St.George Maxi Saver Review (2026)
Rates and conditions verified 24 May 2026
Rates can change without notice. Last verified: 24 May 2026 (AEST). Please confirm details on the bank’s official page.
Intro rate
5.35%
p.a. for first 6 months
Ongoing rate
~1.70%
p.a. after intro period
Monthly fee
$0
on the Maxi Saver
About St.George Maxi Saver
The St.George Maxi Saver is an introductory savings account offering 5.35% p.a. for the first 6 months for new customers. The headline rate is made up of three components: a 3.65% p.a. fixed introductory rate, a 0.45% p.a. online bonus rate, and the 1.25% p.a. standard variable rate.
Important: After the 6-month introductory period, the 3.65% fixed component expires and the rate drops sharply to approximately 1.70% p.a. If you are looking for a competitive ongoing rate, you should plan to either switch accounts or move funds after the intro period ends.
St.George is a division of Westpac Banking Corporation, not an independent bank. You must hold an eligible St.George transaction account (such as Complete Freedom) to open a Maxi Saver. Deposits are covered by the government deposit guarantee up to $250,000.
Interest Rate Breakdown
| Period | Rate | Components |
|---|---|---|
| First 6 months | 5.35% p.a. | 3.65% fixed intro + 0.45% online bonus + 1.25% standard variable |
| After 6 months | ~1.70% p.a. | 0.45% online bonus + 1.25% standard variable (intro expires) |
Variable rates subject to change — check St.George's website for current rates before applying.
Pros and Cons
Pros
- ✓ 5.35% p.a. intro rate is competitive for a bank-brand product
- ✓ No conditions to meet during the intro period — just keep a positive balance
- ✓ No account-keeping fee on the Maxi Saver
- ✓ Unlimited online access to funds
- ✓ Government deposit guarantee up to $250,000
Cons
- ✗ Rate drops sharply to ~1.70% p.a. after 6 months
- ✗ Requires a St.George transaction account
- ✗ Intro rate is for new customers only — not available on rollover
- ✗ Ongoing rate well below Rabobank (4.00%), ubank (5.10%), and others
How It Compares
- Rabobank HISA: 5.90% intro (4m), then 4.00% ongoing — better long-term rate
- ubank Save: 5.85% intro, then 5.10% ongoing — far better after intro
- Macquarie Savings: 5.10% intro (4m), then 4.75% ongoing — better ongoing
- St.George Maxi Saver: 5.35% intro (6m), then ~1.70% — intro only
- ING Savings Maximiser: 5.50% ongoing (with conditions) — better for long-term
The Maxi Saver is best suited to short-term savings parking over 6 months. For ongoing savings, accounts like Rabobank, ubank, or Macquarie offer far better rates after the introductory period.
Information verified 24 May 2026. Rates variable and subject to change. Confirm current rates and conditions on St.George's website before applying. This is not financial advice.