Interest Rates

There's interest paid on money in both your everyday and savings "sub-accounts". Interest is calculated daily and paid monthly.

Everyday Options

Interest is calculated daily and paid half yearly.

Everyday Options Sub-Account

Variable interest rate. Interest is calculated daily. Standard interest is paid monthly.

Plus you’ve got the option to lock any portion of money in your savings “sub” account for a period of time to earn higher interest (called “flexiRates”).

Everyday Options Sub-Account flexiRates

Interest is calculated daily on the whole balance of the nominated flexiRate amount and paid at the end of the flexiRate period. flexiRate interest is fixed for the nominated flexiRate period. The maximum flexiRate period is 1 year. An interest adjustment will apply if we allow you to release your flexiRate early.

You can add up to 15 “flexiRates” to each of your savings “sub” accounts, just log into Internet Banking and apply via the “Manage my flexiRates” tab.

Fees at a glance

We want to teach you how to save on fees. Learn more about fees and how to avoid them.

Waiver Eligibility

You’re eligible for an account keeping fee waiver if,

• You’re a full time student (“Full time Student waiver”); or
• You’re impaired in some way that restricts you from accessing our banking facilities (“Accessibility waiver”); or
• You apply online.

 flexiRates

Got something coming up that you want to save for now? Lock any portion of your savings away for a period of time to earn higher interest (called “flexiRates”). What’s more, no minimum balance is required. To set up a flexiRate,

1. Log into Internet Banking;
2. Click on the “Manage my flexiRates” tab;
3. Select which savings “sub” account the money you’d like to lock away is in;
4. Nominate the amount (“flexiRate amount”) that you want to lock away;
5. Choose how long you want to lock it away for;
6. Provide instructions on whether you would like to,
   • Release your money back into your account at the end; or
   • Renew your flexiRate again.

Automatic Savings Plan

Save time and maximise your interest every pay day by automatically directing your cash from your everyday account to the accounts you need it in (e.g. your savings “sub” accounts). To set up recurring transfers,

1. Log  into Internet or Mobile Phone Banking;
2. Click on the “Transfer Money” tab;
3. Select what type of transfer (i.e. between your accounts or to an external account);
4. Follow the steps and when you get to “Timing” select “Recurring Transfer”.

To keep track you can look up a list of your frequent transfers through Internet Banking by,

1. Clicking on the “Transfer Money” tab; and
2. Selecting the “Frequent Transfers List”.

Free Sweeps

We’ve got two types of free “sweeps” that you can choose from,

1. Avoid being charged overdrawn fees with a free “insufficient funds” sweep; or,
2. Maximise the amount of interest you can earn on your savings with a free “funds management” sweep.

Everyday Options in Offset mode

An offset account is a smarter way to save on your home loan repayments. How “offset mode” works,

• We look at the total amount of money you’ve got in your Everyday Options account (everyday and savings “sub” accounts) minus any "flexiRates" you may have,
• This is subtracted from your home loan amount and the difference is what’s used to calculate your interest repayments,

Put simply, the more money you’re able to save the less interest you’ll end up paying on your home loan.

Personal Overdraft

Be prepared for any unknown expenses with a personal overdraft attached to your Everyday Options account. Learn more about a Personal Overdraft facility.