Savings Rate Changes Effective 17 July 2020

We regularly monitor and compare our interest rates to ensure we are offer competitive products and services. As a result, the interest rates on a number of our Savings products will be reduced, and the Online Saver will be increased.  

These changes will be effective from Friday 17th July 2020. To make these rate changes easier to understand, we've created the below table.

Deposit Interest Rates 

  Balance from  Balance less than New Interest Rate (%) Previous Interest Rate (%)
Bonus Saver, Student Money Saver and Future Start  $1 And over  1.20 1.30
This 1.20% interest rate comprises of 0.01% (0.01%) base rate and 1.19% (previously 1.29%) bonus rate. Interest is calculated on daily balances on a tiered basis. Interest is paid monthly.
Online Saver  $1  And over  0.55 0.50
Pension Plus  $1 $50,000 0.35 0.35
  $50,000 And over  1.10 1.25
GoSaver (no new accounts from 1 April 2018) $1 And over  0.55 0.70
Super RSA Variable Rate  $1  $10,000 0.15 0.15
  $10,000 $50,000 0.65 0.65
  $50,000 And over  0.70 0.80

 

Business Interest Rates 

  Balance from  Balance less than  New Interest Rate (%) Previous Interest Rate (%)
Online Saver  $1 And over 0.55 0.50