Power Saver
Up to
Standard + bonus variable rate
Why choose a Power Saver savings account?
Earn bonus interest
Top up your balance, skip the withdrawals – and get rewarded with bonus interest.
Organise your savings
Open up to three accounts to keep your goals clear and your savings growing.
Small change, big wins
Pay&Save rounds up your spending to grow your savings, so you can ditch the coin jar.
Secure online banking
With the BCU Bank app and internet banking, your money’s protected around the clock.
The features don't stop there
- Keep more of your money with no minimum balance requirements and zero monthly fees.
-
Boost your savings with an interest rate of up to4.60% p.a.when you stick to a simple habit – deposit $100 or more each month and don’t make any withdrawals.
- Reach your goals faster with bonus interest paid on balances up to $250,000.
- Your savings are safe – deposits up to $250,000 are protected by the Financial Claims Scheme.
How much could you save?
Want to see how your money could grow? Discover your savings potential with our savings goal calculator.
Deposit $100 or more
Put at least $100 into your Power Saver each month and watch your savings grow.
Make no withdrawals
Skip the withdrawals and let your savings do their thing.
Earn bonus interest
You nailed it! Enjoy your bonus interest boost on savings up to $250,000 for sticking to your savings plan.
rates and fees
Interest rates
| Rate type | Tier | Interest rate |
|---|---|---|
| Standard rate | $0 + | 0.50% p.a. |
| Bonus rate | Up to $250,000 | 4.10% p.a. |
| Total maximum rate (standard + bonus) | Up to $250,000 | 4.60% p.a. |
Fees and charges
Our Power Saver has no monthly or standard transaction fees.
Other fees and charges that may apply can be found on our account fees and charges page.
Open a savings account online in minutes
To open an account online, you'll need to be:
New customer
You can open a Power Saver online in just a few minutes – no paperwork, no pressure, just a few steps and you’re sorted.
Existing customer
It's quick and easy to open a new account whenever it suits you using internet banking or the BCU Bank app.
Am I eligible to open an account?
To open an account online, you’ll need to:
- be at least 18 years old
- live in Australia with a current residential address
- be applying as an individual (not a business or association)
What do I need to open an account online?
All you need is a NSW or QLD driver licence or valid passport to verify your identity.
We also recommend having your tax file number (TFN) ready. If you earn more interest than the limit set by the ATO and you haven’t provided us with your TFN, withholding tax may be deducted from the interest you earn.
Already bank with us?
You can open a new account through internet banking or the BCU Bank app – no additional ID required.
Prefer to visit a branch?
Drop into one of our branches to open your account in person. If you don’t already bank with us, you’ll need your Australian driver licence or passport.
Don't have photo ID, are under 18, or not an Australian resident? We also accept alternative forms of identification.
Tools to help you save
Got a question about savings accounts?
You can have up to three Power Saver accounts in total – which is perfect to help you stay organised and track your different savings goals!
Once you open your first account either online or in a branch, you can open more Power Savers in your own name using internet banking or the BCU Bank app. If you’d like to open a joint account, you’ll need to call us on 1300 228 228.
To earn bonus interest, you‘ll need to deposit at least $100 each calendar month and not make any withdrawals.
If you do make a withdrawal, don’t stress – you’ll just earn the standard interest rate for that month, but you’ll have another chance to earn bonus interest again the next!
You’ll still earn the standard interest rate for the month, even if you dip into your savings. And don't worry – there's always next month to try and earn that bonus interest!
Because we're here to help
Talk to the team
Got a question? Call us on 1300 228 228, pop into your local branch, or chat to us online.
Get answers online
Check out our how-to guides, search our FAQs, and find support services.
Important information
Banking and Credit products issued by Police & Nurses Limited (BCU Bank).
Any information on this website is general in nature and does not consider your personal needs, objectives or financial situation. Our rates are current as of today and can change at any time. Credit eligibility criteria, terms and conditions, fees and charges apply.
Read the relevant product terms and conditions before deciding if a product is right for you.
Bonus interest is applied when a minimum of $100 is deposited and no withdrawals are made from the account during the calendar month. The standard rate will still apply if the bonus interest conditions aren’t met. Bonus interest is paid on balances up to $250,000, with balances more than of $250,000 earning only the standard rate.
Customers can hold up to three Power Saver accounts in total, whether held in single or joint names.