Save Account

A hassle-free savings account with a great intro rate.

4.60%p.a.

Fixed intro rate for 4 months
on balances up to $250,000

2.80%p.a.

Variable ongoing rate

Why Save with First Option?

High Interest

Earn 4.60% p.a. for the first 4 months
No minimum Balance
No monthly deposit or withdrawal required

Online Access

Access your money at any time via
Internet Banking an
The First Option mobile app

Security

Your money is safe with us and managed with the utmost care. We have the same safeguards as all banks to protect you and your money.

Simple and Easy Online Savings 

Unlike other high interest savings accounts, the First Option Save Account doesn't come with a list of conditions for earning interest. We don’t ask our members to jump through hoops to meet additional requirements every month to keep earning our high savings rates.

The First Option Save Account has:

  • No monthly spend requirements to earn our great rate.
  • No minimum monthly deposit requirements.
  • No monthly account fees.
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Open your Save account today

To open an account with First Option, you will first need to become a member.

Enquire now and our team will be in touch to get you started.

Enquire Now

Interest Rates

Balance First 4 Months Ongoing 
$0 - $250,000 4.60% fixed  2.80% variable
$250,000+ 2.80% variable 2.80% variable

Fees

Fee Type Amount
Monthly Account Fee $0
Online Transaction Fees $0
Staff Assisted Transfer Fee $0
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Terms & Conditions

  • All ongoing interest rates are variable and current as of 22 October 2025. All variable rates are subject to change.
  • Where you haven’t held a First Option Save Account before, the introductory rate applies for four months from account opening. The four-month welcome rate period is 4 calendar months inclusive of the account opening date. Interest is credited to your Account at the end of a calendar month and on the day that the Account is closed.
  • The introductory rate applies instead of (not in addition to), the standard variable rate that would otherwise apply to that portion of the balance of your Savings Account. There are no withdrawal or deposit conditions to receive the welcome rate.
  • After four months, the standard variable interest rates apply to your Save Account balance. You can find out more about our current interest rates on our website.
  • The introductory rate is fixed and will not change during the four-month period. The introductory rate and any other bonus offer may be removed or varied by us at any time. Offer available on one Save Account per person (whether the Account is in single or joint names). For example, if you receive the introductory rate on a joint account, you won’t be eligible to receive the rate again on an individual account.
  • *Terms, conditions, fees and charges may apply. Any advice or information provided in this message (or any of its attachments) does not take into account your personal objectives, financial situation or needs and you should consider whether it is appropriate for you. You should read and consider the ‘Account and Access Facility – Conditions of Use’ document and Financial Services Guide before deciding whether to acquire any product or service. Monthly membership fees are not charged to members with an average monthly account balance of $1,000, those with an active loan or credit card, those aged 21 and under and new members (for the first 3 months) or Business Members. Target Market Determination document available on request, contact [email protected] to request a copy.

 

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