People’s Choice has again lifted interest paid on a wide range of savings products and term investments, following the Reserve Bank’s latest decision to lift the official cash rate.
This includes a giant 0.40% p.a. increase on Dream Fund accounts, and a 0.25% p.a. lift for our other popular savings accounts:
- Dream Fund – lifted to 5.00% p.a. (Base + Bonus)
- Young Saver – lifted to 4.90% p.a. (Base + Bonus)
- Bonus Saver – lifted to 4.25% p.a. (Base + Bonus)
At the same time, People’s Choice has also increased or maintained rates on all term investment products from 2-month to 5-year terms. These include:
- 3-month term – increased by 0.70% p.a.
- 9-month term – increased by 0.50% p.a.
- 1-year term – increased by 0.50% p.a.
All changes for term investments come into effect on 23 June 2023, with changes to savings accounts effective from 1 July 2023.