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Terms and Conditions
PART 3: Schedule of Interest Rates for the Business Cheque Account, Business Cash Management Account, Club Account and Trust Accounts

This document is Part 3 of the Terms and Conditions for the Business Cheque Account, Business Cash Management Account, Club Account and Trust Accounts. The other documents that make up the Terms and Conditions are:

  • Part 1: Key Features Statement and Terms and Conditions for the Business Cheque Account, Business Cash Management Account, Club Account and Trust Accounts and Associated Payment Facilities - Download (PDF 390kb)
  • Part 2: Schedule of Fees, Charges and Daily Limits for the Cheque Account, Business Cash Management Account, Club Account and Trust Accounts - Download (PDF 257kb)

However, we may give you this document on its own (without the other documents that make up these Terms and Conditions). In that case, this document does not form part of the Terms and Conditions unless we tell you otherwise.

You should consider the Terms and Conditions in deciding whether to acquire, or continue to hold, any of the products the subject of the Terms and Conditions. The issuer of the products in the Terms and Conditions is Newcastle Permanent Building Society Ltd. ABN 96 087 651 992, AFSL 238273.

To obtain a copy of the Terms and Conditions, please call our Member Support Centre 13 19 87, visit one of our branches or view our Tems and Conditions online.

Business Cheque Account and Club Account
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 $1,999.990.00% paTiered InterestWe 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 - $9,999.990.00% pa
$10,000.00 - $19,999.990.00% pa
$20,000.00 - $49,999.990.00% pa
$50,000.00 - $99,999.990.45% pa
$100,000.00 plus0.50% pa
Penalty Interest on Overdrawn Account Business Base Overdraft + 6% pa

Business Base Overdraft Interest Rate

Business Overdraft Rate
Base Overdraft Rate 6.98%pa
Rate(s) effective as at 06 Jan 2009

Business Cash Management Account
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 $9,999.990.01% paTiered InterestWe apply the daily percentage rate* to the balance of your account at the end of each day. Interest is credited to your account monthly after the close of business at the end of the month.
$10,000.00 - $19,999.992.75% pa
$20,000.00 - $49,999.993.25% pa
$50,000.00 - $99,999.993.25% pa
$100,000.00 - $499,999.993.80% pa
$500,000.00 - $999,999.994.00% pa
$1,000,000.00 plus4.00% pa
Penalty Interest on Overdrawn Account 20% pa on amount overdrawn

Real Estate Trust Account
Account Balance Range Annual Interest Rate
(as at 06 Jan 2009)
 Method of Calculating Interest How Interest is Calculated When Interest is Calculated
Entire Balance of Account60% of the RBA official targeted cash rateSingle Tier InterestWe apply the daily percentage rate* to the balance of your account at the end of each day. No interest is credited to your account. However, interest earned on your account is paid to the Office of Fair Trading monthly after the close of business at the end of the month.
Penalty Interest on Overdrawn Account 20% pa on amount overdrawn

Solicitor's Trust Account
Account Balance Range Annual Interest Rate
(as at 06 Jan 2009)
 Method of Calculating Interest How Interest is Calculated When Interest is Calculated
Entire Balance of Account3.00% paSingle Tier InterestWe apply the daily percentage rate* to the balance of your account at the end of each day. No interest is credited to your account. However, interest earned on your account is paid to the Office of Fair Trading monthly after the close of business at the end of the month.
Penalty Interest on Overdrawn Account 20% pa on amount overdrawn
Important Information - this rate is negotiatetd between Newcastle Permanent Building Society and the New South Wales Law Society.
* The daily percentage rate is the relevant annual interest rate(s) divided by 365.

Method of Calculating Interest

There are 2 methods 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.
Single Tiered Interest - Means a single interest rate applies to the entire balance of your account.
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