Interest rate changes to savings and transaction accounts and Term Deposits

29 Oct 2021

| Accounts

We’ve made some reductions to our 55+ Account, Bonus Savings Account and Netsave Account interest rates, effective Friday 5 November 2021.

You can see the details of the changes we’ve made below, and these will also be detailed in your account transactions in Internet Banking and the Mobile Banking App, and in your next account statement.

The good news is that on Tuesday 26 October 2021, we increased some of our Term Deposit interest rates which are also detailed below. These rates are now some of the best in the market and are perfect if you’re wanting to earn some serious interest.

Savings and transaction accounts

55+ Account

Reduced the rate for balances less than $50,000 from 0.05% pa to 0.01% pa.

Reduced the rate for balances between $50,000 - to less than $250,000 from 0.20% pa to 0.10% pa.

Bonus Savings Account

Reduced the regular rate for all balances from 0.05% pa to 0.01% pa., making the total rate of 0.26% pa. (bonus interest + regular rate) for eligible account holders.

Netsave Account

Reduced the ongoing rate for all account holders from 0.20% pa to 0.15% pa.

You can see all the current rates for our Savings and Transactions Accounts on our rates page.

Term Deposits

1 Year0.65% pa+0.25%
2 Years0.65% pa+0.20%
3 Years0.65% pa+0.15%
4 Years0.65% pa+0.15%
5 Years0.65% pa+0.15%

You can see all the current rates for Term Deposits on our rates page.

Opening a Term Deposit

You can open a Term Deposit either in your Mobile Banking App or Internet Banking:

Mobile Banking App

Select ‘Open new account’ from the drop-down menu, choose the term you want and follow the instructions.

Internet Banking

Select ‘Apply’ from the top navigation menu, click ‘Account’, then choose the term you want and follow the instructions.

If you have any questions feel free to get in touch by Secure Mail through Internet Banking or you can call us on (08) 8202 7777 from 8am-8pm Monday to Friday, or 8am-2pm on Saturdays.

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Call us on (08) 8202 7777 or visit us at 400 King William Street, Adelaide