Great Southern Bank Goal Saver Review (2026)
Great Southern Bank Goal Saver Review (2026)Rates and conditions verified 24 June 2026
Rates can change without notice. Last verified: 24 June 2026 (AEST). Please confirm details on the bank’s official page.
Bonus rate
5.35%
p.a. up to $50,000
Base rate
0.50%
p.a. if conditions missed
Bank type
Mutual
customer-owned
About Great Southern Bank Goal Saver
Great Southern Bank (formerly CUA — Credit Union Australia) is one of Australia's largest customer-owned banks. As a mutual, it is owned by its members rather than external shareholders, and is regulated by APRA.
The Goal Saver pays 5.35% p.a. on balances up to $50,000 when two monthly conditions are met. It must be held alongside a Great Southern Bank Everyday Edge transaction account, which is used to meet the card purchase condition.
The $50,000 balance cap on the bonus rate is important to note — balances above this threshold earn the lower base rate on the excess.
Current Interest Rates
| Rate type | Rate | Notes |
|---|---|---|
| Bonus rate | 5.35% p.a. | On balances up to $50,000 when conditions met |
| Base rate | 0.50% p.a. | On all balances if conditions not met; on amounts above $50,000 |
Effective 15 May 2026. Check Great Southern Bank's website for the latest rate.
The Monthly Conditions — Explained
Condition 1 — Deposit $500+ from external source
Receive at least $500 by electronic transfer into your Everyday Edge Account from a non-Great Southern Bank account each month. This can be your salary or a transfer from another bank.
Condition 2 — 5 Visa Debit purchases
Make at least 5 settled Visa Debit purchases from your Everyday Edge Account each month. Tap-and-go, online, and in-store purchases count.
Pros and Cons
Pros
- ✓ 5.35% p.a. — competitive ongoing bonus rate
- ✓ Customer-owned mutual bank — profits returned to members
- ✓ No minimum opening deposit
- ✓ No account keeping fees
- ✓ Government deposit guarantee up to $250,000
Cons
- ✗ Bonus rate capped at $50,000 balance
- ✗ Requires linked Everyday Edge transaction account
- ✗ Two conditions to meet monthly
- ✗ Less well-known than major banks
How It Compares
- ING Savings Maximiser5.50% — no balance cap, $1,000 deposit + 5 card purchases
- ANZ Plus Growth Saver5.10% — no balance cap, $100 net growth only
- Great Southern Bank Goal SaverReviewed here5.35% — capped at $50k, $500 deposit + 5 card purchases
- CommBank GoalSaver5.00% — no balance cap, 1 deposit + balance grows
Related guides
Information verified 24 June 2026. Rates variable and subject to change. Confirm current rates and conditions on Great Southern Bank's website before applying. This is not financial advice.