Need a Bank Account?
Everyday Access Accounts
This everyday account provides all of our access facilities for easy access to your money, plus you can apply for an Overdraft to ensure you'll never get caught out.
Interest Rate:
- $1+ | 0.03% pa
Great News:
- No monthly fee
- No minimum amounts
- Funds available at call
- Interest calculated daily
- Interest paid monthly
Access money in person via:
- ATM
- eftpos
- Visa Debit Card
- Australia Post
- Apple, Google and Samsung Pay
Access money online via:
- Direct debits and credits
- Internet banking
- Easy App mobile banking
- Periodic Payments
- BPAY®
- Osko real time payments
- Pay ID
Budget Saver will give you peace of mind. It will ensure you always have enough money to cover your bills throughout the year.
3 easy steps to set up
- Complete the Budget Saver Application, including the Budget Expense Schedule
- We set up the account, work out your monthly deposit and the Overdraft required*
- Use the account to pay your bills and expenses via BPAY, direct debit and Online Banking
Interest Rate
- $1+ | 0.03% pa
Great News:
- No monthly or annual fees
- No minimum balance
- Funds available anytime
- Interest calculated daily and paid monthly
- Overdraft facility
Access money in person via:
- ATM
- eftpos
- Visa Debit Card
- Australia Post
- Apple, Google and Samsung Pay
Access your money online via:
- Direct debits and credits
- Internet banking
- Easy App mobile banking
- Periodic Payments
- BPAY®
- Osko real time payments
- Pay ID
The Retirement Access Saver is a full service transaction account, designed exclusively for members aged 65 and over and those holding a valid Government pension card.
Interest Rates:
- $1 - $50,000 | 0.05% pa
- Portion $50,000 - $1m | 0.30% pa
Great News:
- No monthly or annual fees
- No minimum balance
- Funds available anytime
- Interest calculated daily and paid monthly
Access money online via:
- Direct debits and credits
- Internet banking
- Easy App mobile banking
- Periodic payments
- BPAY®
- Osko real time payments
- Pay ID
Access money in person via:
- ATM
- eftpos
- Visa Debit Card
- Australia Post
- Apple, Google and Samsung Pay
From an early age we all have goals. It might be to save up for a car or buy a mobile phone.
At First Option we believe it’s important to learn money management skills from an early age. That’s why we created the Smart Start Access Saver - designed especially for members aged 13 to 24 years
Interest Rate:
- $1+ | 0.75% pa
Great News:
- No monthly fee
- No minimum amounts
- Funds available at call
- Interest calculated daily
- Interest paid monthly
Access money in person via:
- ATM
- eftpos
- Visa Debit Card
- Australia Post
- Apple, Google and Samsung Pay
Access money online via:
- Direct debits and credits
- Internet banking
- Easy App mobile banking
- Periodic payments
- BPAY®
- Osko real time payments
- Pay ID
A First Option Mortgage Offset account is your everyday account that helps you manage your money and reduces the amount of interest you pay on your Home or Investment Loan.
100% Offset. How does it work?
The Mortgage Offset account balance is “offset” against your Home or Investment loan balance, with interest being calculated on the difference. For example, if you have a home loan balance of $200,000 and you have $10,000 in your Offset Account, you will only pay interest on a home loan balance of $190,000.
Great News:
- No monthly or annual fees
- No minimum balance
- Funds available anytime
Access money in person via:
- ATM
- eftpos
- Visa Debit Card
- Australia Post
- Apple Pay, Google Pay and Samsung Pay
Access your money online via:
- Direct debits and credits
- Internet banking
- Easy App mobile banking
- Periodic payments
- BPAY®
- Osko real time payments
- Pay ID
Savings Accounts
This online savings account will help you earn maximum interest with a minimum of fuss.
Interest Rates:
- $1 - $1,999 | 0.05% pa
- Portion $2,000 - $1m | 0.35% pa
Great News:
- No monthly or annual fees
- No minimum balance
- Funds available anytime
- Interest calculated daily and paid monthly
Access money online via:
- Direct credits
- Internet banking
- Easy App mobile banking
- Periodic payments
- BPAY®
- Osko real time payments
- Pay ID
The multi-award winning First Option Kids Bonus Saver will encourage your children to develop a regular savings pattern. This will help them in later life by teaching them to save for the things they need.
* These rates apply when bonus conditions are met - a minimum deposit of $5.00 per month and no withdrawals during the month.
Interest Rate
- Interest Rates portion under $5,000
- Base Interest Rate: 0.15% pa
- Bonus Interest Rate: 1.75% pa
- Maximum Rate: 1.90% pa
- Interest Rates portion over $5,000
- Base rate: 0.15% pa
- Bonus rate: 0.15% pa
Max rate: 0.30% pa
Great News:
- No monthly or annual fees
- No minimum balance
- Funds available anytime
- Interest calculated daily and paid monthly
- Overdraft
Access money in person via:
- Australia Post
Access your money online via:
- Direct debit/credit
- Internet banking
- Easy App mobile banking
- Periodic payments
- BPAY®
- Osko real time payments
- Pay ID
Be ready for next Christmas. Automatically transfer funds to your Christmas Saver Account each pay period and earn good interest on your money. Limited access will ensure your funds are still there when Christmas comes around.
