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Home /  Rates/fees/charges /  Interest rates /  Savings accounts Friday 12 March 2010
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Defcredit // Savings Accounts


Effective 20 January 2010

Savings accounts



> National Access
> Max-E Saver
> I-Saver
> Cash Management deposit
> First Home Saver account
> Defcredit Super Assured - Retirement Savings Account
> Budget Savings
> Christmas Savings
> Pensioner Deeming
> Kids Club


National Access


Min Balance
Percentage Rate
$0 - $249.99
nil

$250.00 plus
0.01% pa

> Interest is earned on that part of the balances that exceed $249.99
> Interest is calculated daily on the closing balance and credited on 31 March each year.


> Go to National Access account


Max-E Saver*


Standard Rate
0.50% pa

Bonus Rate
3.00% pa

> If a deposit is made during the month with no withdrawals, a bonus of 3% p.a
interest is paid
> Interest is calculated daily on the closing balance and credited on the last day
of each month.


> Go to Max-E Saver account


I-Saver*


$0 - $4,999.99
2.00% pa

$5,000.00 plus
4.00% pa

> Accounts with $5,000.00 or more receive the higher tier rate on the full balance
> Interest is calculated daily on the closing balance and credited on the last day
of each month.


> Go to I-Saver account


Cash Management deposit


Min Balance
Percentage Rate
$0 - $999.99
0.00% pa

$1,000.00 - $4,999.99
1.25% pa

$5,000.00 - $19,999.99
2.25% pa

$20,000.00 - $49,999.99
2.75% pa

$50,000.00 plus
3.25% pa

> Account balances earn interest according to the applicable tiered interest rate on
the entire account balance
> Interest is calculated daily on the closing balance and credited on the last day
of each month.


> Go to Cash Management deposit


First Home Saver Account


Min Balance
Percentage Rate
nil
4.00% pa

> Interest is calculated daily on the closing balance and credited on 30 June each year.

> Go to First Home Saver account


Defcredit Savings Assured - Retirement Savings Account



Variable rate option
Minimum balance
Percentage Rate
$1 - $9,999.99
2.00% pa

$10,000 and over
4.50% pa

> Account balances earn interest according to the applicable tiered interest rate on the entire account balance. Interest is calculated daily on the closing balance and credited annually on 30 June.
> Gross rate of interest before deduction of government earnings tax.

Term Deposit option
Min Balance
Term
Percentage Rate
$25,000.00
6 months
5.00% pa

$25,000.00
12 months
6.25% pa

> Interest on each term deposit is calculated daily and is credited at the end of the term selected. Interest, when credited, is then paid into your RSA Variable Rate account.
> Gross rate of interest before deduction of government earnings tax.


> Go to Defcredit Super Assured - Reitrement Savings Account


Budget Savings


Min Balance
Percentage Rate
nil
0.01%

> Interest is calculated daily on the closing balance and credited on 31 March each year.

> Go to Budget Savings account


Christmas Savings


Min Balance
Percentage Rate
$0 - $249.99
nil

$250.00 plus
0.01% pa

> Interest is earned on that part of the balances that exceed $249.99
> Interest is calculated daily on the closing balance and credited on 31 October each year.


> Go to Christmas Savings


Pensioner Deeming


Min Balance
Percentage Rate
$0 - $42,000.00
2.00% pa

$42,000.01 plus
3.00% pa

> The first $42,000.00 earns interest at the lower interest rate regardless of account balance
> Interest is calculated daily on the closing balance and credited on the last day of February, May, August and November each year.


> Go to Pensioner Deeming account

Kids Club


Min Balance
Percentage Rate
nil
1.50% pa

> Interest is calculated daily on the closing balance and credited on 31 March each year.

> Go to Kids Club

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