Friday, 4 May, 2018
Let’s face it, saving money each week can be hard. We’re all told that it’s a good idea to squirrel money away each pay cycle but with the cost of avocados these days and the pace of life, which can be increasingly difficult. Thankfully, saving can be easy using our Online Savings Account.
With an Online Savings Account, you can put money aside from your Everyday Account so you can’t access it with a card. That takes temptation out of the equation and means you’ve got money in the bank earning interest.
Picture this: friends are coming to stay for the weekend and you’re excited to go out for dinner and drinks – maybe even breakfast. But the tax man has collected; funds are low and you’re on a small budget. You also know that you need to put away a few hundred bucks this week to have enough to pay the bills and buy groceries next week.
Our Online Savings Account to the rescue. You can easily transfer whatever you need to save from your Everyday Account to your Online Savings, removing the temptation to spend it. You can party on, safe in the knowledge that you can’t spend the rent.
The convenience of the Online Savings Account means you can simply, and without any fees, transfer the money back to your Everyday Account to pay bills or buy groceries with your card. And you can do this as many times as you like, or need to.
You can also open multiple Online Savings Accounts if you have an Everyday Account. This can be useful to set money aside for different goals. One account could be for saving for a trip overseas, another for a car and another for bills, another for smashed avo.
There are many other uses and benefits to using an Online Savings Account with your Everyday Account. Here are a few:
- No monthly account keeping fees
- Open multiple Online Savings Accounts for different goals
- Access to account via Internet Banking and App
- Withdraw from the account whenever you want without missing out on earning interest.
- Interest eligibility – all account owners who have an Everyday Account or a Home Loan or a Credit Facility with Newcastle Permanent can earn interest
- No minimum balance and no minimum deposit – so there’s no need to grow the account balance each month to receive interest
- Can transfer to and from the account as many times as you like without affecting the ability to earn interest at the end of the month