On interest-bearing savings and transaction accounts we calculate interest on the closing daily credit balance of your account from the last day of the previous month to the second-to-last day of the month for which interest is being credited. If your savings or transaction account has an interest frequency other than monthly, interest is on the closing daily credit balance of your account from the last day of the month that interest was previously credited to the second-to-last day of the month for which new interest is being credited.
On our savings accounts that pay bonus interest, bonus interest will be paid dependent on the product that you hold. Bonus Saver bonus interest is paid when at least $50 is deposited into the account and there are no withdrawals in the month.
Young Saver bonus interest is paid when at least $5 is deposited into the account and there are no withdrawals in the month.
Deposits made on the last day of the month must be made by 5.00pm Central Standard time, whether or not it is a business day, to qualify for bonus interest in that month. For details of base and bonus rates on the Bonus Saver and Young Saver accounts please click here.
Yes, the account will be in the name of the child, but a parent/guardian can be added as a Third Party Operator to the account. Refer to our Accounts & Access Facilities Terms & Conditions for more information on Opening Accounts for Minors.
A Young Saver Account can be opened for a child from birth. The child can be granted access from the age of 13 with parent/guardian permission. Once the child reaches 18 years of age, full account access is given to them.