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Savings Interest Rate Changes

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We are increasing the interest rates for the following savings products, effective 1 August 2022.

  • Bonus Saver (S7) for balances $1 - $100,000 interest rate increased by 0.50% to 1.25% (inclusive of the base plus bonus rate)1.
  • Power-Up eSaver (S6, S51 & S71) for balances $1 and over interest rate increased by 0.50% to 0.90%3.
  • Christmas Savings Account (S4)2 for balances $1 and over interest rate increased by 0.50% to 1.10%4.
  • Pensioner Security Account (S8 & S72) for balances $1 - $45,400 interest rate increased by 0.50% to 1.26%4.
  • Pensioner Security Account (S8 & S72) for balances over $45,400.01 interest rate increased by 0.50% to 1.45%4.

For more details, please see our latest interest rate schedule below.


1. Bonus interest earned for monthly deposits of $50 with no withdrawals, debit transfers or electronic debits from the account in the calendar month. Special Note: The bonus rate applies for a minimum deposit of $50.00 per month, no withdrawals per month and account balances under $100,000, the standard rate applies to any balance over $100,000. Personal banking only. Balances of all your Bonus Saver accounts are added together. The Bonus rate is currently 1.24%. The standard rate is currently 0.01%. Rates are subject to change. Example: Member’s Bonus Saver account balance is $112,413.59 at the end of the month and has made a deposit of $50 with no withdrawals within the month. The Bonus Interest is calculated on the daily balance up to $100,000 and the Standard Interest is calculated on the daily balance of the account. Interest is calculated daily and charged monthly.
2. Withdrawals only available from 1 November to 31 January.
3. Interest is calculated daily and paid monthly.
4. Interest is calculated daily and paid quarterly.

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