Interest Rate:
- $1+ | 0.30% pa
Great News:
- No monthly fee
- No minimum amounts
- From 1 Nov to 31 Jan each year
Access money online via:
- Direct credit
- Internet banking
- Easy App mobile banking
- Osko real time payments
- Pay ID
This account offers higher interest rates for the serious saver with some restrictions on accessing your funds to help you save.
Earn up to:
- $1 - $1,999 | 0.75% pa
- Portion $2,000 - $24,999 | 0.80% pa
- Portion $25,000 - $1,000,000 | 0.80% pa
(Rates when bonus interest of 0.75% is applied)
Great News:
- No monthly or annual fees
- No minimum balance
- Funds available anytime
- Interest calculated daily and paid monthly
Access money online via:
- Direct credit
- Internet banking
- Easy App mobile banking
- Periodic payments
- BPAY®
- Osko real time payments
- Pay ID
This account offers great at-call interest rates. This is an ideal account to deposit money from the sale of a car or house - or just for longer term money management.
Interest Rate
- $1 - $4,999 | 0.05% pa
- Portion $5,000 - $24,999 | 0.10% pa
- Portion $25,000 - $49,999 | 0.15% pa
- Portion $50,000 - $99,999 | 0.20% pa
- Portion $100,000 - $249,999 | 0.25% pa
- Portion $250,000 - $1,000,000 | 0.30% pa
Great News:
- No monthly or annual fees
- No minimum balance
- Funds available anytime
- Interest calculated daily and paid monthly
- Overdraft
Access money in person via:
- Australia Post
Access your money online via:
- Direct debits and credits
- Internet banking
- Easy App mobile banking
- Periodic payments
- BPAY®
- Osko real time payments
- Pay ID
Are you saving money for a special occasion or a treat? This account allows you to put money away on a regular basis to help you reach your goal sooner.
Interest Rate:
- $1+ | 0.05% pa
Great News:
- No monthly fee
- No minimum amounts
- Funds available at call
- Interest calculated daily
- Interest paid monthly
Access money online via:
- Direct debits and credits
- Internet banking
- Easy App mobile banking
- Periodic payments
- BPAY®
- Osko real time payments
- Pay ID
By setting up a GST / Tax Saver account, you will never find yourself short at tax or BAS time. Simply transfer your GST and Tax payment amounts to stay on top of your finances.
Interest Rates:
- $1+ | 0.10% pa
Great News:
- No monthly or annual fees
- No minimum balance
- Funds available anytime
- Interest calculated daily and paid monthly
Access money online via:
- Direct credit
- Internet banking
- Easy App mobile banking
- Periodic payments
- BPAY®
- Osko real time payments
- Pay ID
Investment Accounts
Do you have cash that you don't need to access immediately? If so, a Term Deposit is ideal for you. Choose your term and amount and watch your money grow.
Interest Rates:
| $5,000 - $24,999; 3 Month | 1.00% pa |
| $5,000 - $24,999; 6 Month | 1.00% pa |
| $5,000 - $24,999; 9 Month | 1.00% pa |
| $5,000 - $24,999; 12 Month | 1.00% pa |
| $5,000 - $24,999; 24 Month | 0.90% pa |
| $25,000 - $249,999; 3 Month | 1.20% pa |
| $25,000 - $249,999; 6 Month | 1.20% pa |
| $25,000 - $249,999; 9 Month | 1.20% pa |
| $25,000 - $249,999; 12 Month | 1.20% pa |
| $25,000 - $249,999; 24 Month | 1.00% pa |
| $250,000 - $1,000,000; 3 Month | 1.30% pa |
| $250,000 - $1,000,000; 6 Month | 1.30% pa |
| $250,000 - $1,000,000; 9 Month | 1.30% pa |
| $250,000 $1,000,000; 12 Month | 1.30% pa |
| $250,000 - $1,000,000; 24 Month | 1.10% pa |
Great News:
- Terms available from 3 months to 2 years
- Deposit as little as $5,000
- Lock your money away from temptation
- No Monthly Fees
Funds Available:
At Maturity
Interest Income
Calculated daily, paid at maturity or annually 24 months
Make your savings work harder for you while receiving regular interest payments. Choose your term and your interest payments will be transferred directly into a nominated savings account each month.
Interest Rate
| $25,000 - $249,999; 6 Month | 1.10% pa |
| $25,000 - $249,999; 12 Month | 1.00% pa |
| $25,000 - $249,999; 24 Month | 0.80% pa |
| $250,000 - $1,000,000; 6 Month | 1.20% pa |
| $250,000 $1,000,000; 12 Month | 1.10% pa |
| $250,000 - $1,000,000; 24 Month | 0.90% pa |
Great News:
- 6, 12 and 24 month terms available
- Monthly interest payments into your account
- No account keeping fees
Interest
- Calculated Daily, Paid Monthly