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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.

For any member feeling financial pressure, we 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.


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