Bonus Interest Saver Calculator
Compare the interest earned on an Australian bonus saver account when conditions are met against the lower base rate when they are not.
Your results
Calculation breakdown
- Total rate
- Total rate = base rate + bonus rate (when conditions are met)
- Shortfall
- Cost of missing bonus = balance × bonus rate
Worked example
On a $10,000 balance with a 0.5% base rate and 4.5% bonus, meeting conditions earns $500 a year versus just $50 at the base rate alone — a $450 annual difference.
Assumptions
- Assumes the balance stays constant across the year for simplicity.
- Bonus rate conditions vary by bank; check your provider's specific terms.
How this calculator works
Many Australian savings accounts pay a low base rate plus a much higher bonus rate if you meet monthly conditions such as growing your balance or making a set number of card purchases. This calculator compares the annual interest earned with and without the bonus rate so you can see exactly what missing conditions costs you.
Frequently asked questions
What counts as a bonus condition?
Common conditions include depositing a minimum amount monthly, growing your balance, or a set number of eligible transactions; check your provider's terms.
What happens if I miss the conditions one month?
Most accounts revert to the lower base rate for that month only, which this calculator quantifies as an interest shortfall.
Should I chase bonus interest across multiple banks?
It can add up, but weigh the extra admin and condition risk against the interest gained; sometimes a simple high base-rate account is easier.
Results are estimates only and are not financial, tax, legal or credit advice.