Set your savings
in motion

Having conditions on your savings account means to unlock a certain interest rate, you need to meet certain requirements. If you don’t meet those requirements, you're ‘penalised’ with a reduced rate on your account balance.

The most common condition on Australian savings accounts is depositing a minimum amount each month.

Another common condition is not making withdrawals, with is a significant barrier for Australian savers. Unplanned withdrawals are the number one barrier preventing savers from regularly achieving their bonus rate.

These conditions are taking their toll. Over 50% of savers feel worried or stressed trying to achieve their bonus rate and 25% found themselves regularly transferring funds between accounts to gain the highest interest rate they can.

Growing your savings, made simpler

While a majority of Australians want a savings account with no conditions, only 15% have one. Macquarie Bank customers, Geoff and Lianne, are two Australians who prefer saving, without jumping through hoops.

When it comes to their savings, meeting their lifestyle goals and managing the cost of living are important priorities for the pair, Lianne says.

“My savings are very important to me, especially now, when it can be hard to put money aside,” says Lianne. 

“No deposit conditions are a big plus, and every cent counts at the end of the day,” she adds.

When it comes to saving, Lianne also values simplicity in her banking experience, and ease of use.

“The Macquarie app is amazing. There’s so much information there at the touch of the button,” says Lianne.

“We get everything we need from Macquarie. It helps us move forward with our savings."