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Defcredit First Home Saver Account
A faster way to your first home
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Saving for your first home can be hard. But with a Defcredit First Home Saver Account, it’s now that bit easier. We’ll not only pay you a high interest rate on your savings, but the government will also help by making additional contributions on the deposits that you make. It’s a faster way to save for your first home, with the assistance of the government and Defcredit.
The benefits of a Defcredit First Home Saver Account include:
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- a competitive 4.50% p.a. variable interest rate
- no account keeping fees
- an additional government contribution of 17% on contributions you make of up to $5,000 in any financial year
- any interest on your savings is only taxed at 15%.
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However, to benefit from such a good deal the government does require that you
must have:
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- a tax file number and be aged 18 or over and under 65
- never owned or jointly owned a dwelling that has been your main residence in Australia or Norfolk Island
- never opened a First Home Saver Account before, unless you are transferring from one First Home Saver Account to another
- Australian residency for taxation purposes.
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There are limitations on how and when you can withdraw your savings, but to find out more, download our Product Disclosure Statement.
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To apply simply drop in to your local Defcredit branch or download our application form and post it back to us at PO Box 14537 Melbourne VIC 8001.
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Not a member yet? It's easy!
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Browse the benefits of membership and apply today
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As this advice has been prepared without considering your objectives, financial
situation or needs, you should, before acting on this advice, consider its appropriateness
to your circumstances. It is strongly recommended that you read the Defcredit First Home Saver Account Product Disclosure Statement before making any decisions in regards to
this product.
If you need more information please contact your accountant or seek independent financial advice.
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