Business Banking Interest Rates - Business Cheque Account and Club Account

Business Cheque Account and Club Account Interest Rates

Open a Business Cheque Account with the Newcastle Permanent and enjoy the many benefits available to your business, including a competitive fee structure and highly competitive interest rates.

The Club Account is specifically designed for any non-profit organisation and offers all of the features of our business cheque account, with the added benefit of no monthly account keeping fee.

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	0.00% pa	Tiered Interest	We apply the daily percentage rate* to the balance of your account at the end of each day.	Interest is credited to your account quarterly after the close of business at the end of June, September, December and March.
$2,000.00 - $9,999.99	0.00% pa
$10,000.00 - $19,999.99	0.00% pa
$20,000.00 - $49,999.99	0.00% pa
$50,000.00 - $99,999.99	0.45% pa
$100,000.00 plus	0.50% pa
Penalty Interest on Overdrawn Account		Business Base Overdraft + 6% pa

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.

Business Cheque Account and Club Account Interest Rates

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 daily percentage rate is the relevant annual interest rate(s) divided by 365.

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.