The most important differentiation is the difference between a transaction account - the one you use for every day expenses, and a savings account – where you want to add funds to regularly, not make withdrawals, and see grow over time. There are three main steps to choosing the best savings account which we've outlined in this infographic.
Depending on your savings goals, Heritage has a range of savings accounts for you that are simple to set-up, provide quick access to your funds and are seamless to manage. Our savings accounts have no set-up or account keeping fees^.
One of our popular accounts is the Online Saver savings account. This account makes it easy access to your funds online with a great interest rate from the very first dollar. You can set up a regular transfer or transfer savings yourself each pay, and if you have to withdraw your savings you can do so at any time. Learn more about our Online Saver account.
If you’re looking for a savings account that encourages you to save each month, then the Target Bonus account could be for you. The Target Bonus saver offers all of the benefits online access with a bonus interest rate for savers who need a little extra incentive to not touch their funds month-to-month. Learn more about our Target Bonus account.
If you already have $1,000 or more in your savings, you could consider a term deposit. A term deposit gives you a fixed interest rate for a nominated time of 1 month to 5 years. This means you’ll know exactly what your investment is worth ahead of time. Learn more about our Term Deposits.
We know that the wide choice of savings accounts from many financial institutions can get confusing. If you're still unsure, the best step to take is to talk to a financial adviser, or contact your bank so they can provide you the information you need to choose an account for you.
Whatever your goals are to grow your savings, Heritage is here to help. Applying for a savings account can be done easily online within minutes