St George launch savings account for Gen Y

St.George Bank has launched a new savings product, St.George SENSE, designed to help people master their personal finances and save more through tools such as a categorized spending chart, savings target graph and a unique ‘round-up’ feature to transfer spare change to their savings account.

The account is specifically designed with the needs of Gen Y in mind and others who may need assistance with budgeting and saving. St.George SENSE combines two separate but complementary accounts – SENSE Everyday (transactions account), and a SENSE Savings account.

The product is rich in tools to help people manage their everyday money, including an easy-to-read statement that charts spending and savings, a feature that sets and tracks savings targets, and a unique ‘round-up’ feature that rounds up purchases made from the SENSE Everyday account to the nearest dollar, and transfers this ‘electronic change’ to the SENSE Savings account.

As a special deal for new account holders, St.George is offering to match any round-up savings accumulated in the first three months after an account is opened, up to the value of $30. This offer is limited to accounts opened between 12 October 2009 and 12 January 2010.

Source: St George Bank