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RACQ Saver—RACQ Bank’s Bonus Saver Account—can pay a high tiered bonus rate, but only if you deposit at least $100 and make no debit transactions during each calendar month. As of the rate schedule effective 17 September 2026, that means 5.75% p.a. on qualifying daily closing balances up to $99,999 and 3.50% p.a. above that threshold. A debit means the base rate applies for that month, so the account suits savers who can leave their money untouched more than people who need frequent access.
There is an important date caveat: RACQ announced increases of up to 0.25% p.a. on selected at-call savings accounts from 13 October 2026, but did not identify whether Bonus Saver is included. Confirm the current rate with RACQ before opening or relying on these figures.
RACQ Saver rates and conditions
RACQ calls the product the Bonus Saver Account. Its published rate schedule, effective 17 September 2026, lists a 0.01% p.a. base rate and the following bonus rates. The bonus rate includes the base rate, and the applicable tier’s single rate applies to the whole daily closing balance—not as separate marginal rates on portions of the balance.
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| Daily closing balance | Base rate | Bonus rate if conditions are met |
|---|---|---|
| Up to $99,999 | 0.01% p.a. | 5.75% p.a. |
| Over $99,999 | 0.01% p.a. | 3.50% p.a. |
These are RACQ Bank figures effective 17 September 2026, not a guaranteed rate for the future. RACQ Bank’s Deposit Rate Schedule is the official source for the listed rates.
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How to qualify for bonus interest
During each calendar month, deposit at least $100 in total and make no debit transactions. If either condition is missed, the base rate applies for that month. The rules reward regular additions and a balance you can leave alone; they are not well suited to an emergency fund you expect to draw on often.
- Deposit: Add $100 or more in total during the calendar month.
- Withdrawals and other debits: Make none during that month if you want the bonus rate. A debit means the base rate applies for the month.
RACQ says interest is calculated daily and paid monthly. There is a timing detail at month-end: the interest for the final day of a month is assessed against whether you meet the conditions in the following month, and is paid with that following month’s interest. See the Bonus Saver Account terms for the product’s wording and conditions.
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Does RACQ Saver make sense for your savings?
The key question is whether you can reliably meet the monthly deposit hurdle without needing to take money out. The bonus rate can be attractive for a saver who can maintain that routine, but the base rate is only 0.01% p.a. in the schedule effective 17 September 2026. If a debit is likely, the bonus rate is not a dependable return for that month.
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RACQ’s eSave account offers a different trade-off: its savings overview lists 3.00% p.a. across the total balance, with online transfers that do not affect the rate. That rate is also shown as of 17 September 2026. It provides a clearer fit for someone who values transfer flexibility over Bonus Saver’s higher conditional rate; check the current rates and terms for both accounts before deciding.
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These are RACQ’s own product details, not a market-wide comparison or a guarantee that either account is the best available. The RACQ savings accounts page sets out its eSave and other savings options.
Fees, eligibility and application
RACQ lists no minimum opening or ongoing balance, a $0 monthly account-keeping fee, and $0 fees for internet transfers and direct credits. Those are the specified fees, not a promise that every possible service is free; other fees and terms may apply. Review the account disclosures and fee information before applying.
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The account page lists these eligibility requirements:
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- A Queensland residential address.
- An Australian driver licence or passport.
- An Australian mobile number.
Online applications are for adults aged 18 or older. Applicants aged 13–17 must apply by phone or at an RACQ store.
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- PU Leather Binder:Cash binder has attractive double-colors cover,Premium PU leather A6 binder has many hidden compartments and pen hoops,which is convenient for storing pen, passports, ID cards, bank cards.
- Binder Pockets:8PCS A6 zipper cash envelope made from superior material. It is resists tearing and acid-free which can protect your items from water and dust.As cash envelopes is convenient for storing money, cards, stamps, tickets, pens.
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- Easy to Carry:A6 Binder Budget Envelopes System fits in your handbag, backpack,suitcase or desk;A6 ring binder suitable for all standard A6 size inner pages.
Rate-change notice: check after 13 October 2026
On 30 September 2026, RACQ announced that rates on selected at-call savings accounts would rise by up to 0.25% p.a. effective 13 October 2026. The announcement does not name the affected accounts or give a new Bonus Saver rate, so it does not establish whether this account’s rate will change. Check the current product page or rate schedule after that date rather than assuming the 17 September figures still apply. Read RACQ’s rate-change announcement.
What to verify before opening
- Confirm the current base and bonus rates, balance tiers, and effective date in RACQ’s latest schedule.
- Check that the $100 monthly deposit and no-debit conditions suit how you expect to use the account.
- Read the product terms and fee schedule for charges or conditions beyond the specified fees above.
- Compare the current eSave rate if access through online transfers matters more than qualifying for a bonus.
RACQ identifies Members Banking Group Limited, trading as RACQ Bank, as issuer of its banking products. Its product information is general and does not consider an individual’s objectives, circumstances, or needs.
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