Public Notice

Changes coming to some of our accounts on 14 April 2026. For more information, visit our Public Notices page.

Savings accounts
Everyday Banking > Savings Accounts

Savings accounts

Achieving your savings goals is a great feeling. The first step is opening a savings account, where you can keep your savings separate from your everyday spending money.

SBS i-save – the savings account that helps you stay on track.

i-Save account
0.40%
per annum 
Interest calculated every day
and paid monthly.

Interest rates are subject to change.

 

Verify online with:

Our i-save account is the simple way to save. You can pair it with your SBS Lite transactional account and have instant access to your money anytime, anywhere. You can transfer money in or out to your other SBS accounts, but it has a built-in temptation barrier in place for you with no withdrawals or card access. This account is for saving, not spending.

Features

  • No monthly account fees.
  • No minimum balances.
  • Earn interest on every dollar.
  • Interest is calculated daily and paid into your account monthly.
  • Unlimited online transfers to and from your other SBS accounts.
  • Statements are available online. There is a charge for printing and posting you a paper statement.

Built-in temptation controls

  • Can’t be used for direct debits or ATM withdrawals.
  • No EFTPOS card or Debit Mastercard access.

 

See our fees and charges for more information. Interest rates are subject to change. 

Product features.

Feature SBS i-save
Monthly fee None
Interest calculation Daily
Interest credited to your account Monthly
Fee for electronic withdrawal (Direct debit payments are not permitted on savings accounts) Free
Fee for an over-the-counter withdrawal or transfer at an SBS Branch Free
Can use with Internet Banking and the SBS Mobile app  Yes*
Can use with an EFTPOS card No
Can use with an SBS Debit Mastercard No
Duplicate or additional statements $2.50


*You can make withdrawals yourself from your i-Save account when using Internet Banking or the SBS Mobile app.

Important information for the SBS i-save accounts.