People’s Choice has maintained its highly competitive rates for term investments and savings
accounts, in the wake of the Reserve Bank’s latest change.
“In this new interest rate environment, People’s Choice is continuing to offer savers the most attractive rates we can,” said Maria-Ann Camilleri, Chief Member Officer.
“Regardless of whether you want to maintain access to your funds or if you prefer a set term, we have highly competitive options available.”
This means existing and new members can enjoy a very healthy 4.10% p.a. return on a 1-year term investment, with 2-, 3-, 4- and 5-year terms all earning a secure 4.00% p.a.
People’s Choice has also maintained higher interest rates on its three most popular savings accounts:
• Dream Fund = 4.05% p.a. (interest and bonus)
• Bonus Saver = 3.70% p.a. (interest and bonus)
• Young Saver = 4.10% p.a. (interest and bonus)
Due to the Reserve Bank’s decision to lift the cash rate a further 0.25%, People’s Choice existing variable rate home loans will increase by 0.25% p.a., as will variable business loans. The changes will be effective from 20 December 2022.
For any member feeling financial pressure, please note we do have a range of support materials available through our financial wellbeing hub, the home loan FAQs page on our website and via our extensive network of lending specialists.
