Special Monthly Interest Account
Our Special Monthly Interest Account is a deeming account designed for pensioners and people aged 60 and over that allows you to choose how you manage your banking.
Select the statement option for access to your account using ATMs, EFTPOS and cheque book as well as over the counter service or the passbook option for over the counter access. Interest is paid monthly, directly into your account, whichever option you choose.
Benefits
Both statement and passbook options offer:
- No ongoing account keeping fees.
- Interest is calculated daily and paid monthly.
- Over the counter personal service.
- Free Internet and Phone Banking.
Special Monthly Interest Account (Statement)
With a Special Monthly Interest Statement Account, you have the convenience of ATM and EFTPOS access.
You can also take up the added options of a personal cheque book and Visa Debit card so you can manage your everyday finances with ease, all from one account.
Product features
|
Money available at call
|
Yes |
|
Transaction record
|
Statement |
|
Interest
|
Interest is calculated daily and paid monthly.
|
|
Minimum opening balance
|
$1 |
|
Access and transactions
|
- Direct credit
- Direct debit
- ATM
- EFTPOS
- Internet Banking
- Phone Banking
- BPAY®
- Transfer money
- Over the counter
You can also apply for:
- Personal cheque book
- Visa Debit card
|
|
Transaction fees
|
Yes. There is a minimum six free transactions. Additional free transactions are available if you have an automatic transfer to your eligible Newcastle Permanent loan or you maintain a higher balance in your account.
|
|
Ongoing account keeping fees
|
Nil |
Special Monthly Interest Account (Passbook)
If you prefer to make over the counter transactions, the passbook option is for you.
Product features
|
Money available at call
|
Yes |
|
Transaction record
|
Passbook |
|
Interest
|
Interest is calculated daily and paid monthly.
|
|
Minimum opening balance
|
$1 |
|
Access and transactions
|
- Direct credit
- Direct debit
- Internet Banking
- Phone Banking
- BPAY®
- Transfer Money
- Over the counter
|
|
Transaction fees
|
Yes. There is a minimum six free transactions. Additional free transactions are available if you have an automatic transfer to your eligible Newcastle Permanent loan or you maintain a higher balance in your account.
|
|
Ongoing account keeping fees
|
Nil |
How to apply
To be eligible to open a Special Monthly Interest Account, we require written evidence that you are either:
- 60 years of age or over;
- receiving an eligible government pension; or
- a Member of the Association of Independent Retirees.
Is this the right account for you? If so, read more on how to apply.