First Option Bank Savings + Bonus

savings accountage limitedterms checked

Savings + Bonus is a savings account from First Option Bank. At $50,000 it pays 5.25% p.a. in a month in which the bank's conditions, which its feed does not state, are met and 0.25% when they are not.

Rate tiers

Every balance band in the bank's feed: base is the rate when the bonus conditions are not all met, bonus the add-on for meeting them, conditional the two together.

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.

The bonus is paid on top of the base rate in a month in which the conditions are met; conditional is the two together, and the base rate is what is paid otherwise.

The bonus rate changes with the balance; the bands above show what the feed states for each.

Conditions

For the bonus rate

• bonus conditions not stated in the feed

Other conditions

• bonus rate needs a deposit of at least $100 and no withdrawals in the calendar month; otherwise 0.25%
• a monthly membership fee applies unless the member has a $1,000 balance, a loan or credit card, is 25 or under, or is in the first 3 months
• you must be eligible to join First Option Bank as a member (by employer or industry, family relation of a member, former member or board-approved affinity) before opening

Features

app

yes

Osko

yes

notifications

yes

Fees, limits and who can open it

monthly fee

no monthly fee stated

interest paid

monthly

interest calculated

daily

age

up to age 16

open to

personal customers

age limited

open only to people of certain ages (kids, youth or seniors accounts)

Who can open it, in the bank's own words:

• age 16 and under
• residency: Australian Residents

About this account

Earn Bonus interest on your savings account when you deposit $100 per month with no withdrawals

Data

• First Option 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: Deposit-Account-Interest-Rates-October-2026.pdf, 0626-Summary-of-Account-and-Access-Facilities.pdf, MembershipAccounts-Fees-Charges-2026.pdf, disclosure-statements, deposit-rates, join, about-us, conditions-of-use, high-interest-savings, kids-banking, accounts, everyday-banking, TMD-SavingsBonus.pdf; conditions they state and its feed does not are listed above.
• /au/finance/savings-accounts/v1/brands/first-option-bank.json: this bank's accounts and every balance band as JSON; First Option Bank's page lists them.
• The bank last updated this record on 11 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 First Option Bank

• Bonus Saver savings account, 3.55% conditional at $50,000
• Christmas Saver savings account, 2.50% base at $50,000
• Kids Bonus Saver savings account, 1.84% conditional at $50,000
• Retirement Access savings account, 3.15% base at $50,000
• S11 Retirement Accessstale savings account, 2.71% base at $50,000
• Save Account savings account, 3.44% base at $50,000
• Smart Start Access Saverstale savings account, 3.19% base at $50,000
• Special Purposestale savings account, 0.50% base at $50,000
• Business Cash Hub cash management account, 0.68% base at $50,000
• Cash Management cash management account, 2.43% base at $50,000
• Super Cash Hub cash management account, 0.90% base at $50,000
• Bills Accountstale transaction account, 0.50% base at $50,000
• Spend Accountstale transaction account, 0.05% base at $50,000

All of First Option Bank's accounts on its page, with its best rates per segment and rate kind, and every account at every bank.