Australian Mutual Bank Essential Saver Account
savings accountoccupation membershipterms checked
Essential Saver Account is a savings account from Australian Mutual Bank. At $50,000 it pays 5.50% p.a. with no bonus conditions.
Rate tiers
Every balance band in the bank's feed: base is the rate the bank pays.
| Balance | Base |
|---|---|
| $0 – $1,000,000stepped: paid on the part of the balance in this band | 5.50% |
| $1,000,000.01+stepped: paid on the part of the balance in this band | 3.50% |
The rates are stepped: each band's rate is paid on the part of the balance that falls in it, so a balance across several bands earns a blend of them.
Conditions
- Membership limited to current or retired employees of the Australian education sector or family members of members (i.e. shareholders) of the Bank (the lender's words)
- also open to self-managed super funds (SMSFs): the bank's own words are "an Australian company, partnership, trust, unincorporated association, incorporated association, self-managed super fund, government body or registered co-operative."
Features
- app
- yes
- Osko
- yes
- PayID
- yes
- notifications
- yes
- transactions
- unlimited
Other features, in the bank's words:
- No fees for accessing your account online.
- No monthly access fee.
- No minimum balance.
Fees, limits and who can open it
- monthly fee
- no monthly fee stated
- interest paid
- monthly
- interest calculated
- daily
- open to
- personal and SMSF customers
- occupation membership
- open only to people in certain occupations, or the lender takes members only from them
Who can open it, in the bank's own words:
- You must be a member. Membership is open to current or retired employees of the Australian education sector or family members of members (i.e. shareholders) of the Bank.
- residency: Individuals must be citizens or permanent residents of Australia.
About this account
An interest bearing online savings account with a tiered interest rate structure.
Data
- Australian Mutual Bank's own page for this account.
- The bank's documents its product record links to: terms and conditions, fees, eligibility.
- Our verbatim snapshot of the bank's product record (source), as fetched on 12 November 2026.
- We read the bank's own page and terms against this page on 1 November 2026: essential-saver, fees-and-charges, conditions-of-use-accounts-and-access, become-a-member; conditions they state and its feed does not are listed above.
/au/finance/savings-accounts/v1/brands/australian-mutual-bank-ltd.json: this bank's accounts and every balance band as JSON; Australian Mutual Bank's page lists them.- The bank last updated this record on 12 November 2026. Rates are per annum as the bank states them; "stale" means the bank has not updated the record for over 60 days or since the latest cash rate change.
Other accounts at Australian Mutual Bank
- Business Saver Account savings account, 2.95% base at $50,000
- Momentum Saver Accountstale savings account, 5.35% conditional at $50,000
- Pension Advantage Account savings account, 3.50% base at $50,000
- Starter Saver Account savings account, 5.75% base at $50,000
- Edvest Cash Management Account cash management account, 1.50% base at $50,000
- Everyday Business Accountstale transaction account, 0.01% base at $50,000
- Everyday Direct Accountstale transaction account, 0.00% base at $50,000
All of Australian Mutual Bank's accounts on its page, with its best rates per segment and rate kind, and every account at every bank.
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