Savings Interest Rate Changes
We are increasing the interest rates for the following savings products, effective 1 July 2023.
- Bonus Saver (S7) for balances $1 - $100,000 interest rate increased by 0.35% to 4.60% (inclusive of the base plus bonus rate)1.
- Power-Up eSaver (S6) for balances $1 and over interest rate increased by 0.25% to 2.90%2.
- Pensioner Security Account S8 for balances $1 - $45,400 interest rate increased by 0.10% to 2.76%3.
- Pensioner Security Account S8 for balances $45,400.01 and over interest rate increased by 0.10% to 2.90%3.
For more details, please see our latest interest rate schedule below.
Eligibility criteria, terms and conditions, fees and charges apply.
1. Bonus interest rate applies to account balances under $100,000 if those accounts have:
- a minimum monthly deposit of $50 and
- no withdrawals, transfers within the calendar month
Standard interest rate applies to account balances
- over $100,000, and
- up to $100,000 if the account does not meet above criteria for bonus interest rate.
Example: Member’s bonus saver account balance is $112,413.59 at the end of the month. During the month member has deposited $50 and made no withdrawals. Bonus interest is payable on $100,000 and standard interest is payable on $12,413.59. Interest is calculated daily and paid monthly.
Bonus interest rate is currently 4.59% and standard interest rate is currently 0.01%. Rates are subject to change.
Personal banking only. Only one bonus saver account can be opened per membership.
2. Interest is calculated daily and paid monthly.
3. Interest is calculated daily and paid quarterly. Special Note: Members over 65 years of age are automatically exempt from paying the Monthly Usage Fee, no application for exemption forms are required.
