Go further, faster with your RACQ Bank online savings account

Whether you’re saving for this Christmas, that car, or the home of your dreams, our card-free eSave Account simplifies staying on track. Move money where you need it most, inject funds when you can, or sit back and save on autopilot. We’re here to help you make the most of your money.

  • Earn interest on the total balance of the account
  • Your interest is calculated daily and paid monthly
  • Get unlimited deposits and withdrawals without affecting your interest rate

Open your account

eSave Account fees

You can see a full list of eSave Account fees in our Fees and Charges Schedule. Or, take a look at our Deposit Rate Schedule for more info on rates.

Fee  Amount
Transaction fees for internet transfers and direct credits
$0
Monthly account keeping fees
  $0

3.00% p.a. interest rate

on the total balance of the account

Opening your online savings account is easy

It’s easy to switch to RACQ Bank using your computer or smart phone. It takes only a few minutes to submit your application online:

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    Fill in your online application and complete your identity check 
    Open your account
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    If you have nominated a second applicant they will be sent their invitation to complete their application and identity check also
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    Once your application is submitted we will open your account and send you a text message and email with your account details

Who can open an RACQ Bank online savings account?

To open your eSave Account online, you simply need to:

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    Be aged 18 years or over
    Under 18? Phone us on 13 1905 or visit us.
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    Have a Queensland residential address
    RACQ Bank is proudly run for Queenslanders.
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    Have an Australian mobile phone number
    Bank securely and track your savings on-the-go with the RACQ Bank app.
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    Have an Australian driver licence or Australian passport
    Photograph your ID and we’ll verify your documents online.

While you're here

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Transaction accounts
Explore options for everyone, every day, everwhere
Learn more
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Term deposits
Get hands-free savings with a locked-in return.
Learn more
calculator
Savings and term deposit calculator
Plan how you'll use the interest you earn.
Use calculator

Why make the switch to RACQ Bank?

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    No everyday transaction fees
    Spend your hard-earned cash on the things you love.
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    Bank safely with RACQ Bank

    Feel secure knowing we use leading safety protocols.

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    We already protect your car and home

    Let us show you the member banking difference.

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    Unlock instant member benefits

    Explore dozens of discounts we’ve got waiting for you.

Tap into RACQ member discounts today~~

Wallet clipped
Save on the essentials every week
Enjoy a 4% discount on pre-purchased Woolworths Supermarket eGift Cards.
Learn more
fuel-pump
Free up your transport budget
Take 4 cents per litre off when you fill up at participating Caltex service stations.#
Learn more
tickets
Treat yourself to a little entertainment
Save on eVouchers and eGift Cards for Event Cinemas and BCC Cinemas Queensland-wide.
Learn more
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Food and Dining
Save like only members can with food and dining discounts at more than 300 locations across Queensland.
Learn more

Contact us

Need help or would like to know more? RACQ Bank offers many convenient ways for you to get in touch with us.

eSave Account FAQs

Help centre

Tips and guides

Things to note

Banking and loan products issued by Members Banking Group Limited ABN 83 087 651 054 AFSL/Australian credit licence 241195 trading as RACQ Bank. Terms, conditions, fees, charges and lending policies apply. This is general advice only and may not be right for you. This information does not take your personal objectives, circumstances or needs into account. Read the disclosure documents for your selected product or service, including the Financial Services Guide and the Terms and Conditions, and consider if appropriate for you before deciding.

Except for RACQ Bank, any RACQ entity referred to on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Cth). That entity’s obligations do not represent deposits or other liabilities of RACQ Bank. RACQ Bank does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.

Interest rates on a per annum basis and are current as at 1 November 2024 and subject to change at any time.

You can only create a PayID within mobile or internet banking by linking it to an eligible account. Not available on some accounts. Please read the Mobile and Internet Banking Terms and Conditions for more information.

Biometric identification features are compatible with selected devices only, noting that some devices may not be able to use particular biometric identification methods. For Android, selected biometric features should be available on devices with android v 4.4 or greater, provided that feature is available in device. For iOS device, any device that is running with IOS version 9, 10 or 11 (or greater), provided that feature is available in device.

~~ Terms and conditions apply to all offers. View the individual offer for full details. Offer is subject to availability and may be withdrawn at any time without notice.

#Conditions apply. Offer available at participating Caltex and Puma Energy service stations. Visit racq.com/caltex for details.