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Earn up to 3.50 % p.a. Interest rate

Internet Saver bonus rate promotion

Ready to maximise your returns? Make success yours with our Internet Saver Business account and achieve your growth goals sooner.

Existing and new account holders can earn bonus interest on each new to bank deposit for 90 days made between 1 June and 31 August 2025.

Earn interest at 3.50% p.a.1

1.50% p.a.1 base interest rate + 2.00% p.a.1 bonus interest rate

Bonus interest is paid on new to bank money only. If no new money is deposited during the promotional period, only the base interest rate will apply. Withdrawals made during the promotional period will affect the bonus interest paid.

So, what are the perks?

Features, Rates and Further Information

Product Features:

Business Banking
Minimum opening balance : $0
Internet banking : Yes
The Mutual App : Yes
Mutual alerts : Available
Interest : Calculated daily, paid monthly
Staff assisted transactions : Branch and Contact Centre
Tier Interest rate
Up to $5,000 1.50% p.a.  1
$5,000 and over 1.50% p.a.

Money management tools

Want to plan ahead with confidence? Our easy-to-use calculators can help you set savings goals and keep track of your spending, so you stay in control of your finances.

View all our online calculators

Business solutions for you

You're gonna love us

The Mutual Bank has been supporting regional communities with trusted banking for over 135 years

We’re proudly customer owned, which means we exist to benefit you. Not external shareholders. Whether you're opening your first account or planning for the future, we’re here with genuine service, great-value products and the kind of care only a mutual can offer.

Frequently Asked Questions

Between 1 June 2025 and 31 August 2025, we will be running a “New Money Bonus Interest Rate” promotion. The promotion applies to the Internet Saver and Internet Saver Business accounts only. 

During these dates, existing and new account holders have the opportunity to earn a bonus rate when they deposit money that is new to the bank. 

This means money that has come from an external source and not an internal transfer between your other accounts you hold with The Mutual Bank. The Bonus interest rate will be paid for 90 days on each deposit made. 

The bonus interest rate is 2%. Each time a Member makes a new money deposit they will receive bonus interest for 90 days on each deposit not the entire account balance. For example, if they make a new money deposit on the 1 June 2025, they will receive bonus interest on that deposit for 90 days. If they make a deposit on 31 August 2025 they will receive bonus interest for 90 days on that deposit. Bonus interest is calculated daily and paid monthly. 

No. The bonus interest will be paid on the whole amount of new money deposited.  

If you make a deposit which is considered new money, the withdrawal amount will be first deducted against the first new money amount deposited and then the next and so forth until the total withdrawn amount has been deducted. 

Please note, that when a withdrawal is made and taken against a new money deposit, the bonus interest will be applied on the new amount not on the original deposited amount from that date forward. For example, John deposits $30,000 on 1 June. On 10 June John withdraws $10,000. John will receive 2% bonus interest on the $30,000 up until the $10,000 withdrawal, and then they will receive 2% bonus interest on the $20,000 until the 90 days interest period is finished (unless John does another withdrawal and the same process will occur.) 

Looking for something else?

View and compare our Business Savings Accounts

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  • 1

    Tiered interest rates apply: Different interest rates may apply to different portions of account balances. Fees and charges may apply.  Bonus rate promotion: Earn 3.50% p.a. interest by depositing new money to The Mutual Bank (excluding funds you currently have in existing accounts) between 1 June 2025 to 31 August 2025. Bonus Interest of 2.00% p.a. applies for 90 days from the date of each deposit of new money, less withdrawals made, during the promotional period, in addition to the base rate of 1.50% p.a. Interest rates are subject to change.  We have not considered your personal objectives, financial situation, or needs.  Please consider the PDS & TMD before deciding to acquire a product.