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Spring Load Feature

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savings to work

Name: Bank of us
Address: 87 Brisbane Street, Launceston, TAS, 7250, AU
Telephone: 1300 306 716
Price range: $

Earn

for up to 4 months with a Spring Load account.

Deposit $25K or more in new money
Access when you need it (Max 5 withdrawals/transfers per month)
Tasmanian residents only.

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Choosing the right short-term high interest savings account can help build financial confidence, so you are ready for what comes next.

Whether you’re planning a renovation, saving for your next property, preparing for a big purchase or booking a long-awaited holiday, a savings account that works harder for you can help you reach your goals sooner.

Spring Load is a short-term high interest savings account designed to support you with an introductory interest rate while you prepare for your next move.

Earn 5.00% p.a. for up to 4 months when you deposit $25,000 or more in new money, giving your savings a strong boost while you plan what’s next.

Ready to open a short-term high interest savings account?

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There are just a few things to keep in mind with Spring Load:

· The money needs to be new to Bank of us.

· You’ll need to be a Tasmanian resident.

· To earn the Spring Load savings account rate, keep a balance of $25,000 or more in your account.

· You can make up to five withdrawals or transfers each month and still earn strong interest. If you make more than five, no interest will be paid for the month.

- At the end of the introductory rate period, your account reverts to a Stash 'n' Splash account.

Don’t just save it. Spring load it!

Why choose Spring Load?

If you’re looking for a short-term, high interest savings account that supports your plans while keeping your money accessible, Spring Load offers a smart balance of strong returns and flexibility.

With this savings account, you’ll earn competitive interest to help your savings grow faster while you prepare for your next move.
Enjoy the freedom to access your funds when opportunities arise — there’s no need to lock your money away.
You can also add to your savings account at any time, with Spring Load supporting balances of up to $1M.

Spring Load is a practical high interest savings account for anyone who wants their money working harder, while still having the flexibility to adapt if plans change.

Secure your next move.

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Saving with purpose

As Tasmania’s only customer-owned bank, the value we create stays right here, supporting our customers and our communities.

We’re here to help Tasmanians feel confident about their money, whatever stage of life they’re in. And when you save with us, you’re saving with purpose, helping us lend to more Tasmanians and strengthen the community we all call home. We're not just a bank for the here and now, we're for what comes next.

Spring Load FAQs

What is the Spring Load account?

The Spring Load account is a short-term high interest savings option designed to help you make the most of your money for up to four months, without locking it away like a term deposit. It’s ideal if you have $25,000 or more to save and still want access to your funds.

Can I access my money while it’s in the account?

Yes. Unlike a term deposit, your funds are available at call, so you can withdraw or add money during the term. You can make up to five withdrawals or transfers in a month without affecting your interest — but if you exceed that, no interest will be paid for that month.

How long is the Spring Load introductory interest rate period?

The Spring Load interest rate period is based on calendar months. No matter what day of the month you open the account, the Spring Load period always ends at the end of the third full calendar month after the month it was opened.

So if you open it in February, it always ends on 31 May — whether you opened on the 1st or the 28th.

Example 1 — Opening early in the month

Customer opens 1 February
Spring Load period runs:
1 Feb → 31 May
Total time earning interest: almost four months (because you opened on the first day of the month)

Example 2 — Opening late in the month

Customer opens 28 February
Spring Load period runs:
28 Feb → 31 May
Total time earning interest: over three months

What happens at the end of the introductory interest rate period?

At the end of the introductory interest rate period, your account automatically reverts to a Stash ’n’ Splash account, with no change to your account number. Read more about Stash 'n' Splash.

Is my Spring Load account covered by the Government Guarantee?

Yes, deposits in your Spring Load account are protected by the Australian Government Financial Claims Scheme up to $250,000 per account holder, per bank.

*Interest rate is for balances of $25,000 or more and is subject to change. The introductory interest rate period goes through to the end of the calendar month three (3) months after the month of opening then reverts to a Stash ‘n’ Splash interest rate. If more than five (5) withdrawals are made in the calendar month, no interest will be paid for that month. Offer is available for Tasmanian residents only. New money deposits are required. The information contained in this advertisement is general in nature and does not take into account your personal circumstances. Prior to applying, please consider if the product is appropriate for you and read the relevant Disclosure Documents and interest rate schedule, which are available at any of our Retail Stores, by calling 1300 306 716 or from www.bankofus.com.au. Bank of us is a trading name of B&E Ltd ABN 32 087 652 088 AFSL & Australian Credit Licence 236870.

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Bank of us acknowledges and pays respect to the palawa - Tasmanian Aboriginal people - as the traditional owners of all the lands and waters. And we pay our respects to Elders past, present and emerging for they hold the knowledge, memories and culture of Aboriginal people in lutruwita/ Tasmania.