All Transactional Accounts Interest Rates

With so many different accounts on the market, Newcastle Permanent aims to make it easy for you to select the right account to suit your circumstances. We have a range of personal transaction accounts which are designed to suit your everyday banking needs.

Statement Savings Account, Achiever Account^ and Spend Account^

Account Balance Range	Annual Interest Rate (as at 07 Feb 2012)	Method of Calculating Interest	How Interest is Calculated	When Interest is Calculated
Up to $1,999.99	0.01% pa	Strata Interest	We 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 - $4,999.99	0.01% pa
$5,000.00 - $19,999.99	0.01% pa
$20,000.00 - $49,999.99	0.01% pa
$50,000.00 plus	0.01% pa
Penalty Interest on Overdrawn Account		20% pa on amount overdrawn

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

Account Balance Range	Annual Interest Rate (as at 07 Feb 2012)	Method of Calculating Interest	How Interest is Calculated	When Interest is Calculated
Up to $1,999.99	1.01% pa	Strata Interest	We 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 - $4,999.99	1.01% pa
$5,000.00 - $19,999.99	1.01% pa
$20,000.00 - $49,999.99	1.01% pa
$50,000.00 plus	1.01% pa
Penalty Interest on Overdrawn Account		20% pa on amount overdrawn

Special Monthly Interest Statement Account and
Special Monthly Interest Passbook Account

Account Balance Range	Annual Interest Rate (as at 07 Feb 2012)	Method of Calculating Interest	How Interest is Calculated	When Interest is Calculated
Up to $44,599.99	3.00% pa	Strata Interest	We 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 monthly after the close of business at the end of the month.
$44,600.00 plus	4.50% pa	Strata Interest
Penalty Interest on Overdrawn Account		20% pa on amount overdrawn
Important Information - Both Special Monthly Interest Statement Account and Special Monthly Interest Passbook Account will have interest calculated and credited in accordance with deeming rules applying to single pensioners.

Mortgage Offset

Account Balance Range	Annual Interest Rate (as at 07 Feb 2012)	Method of Calculating Interest	How Interest is Calculated	When Interest is Calculated
Up to $499.99	0.01% pa	Strata Interest	We apply the daily percentage rate* to the different portions of your account balance at the start of each day.	The rate of interest for a mortgage offset account is determined by the type of loan you have. If you have a Premium or Premium Plus Package Home Loan the 100% offset account rate applies and your account offset rate is the rate on your home loan.
$500.00 - $1,999.99	0.01% pa
$2,000.00 - $4,999.99	0.01% pa
$5,000.00 - $19,999.99	0.01% pa
$20,000.00 - $49,999.99	0.01% pa
$50,000.00 plus	0.01% pa
Penalty Interest on Overdrawn Account		20% pa on amount overdrawn
Important Information - This type of account has been approved by the Australian Taxation Office only on the basis that no interest is earned. The interest offset accrues on this account up to the point where the balance of the account equals the balance owing on the home loan. No interest offset accrues on the portion of the balance of the Mortgage Offset Account which exceeds the balance outstanding on the home loan or for the month in which the loan is fully repaid.

Everyday Account (when not linked to a home loan)

Account Balance Range	Annual Interest Rate (as at 07 Feb 2012)	Method of Calculating Interest	How Interest is Calculated	When Interest is Calculated
Entire Balance of Account	0.01% pa	Single Tiered Interest	We 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:
Strata Interest - Means different interest rates apply to different portions of your account balance.
Single Tiered Interest - Means a single interest rate applies to the entire balance of your account.

* The daily percentage rate is the relevant annual interest rate(s) divided by 365.
** Transaction fees apply once you have reached your limit.
^ This product is no longer available for sale