Our banking and savings accounts can help you take control of your money, giving you financial freedom today, tomorrow and in the future.

Savings accounts

Target Saver icon of an arrow hitting a target and a dollar sign.

Earn up to 5.25%p.a. variable rate with Target Saver

Maximise your savings! Earn up to 5.25%p.a. variable rate on every dollar saved, with no monthly account fees and no maximum deposit limit (Deposits over $5,000,000 are subject to acceptance at the bank’s discretion).

Earning bonus interest is easy. Each month, deposit a minimum of $1000 while making no withdrawals and you’ll earn the bonus 5.24%p.a. variable interest rate on top of your 0.01%p.a. variable base rate to super-charge your savings.

To qualify for your bonus interest, all you have to do each month is:

  • Deposit a minimum of $1000
  • Make no withdrawals
  • Keep a positive balance in your account at all times
  • Get savings savvy with our podcast series

    Join host, Alan Waugh, Chief Sales Officer at Health Professionals Bank, and financial coach Betsy Westcott. In our Better Money Management podcast series, we'll cover essential topics including budgeting, saving, and being credit healthy. 

    In this Savings episode, we talk about why saving is a key part of financial wellness, where we talk about the importance of saving goals/saving strategies and getting set for success with a savings plan.

    Savings accounts for every plan

    Take a look at our other savings accounts to find the one that best supports your financial needs and goals.

    • Online Savings account

      Convenient, easy-to-use bank accounts offering competitive interest rates.

      Learn more
      • $0 access fee
      • No minimum balance
      • Open an Online Savings account in a matter of minutes
    • Mighty Saver account

      Savings made simple for savers under 18 years of age at the time of account opening.

      Learn more

      • $0 access fee
      • No minimum balance
      • Certified responsible investment deposit product
    • Pension Advantage account

      Sensible savings for Australians receiving income from a government pension.

      Learn more

      • $0 access fee
      • No minimum balance
      • Avoid and minimise your fees
    • Edvest Cash Management account

      A classic savings account for those who want easy access to their money.

      Learn more

      • No minimum balance
      • Added benefits for Edvest members
      • $30 p.a. Edvest Membership charge

    If you haven’t joined Health Professionals Bank yet

    • tmb-logo Check you’re eligible for Membership.
    • +
    • tmb-logo Get the necessary documents together.
    • +
    • tmb-logo Complete an application in just 5 minutes.


    What do I need to open an account?

    Members can open a new bank account through Internet Banking. All we’ll need is a few ID documents, some personal details, and a few minutes of your time to fill out an application form.

    If you’re not a Member already, you’ll need to join first. You can find more information about becoming a member here.

    How can I deposit and withdraw funds?

    Health Professionals Bank offers a variety of ways to make transactions. You can deposit or withdraw funds via Internet Banking, our Mobile Banking App, through your Mobile Wallet or PayID4, 5, in one of our branches, or at one of more than 10,000 fee-free ATMs nationwide.

    Can’t find the answers you’re looking for? Read all our FAQs in our Help Centre.


    Health Professionals Bank Security Promise

    Our commitment to you

    Our Security Promise is your guarantee we are working around the clock to protect you, your identity and your money. This includes repaying money lost to fraud so long as you’ve complied with our terms and conditions and haven’t contributed to the loss.

    Tools and resources

    Tools and resources