Bendigo Bank Savings Accounts

Bendigo Bank has a long history of providing outstanding wealth management and banking services for its customers. Headquartered in a city in central Victoria named Bendigo, Bendigo Bank is an exception to most other banks in the country in that it is not based in a capital city. They are however renowned for their community centric approach to retail banking, and have made a name for themselves in providing innovative banking solutions that first and foremost take the needs of their customers into account. Since it’s early beginnings in 1858 as a fixed term building society, Bendigo bank has expanded to over 900 outlets and has firmly established itself as one of the most reputable financial institutions in Australia.

There is a distinguished line of Bendigo Bank Savings Accounts offered, ranging from the needs of the youngest investor to retirees and pensioners. Here is a snapshot of all the types of savings accounts on offer from Bendigo Bank.

A great savings account option for individuals looking for an uncomplicated way of saving. The Achiever Passbook account comes with very low minimum balance requirements and allows the use of cheques to account-holders. The interest rate is compounded daily and applied to the account every month. This account also comes with the benefit of online banking and phone banking. You may use either of the above methods to conduct BPAY transactions, as well as Automatic Payments, Telegraphic Transfers, and Funds Availability any time. The simplicity of the passbook account means that your funds remain safe and your banking remains inconvenient

Targeted to retirees and pensioners, this account provides some innovative solutions to the financial needs of the group of individuals aged 55 and above. If you are entering your retirement years, you can let your hard earned retirement funds continue to grow by taking advantage a competitive interest rate of 4.50% p.a on savings over $42,000

If you are simply looking for a traditional savings account that offers some great interest rates and associated banking features, the Classic passbook account might fit the bill. If your saving for an end of year vacation or accumulating funds to cover Christmas costs, the Classic passbook account provides a stress-free way to earn high interest and enjoy the convenience of at-call access.

Geared toward the shareholders of the bank (either direct shareholders or owners of convertible notes) this a special savings account that features the same rock solid stability of Bendigo Bank Savings Accounts while providing some extra benefits to shareholders. If you have a personal shareholding of 500 or more you can start a Shareholder Passbook account for a very low start-up cost and enjoy having interest calculated daily interest calculated daily.

One of the more innovative savings products is this Piggy Bank passbook account which is targeted towards customers aged 13 years and below. This is in recognition of the fact that children need to understand and appreciate the importance of banking from an early age. To ease the education process parents can elect to have their child operate their own account which has minimal balance requirements and pays a fixed interest rate compounded daily. Parents can also use this account to conduct regular transactions such as BPAY and others.

With such a great range of savings accounts on offer, Bendigo Bank truly does offer savings products tailored to meet the unique needs of a great range of customers. Consider your own financial situation and spending habits so you can find the best account for your