Deposit Account rates update
Our response to the RBA’s cash rate announcement.
Interest rate changes
Dated: 10th November 2023
Following the Reserve Bank of Australia’s decision to increase the official cash rate, St.George has announced changes to our deposit account interest rates.
All new rates are effective 17th November 2023.
| Incentive Saver | |||
|---|---|---|---|
| Balance tier | Rates | Current rate (p.a.) | New rate (p.a.) |
| Entire account balance | Standard variable rate | 1.85% p.a. | 1.85% p.a. |
| Total account balance below $250k | Bonus variable rate1 |
3.15% p.a. | 3.30% p.a. |
| Total variable rate with online bonus (0.10% p.a.) for new customers2 | 5.10% p.a | 5.25% p.a. | |
| Total account balance >= $250k | Bonus variable rate1 | 3.00% p.a. | 3.15% p.a. |
| Total variable rate with online bonus (0.10% p.a.) for new customers2 | 4.95% p.a. | 5.10% p.a. |
| Maxi Saver | Current rate (p.a.) | New rate (p.a.) |
|---|---|---|
| Standard variable rate | 1.10% p.a. | 1.10% p.a. |
| 3 month introductory fixed rate3 | 3.90% p.a. | 3.90% p.a. |
| 3 month online bonus rate | 0.10% p.a. | 0.35% p.a. |
| Total variable rate with online bonus for new customers4 | 5.10% p.a. | 5.35% p.a. |
New Term Deposit Special rate is effective 10th November 2023.
| Term Deposit | Current rate (p.a.) | New rate (p.a.) |
|---|---|---|
| 12-23 month special5 | 4.75% p.a. | 5.00% p.a. |
| Online bonus6 | 0.10% p.a. | 0.10% p.a. |
| 12-23 month special with online bonus7 | 4.85% p.a. | 5.10% p.a. |
For all current rates on our other deposit products, find out more.
Important information
Internet Banking and Phone Banking Terms and Conditions (PDF 708KB)
Before making a decision about any of our products or services, please read all the terms and conditions and consider whether the product or service is right for you. Fees and charges apply and may change.
1. Incentive Saver Bonus Interest: To meet bonus interest criteria you are required to grow your account by at least $50 a month (for customers 21 or over) or $0.01 a month (for customers under 21) and your account balance can not fall below $0. The eligibility calculation will occur by 11:59pm on the last business day of the month. The variable bonus interest rate applied will differ if your total closing daily balance is $250,000 and above. The rate will be calculated on the daily closing balance of your account at the end of each day.
2. Incentive Saver Online Bonus: Online bonus offer available from 17/11/2023 for the first 3 months on your bonus variable rate when you open online. For a limited time only. New Incentive Saver customers only, excluding joint accounts. Offer may be varied or withdrawn at any time.
If you are experiencing digital/online accessibility issues, please talk to us.
3. Maxi Saver Bonus Interest: If you open a Maxi Saver account and you have not held an Maxi Saver Account before and you are a personal customer, you'll earn an Introductory Fixed Rate on top of the standard variable interest rates (standard base rate and bonus rate when the bonus rate criteria is met) during the Promotional Rate Period. The Promotional Rate Period is the first 3 months from the date your account is opened. Standard variable rate will apply to all Maxi Saver accounts.
4. Maxi Saver Online Bonus: Online bonus offer available from 26/07/2024 for a limited time only. Only available for new Maxi Saver accounts opened online by applicants who have never held a Maxi Saver account before.
If you are experiencing digital/online accessibility issues, please talk to us.
5. Term Deposit Special Offer:
Existing St.George personal and sole trader customers taking up a Special Offer Term Deposit.
Opened or renewed during the grace period via Internet Banking, the App or by talking to us. Not available in Business Banking Online.
Not available for Financial Institutions or Government customers.
For renewing Term Deposits, customer-initiated instructions must be provided in the grace period.
We reserve the right to withdraw, amend or extend the offer at any time.
Rate and offer apply for a single term.
Higher or lower rates may apply for subsequent terms.
You must provide a minimum of 31 days’ notice to access funds prior to maturity (except in cases of hardship).
If the deposit or any part of it is withdrawn early, an interest rate adjustment will usually apply.
6. Term Deposit Online Bonus Offer:
Term Deposits opened or renewed during the grace period via Internet Banking or the App only. Not available in Business Banking Online.
The bonus offer will be applied in conjunction with any other rate offer that may apply.
Not available for customers who are not able to open or renew via Internet Banking (e.g., some joint accounts), business customers except sole traders or Term Deposits held as security.
For renewing Term Deposits, customer-initiated instructions must be provided in the grace period.
We reserve the right to withdraw, amend or extend the offer at any time.
Rate and offer apply for a single term.
Higher or lower rates may apply for subsequent terms.
You must provide a minimum of 31 days’ notice to access funds prior to maturity (except in cases of hardship).
If the deposit or any part of it is withdrawn early, an interest rate adjustment will usually apply.
If you are experiencing digital/online accessibility issues, please talk to us.
7. Term Deposit Special Online Bonus Offer with Online Bonus Offer:
Term Deposits of $1,000-$5,000,000 on Terms of 6 months or 12 to 23 months. Interest payment frequency options available at application.
Opened or renewed during the grace period by existing St.George personal and sole trader customers via Internet Banking or the App. Not available in Business Banking Online.
Not available for customers who are not able to open or renew via Internet Banking (e.g., some joint accounts), business customers except sole traders or Term Deposits held as security.
Not available for Financial Institutions or Government customers.
For renewing Term Deposits, customer-initiated instructions must be provided in the grace period.
We reserve the right to withdraw, amend or extend these offers at any time.
Offers apply for a single term.
Higher or lower rates may apply for subsequent terms.
You must provide a minimum of 31 days’ notice to access funds prior to maturity (except in cases of hardship).
If the deposit or any part of it is withdrawn early, an interest rate adjustment will usually apply.
If you are experiencing digital/online accessibility issues, please talk to us.