Changes to Savings Accelerator.
We're changing how interest works on the Savings Accelerator, including making changes to how interest is calculated, balance tiers, and interest rates.
Examples of how stepped interest rates will work for different account balances
Example - $100,000 account balance
In this example, a balance of $100,000 earns the Tier 1 rate. Only one rate applies because the account balance falls into the Tier 1 balance tier only.
Example - $550,000 account balance
In this example, a balance of $100,000 earns the Tier 1 rate. Only one rate applies because the account balance falls into the Tier 1 balance tier only.
Example - $2,100,000 account balance
In this example, a balance of $2,100,000 earns the Tier 1 rate on the first $250,000, the Tier 2 rate on the next $250,000, the Tier 3 rate on the next $1,500,000, and the Tier 4 rate on the remaining $100,000. More than one rate applies because the account balance falls into multiple balance tiers.
All numbers in the examples above have been rounded to the nearest dollar for simplicity.
Frequently asked questions
We're changing how you earn interest on the Savings Accelerator.
Today, one interest rate applies to your whole balance based on the tier that your account balance sits in.
From 1 May 2026, we are switching to stepped interest rates, which means that different interest rates may apply to different portions of your account balance. Because of this, more than one rate can apply to your account at the same time.
We're also making the top rate in Savings Accelerator available to more customers by having the same, high rate across Tiers 1, 2 and 3, and then a lower rate for portions of balances >$2m in the form of a new tier, Tier 4.
Interest will be calculated daily on the portion of your account balance in each balance tier, using the applicable rate for that balance tier. Please note that some tiers may have the same interest rate - they do not have to be different. For more information, you may also refer to the examples above.
Interest is calculated daily based on your daily account balance. This means your interest will be calculated accordingly even if you move between tiers. At the end of the month, the interest earned each day is added up and the total is paid into your SA account.
No. Interest will continue to be calculated daily and paid monthly.
No. Savings Accelerator will continue to pay variable interest without the need for you to satisfy criteria.
These changes mean more customers will be earning the top rate available in Savings Accelerator on balances up to $2m, while also allowing flexibility for potential future changes to be made carefully rather than affecting large parts of your savings at once.
No. The kick starter rate you received at the time you opened your Savings Accelerator account will remain the same until it expires. Your kick starter rate and expiry date can be found in the email we sent you at the time you opened your Savings Accelerator account.
These emails were sent over several days starting on 26 March 2026, so you may be yet to receive it. In the meantime, you can download the full Notice of Change here.
If it's been more than a week since 26 March 2026, check if we have your email address recorded correctly:
- In the app, by navigating to the three lines in the top left hand corner, clicking on 'My profile', and clicking 'Edit Details'. If your email address is missing or not correctly recorded, you can add or replace the email address as required and then click 'Save'.
- In online banking, by navigating to 'My Profile' on the left hand side, 'My contact details' and clicking 'Edit'. If your email address is missing or not correctly recorded, you can add or replace the email address as required and then click 'Save'.
If you had to add your email address because it was missing, we will have issued you a Message instead which you can view:
- In the app by navigating to the same three lines and clicking 'Messages'.
- In online banking, by navigating to 'Messages' on the left hand side.
No, no other products are impacted.
If both your Savings Maximiser and Savings Accelerator accounts are linked to an Orange Everyday account or the same bank account with another Australian financial institution, this can be done via:
- The app, by navigating to the Savings Maximiser account, clicking 'Pay', 'Transfer', tapping the plus symbol, selecting the Savings Accelerator account, entering the amount to transfer and then clicking 'Transfer'.
- Online banking, by clicking 'Transfer & pay' on the left hand side, clicking 'Between my accounts', filling out the details and clicking 'Transfer'.
If both your Savings Maximiser and Savings Accelerator accounts are linked to different accounts, then you will first need to transfer from Savings Maximiser to the linked account, and then from the linked account to Savings Accelerator.