account now or become a Broken Hill Bank member
Santa Saver Account
Take the stress out of Christmas with a Santa Saver Account. The perfect savings account to keep you accountable for your money and organised for the festive season.
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Key features and benefits
Organised financially for Christmas time
The money in your Santa Saver Account will be made available from 1st December and transferred into your Transaction Account
Conditions and penalty fees apply if you require your funds prior to 1st December, keeping you accountable for your funds.
No minimum balance
Before applying for a Broken Hill Bank Santa Saver Account you should read the Conditions of Use, Summary of Accounts and Fees and Charges schedule to consider whether the product is appropriate for you before making any decisions.
Youth & kids savings accounts
Explore our dedicated kids savings accounts to support the next generation of Broken Hill Bank savers.
Busy Bee account: Deposit only account for ages 0-11 years old. Teaches children about the value of money.
Super Youth Saver Account: Set saving goals with an attractive interest rate for 12-17 years olds to start saving for their future.
Begin your saving journey with Broken Hill Bank
Whether you're saving for a dream vacation, a down payment on a home, or simply preparing for the holiday season, our accounts offer you the flexibility you need. With features like competitive interest rates, convenient online banking, and tailored options for all ages, Broken Hill Bank is your trusted financial partner. Take the next step and open a savings account with Broken Hill Bank today or contact us for information on what account is right for you.
FAQs
How does an interest-earning savings account work?
An interest-earning savings account works by depositing money into the account, which accrues interest over time. Interest accumulates on your existing bank balance, helping your savings grow. The interest rate and frequency of interest payments vary depending on the bank account type.
Can I have a joint savings account with my spouse or partner?
Yes, you can have a joint savings account with your spouse or partner. Joint savings accounts allow both partners to contribute to and withdraw from the account. In order to open a joint savings account with your spouse or partner you both need to be members of Broken Hill Bank. Contact our staff if you would like to open a joint account.
Why do my children need a savings account?
Children benefit from having savings accounts in several ways. First, it teaches them valuable financial skills such as budgeting, saving, and understanding interest. A savings account also provides a safe place for children to store their money, encouraging them to save for future goals like university, a car, or even their first home.
Important information
Before applying for a Broken Hill Bank savings account you should read the Conditions of Use, Summary of Accounts and Fees and Charges schedule to consider whether the product is appropriate for you before making any decisions.
