Apex Savings Account — Product Guide¶
Product Disclosure Statement
Effective Date: January 15, 2026
Product Issuer: Apex Bank Ltd (ABN 12 345 678 901, AFSL 234567)
The Apex Savings Account is a flexible, high-interest savings product designed to help customers grow their money faster with a competitive bonus rate, no account-keeping fees, and complete freedom to access their funds when needed. Whether you are building an emergency fund, saving for a major purchase, or simply looking for a better return on your deposits, the Apex Savings Account delivers value without complexity.
Overview¶
The Apex Savings Account offers a tiered interest structure comprising a base rate available to all account holders and a bonus rate rewarded to customers who meet simple monthly conditions. Interest is calculated daily on the closing balance and credited to the account on the last business day of each month. There is no minimum balance requirement and no cap on the balance that earns the bonus rate.
Deposits held in the Apex Savings Account are protected by the Australian Government Deposit Guarantee (Financial Claims Scheme) for balances up to $250,000 per account holder, per authorised deposit-taking institution.
Key Features¶
- Base Interest Rate: 3.50% p.a., applied to all balances from $0 upwards with no minimum deposit required.
- Bonus Interest Rate: An additional +1.40% p.a. (total 4.90% p.a.) is applied when the account holder deposits at least $200 into the account each calendar month and makes no more than one withdrawal in the same month. The bonus rate is calculated and credited monthly.
- No Minimum Balance: Open the account with as little as $1. There is no minimum balance required to earn the base rate.
- Unlimited Withdrawals: While unlimited withdrawals are permitted without penalty, note that more than one withdrawal in a calendar month will result in the bonus rate not being applied for that month.
- Fee-Free: No monthly account-keeping fees, no transaction fees, and no fees for electronic transfers.
- Digital Access: Full account management through Apex Internet Banking and the Apex Mobile App, including instant transfers to linked Apex accounts, scheduled transfers, and real-time balance notifications.
- Joint Accounts Available: Open a joint Apex Savings Account with up to two account holders for shared savings goals.
Fees & Charges¶
| Fee Type | Amount | Notes |
|---|---|---|
| Monthly Account-Keeping Fee | $0 | No ongoing fees |
| Transaction Fees | $0 | Free electronic transfers and BPAY payments |
| Paper Statement Fee | $2.50 | Waived for customers using electronic statements |
| Bank Cheque Fee | $10 | Per cheque issued from the savings account |
| Dormant Account Fee | $5/month | Applied if no customer-initiated transaction occurs for 12 consecutive months |
| Account Closure Fee | $0 | No fee to close the account at any time |
Interest Rate Schedule¶
| Balance Tier | Base Rate (p.a.) | Bonus Rate (p.a.) | Total Rate (p.a.) |
|---|---|---|---|
| $0 - $250,000 | 3.50% | +1.40% | 4.90% |
| $250,001+ | 3.50% | +0.00% | 3.50% |
The bonus rate applies only to the portion of the balance up to $250,000. Balances exceeding $250,000 earn the base rate only. Interest rates are variable and subject to change. Apex Bank will provide at least 30 days' written notice before any rate reduction takes effect.
Eligibility¶
The Apex Savings Account is available to:
- Individuals aged 14 years and over (applicants under 18 require a parent or guardian as joint account holder).
- Australian citizens, permanent residents, and holders of eligible temporary visas.
- Existing Apex Bank customers and new customers alike — no requirement to hold another Apex product.
- Sole traders and individuals operating in their personal capacity (business and trust accounts are not eligible for this product).
How to Apply¶
- Open Online: Visit apexfinancial.company and complete the Apex Savings Account application in under 5 minutes. Existing Apex customers can open the account instantly through Internet Banking.
- Verify Your Identity: New customers will need to provide identification (driver's licence or passport) and a Tax File Number (TFN). Providing a TFN is not mandatory, but withholding tax at the highest marginal rate will apply to interest earned if a TFN is not quoted.
- Fund Your Account: Deposit funds via electronic transfer, BPAY, direct debit, or in-branch deposit. There is no minimum opening deposit.
- Set Up Automatic Transfers: Schedule a recurring monthly transfer from your Apex Everyday Account to ensure you meet the bonus rate conditions each month.
For further details, contact Apex Bank on 1300 273 956 or visit any Apex branch.
Related Resources
Apex Term Deposit — Product Guide
Product guide for the Apex Term Deposit offering competitive fixed interest rates across terms from 1 to 60 months, capital security backed by the government deposit guarantee, and flexible maturity options.
Apex Everyday Account — Product Guide
Complete guide to the Apex Everyday Account featuring zero monthly fees, Visa debit card, mobile wallet support, real-time notifications, and fee-free ATM access across the Apex network.