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Statement Savings Account, Achiever Account^ and Spend Account^ Interest Rates

The Statement Savings Account is a convenient and cost-effective transactional account designed to meet your day-to-day banking needs. With no account keeping fees, unlimited over the counter deposits, free phone and internet banking, cash card access throughout Australia and the option of Visa Debit card access throughout the world, the Statement Savings Account make managing your money easy.

 

Account Balance Range Annual Interest Rate
(as at 03 Feb 2012)
 Method of Calculating Interest How Interest is Calculated When Interest is Calculated
Up to $1,999.990.01% paStrata InterestWe apply the daily percentage rate* to the different portions of your account balance at the start of each day. Interest is credited to your account half yearly after the close of business at the end of June and December.
$2,000.00 - $4,999.990.01% pa
$5,000.00 - $19,999.990.01% pa
$20,000.00 - $49,999.990.01% pa
$50,000.00 plus0.01% pa
Penalty Interest on Overdrawn Account 20% pa on amount overdrawn
Method of calculating interest: 
Strata Interest - Means different interest rates apply to different portions of your account balance.

* The daily percentage rate is the relevant annual interest rate(s) divided by 365.
^ This product is no longer available for sale.

Statement Savings Account when linked to a Premium Plus Package Home Loan Interest Rates

Account Balance Range Annual Interest Rate
(as at 03 Feb 2012)
 Method of Calculating Interest How Interest is Calculated When Interest is Calculated
Up to $1,999.991.01% paStrata InterestWe apply the daily percentage rate* to the different portions of your account balance at the start of each day. Interest is credited to your account half yearly after the close of business at the end of June and December.
$2,000.00 - $4,999.991.01% pa
$5,000.00 - $19,999.991.01% pa
$20,000.00 - $49,999.991.01% pa
$50,000.00 plus1.01% pa
Penalty Interest on Overdrawn Account 20% pa on amount overdrawn
Method of calculating interest: 
Strata Interest - Means different interest rates apply to different portions of your account balance.
* The daily percentage rate is the relevant annual interest rate(s) divided by 365.

Everyday Account (when not linked to a home loan)

Account Balance Range Annual Interest Rate
(as at 03 Feb 2012)
 Method of Calculating Interest How Interest is Calculated When Interest is Calculated
Entire Balance of Account0.01% paSingle Tiered InterestWe apply the daily percentage rate* to the opening balance of your account at the start of each day.Interest is credited to your account half yearly after the close of business at the end of June and December.
Penalty Interest on Overdrawn Account 20% pa on amount overdrawn

Everyday Account (linked to a home loan)

If you elect to link a home loan where a 100% offset rate applies, your account offset rate is the rate on your home loan. If you elect to link a home loan where we offer a partial interest offset, the Everyday Account credit interest rate in the above Everyday Account table applies. Interest is not credited on your Everyday Account but interest which would otherwise be payable is offset against the interest charged each month on your loan (this is called an "interest offset").

Method of calculating interest:
Single Tiered Interest - Means a single interest rate applies to the entire balance of your account.
Interest rates are variable and subject to change.
* The daily percentage rate is the relevant annual interest rate(s) divided by 365. 
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