The product enables customers to win cash prizes each month.
The Bank of Queensland (BOQ) has announced an "innovative" and "market-leading" savings account.
Save To Win gives customers the opportunity to be presented with cash prizes every month and according to the organisation, it is a "complement" to traditional savings accounts.
Consumers will receive a "small interest rate" on the money they put away, however some of the finance that would have usually been accrued on a standard product will go towards a cash prize pool.
So, customers will have the chance to win at least $30,000 of cash prizes each month and the main target will be a single sum of $20,000.
BOQ managing director David Liddy said the offering is part of a new roll-out of products designed to "attract new customers, reduce our funding costs and ensure that our product offering matches the big guys - or in this case, beats them".
Last month, the company tasted success when it was named Australia's best Mobile banking solution for the second consecutive year at the Amber Awards.
By Kate Guthrie
