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Hero Saver Deposits/Withdrawals

Posted by wartex11 wartex11
Message 1 of 3 70 Views

Hi

For the Hero Saver account, if i deposit $1000 monthly, and then withdraw $100 monthly - will the 2.60% bonus interest be applied ?

 

(Total amount deposited per month is over the $200 min)

 

Regards,

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Re: Hero Saver Deposits/Withdrawals

Posted by DanaeC DanaeC
Message 2 of 3 45 Views

Hi @wartex11, thanks for your enquiry.

To clarify, if you do make a withdrawal, only the credit interest rate of 0.01% will be applied. The rate of 2.60% pa is the current variable bonus interest rate, applied to balances of up to $250K on the first business day of the month, provided you have met the criteria. This being a $200 minimum deposit prior to close of business on the last business day of the month, and that there are no withdrawals made from the account. The 0.01% applies to the balance of the account, even over $250K (up to $5 Million), and will be paid regardless of any deposits or withdrawals made. 

I hope this helps!

 

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Re: Hero Saver Deposits/Withdrawals

Posted by wartex11 wartex11
Message 3 of 3 34 Views

Thanks for the reply

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