The Savings Plus Account has a built-in incentive to help you grow your savings – a completely tiered interest rate that increases as your savings balance grows.
With a balance of as little as $5,000, you can earn interest at money market rates with our Market Linked Account. Unlike a term deposit, your money is available for withdrawal after just seven days – and providing you keep a minimum balance of $5,000, you can make withdrawals at any time.
If you have a Premium Variable Home Loan or Police Value Home Loan then the Mortgage Offset account is a ‘must have’ facility. It offsets 100% of the savings balance against your home loan before the loan interest is calculated. This reduces the amount of interest you pay and could shorten the term of your home loan by many years.
Your savings are not locked up in the Mortgage Offset Account, therefore allowing access to your cash at anytime. However, the more you keep in your Mortgage Offset Account, the more you save in interest and the shorter the home loan term.