The bank offers a complete range of bank accounts for customers of all ages, ranging from children’s accounts to special accounts for aged pensioners and retirees.

Transaction accounts

St.George Bank’s main transaction account is known as a Complete Freedom account.  It’s a fee-free transaction account offering access to a spending tracker tool through its mobile app.  It can also be used as an offset account if linked to a home loan, and is also available as one of the best joint bank accounts.

The tracker tool divides your spending into categories such as ‘dining out’ or ‘food and beverages’ so you’re able to see where your money has been spent.  It also offers the opportunity to receive alerts on your phone (such as when a payment is coming out of your account, or wages have been paid into it).  A Quick Balance option also allows you to see your account balance at a glance on your phone or smartwatch.

A linked Visa credit or debit card is also available, as well as PayID payments, Bank@Post options, Apple Pay and access to the Global ATM Alliance network of over 50,000 free overseas ATMs.  In addition, there’s access to the My Offers Hub, a rewards scheme offering discounts on major retail brands as well as gift cards and subscriptions.

A current offer available until the end of September 2022 offers $40 cash for new customers opening a Complete Freedom account, as long as $500 is deposited into the account within 30 days of opening it and five eligible purchases are made on a linked St.George Bank debit card in the first month. This offer is available to new customers in Australia who have never previously held a St.George Bank, Bank of Melbourne or BankSA account.

For young people aged between 12 and 14, a linked Freedom Card is offered instead of a Visa debit card, which is issued once a teenager reaches 15 years of age.  A concession account is offered to concession card holders, which waives the usual dishonour and overdrawn fees charged by the bank.

Retirees and pensioners aged over 55 can open a Retirement Access Plus account, which is a hybrid transaction and savings account offering interest which is split according to the account balance.  Up to $50,000 the interest rate is 0.05% p.a.  On the portion of your account over $50,001 up to $250,000, the interest rate is 0.10% p.a., and on any amount over $250,000, it’s 0.25% p.a.

Savings Accounts

St.George Bank’s main two savings accounts are an Incentive Saver account and a Maxi Saver account.  The Incentive Saver account has a base rate of 0.15% p.a. and a bonus rate of 0.10% p.a. if your account balance remains above $0 for the month and you grow your account balance by at least $50 in that month (if you’re aged over 21) or by at least a cent if you’re aged under 21.

The Maxi Saver account has a base rate of 0.05% p.a. but comes with a special offer of a 0.25% p.a. introductory rate for the first three months for new Maxi Saver customers.  To open a Maxi Saver account, you also need to have a linked everyday transaction account.  There aren’t any account-keeping fees for either of these savings accounts and no charge for teller-assisted enquiries at bank branches.

Term deposits

St.George Bank offers a wide range of term deposit options as you’d expect from one of Australia’s larger banks.  Terms range from one month up to five years, with an interest rate of 0.07% p.a. offered for a three-month term, 0.15% p.a. for a six-month term and 0.25% for a 12 to 24-month term with interest paid annually.  The highest interest rate on offer is 0.3% p.a. for a term over 24 months up to 60 months.  In terms of available balances, you can take out a term deposit for as little as $1,000 up to a maximum of $2 million.