Christmas Club Account Interest Rate

This account is designed to help you save for Christmas. To ensure you have the maximum amount saved for your Christmas shopping, your funds are only accessible when it is time to go shopping in November and December.

Account Balance Range	Annual Interest Rate (as at 06 Jan 2009)	Method of Calculating Interest	How Interest is Calculated	When Interest is Calculated
Up to $1,999.99	0.10% pa	Tiered Interest	We apply the monthly percentage rate** to the minimun balance of your account during each month.	Interest is credited to your account 3 times each year after the close of business at the end of June, beginning of November and end of December.
$2,000.00 plus	0.15% pa	Tiered Interest
Penalty Interest on Overdrawn Account		20% pa on amount overdrawn

Method of calculating interest:
Tiered Interest - Means a single interest rate applies to the entire balance of your account. When your balance reaches a higher tier you will receive the interest rate for that tier on the entire balance of your account.

** The monthly percentage rate is the annual interest rate divided by 12.