How is interest paid on my Savings Plus account?
Let’s say for example Savings Plus pays you a base rate of interest of 1% and reward interest of 3.25% (see the current rates).
Your base rate of interest (1%) is paid monthly, regardless of how many times you dip into it.
Then, if you make no withdrawals, your account will receive additional reward interest of 3.25% p.a. paid quarterly into your account. This gives you combined interest of 4.25% per annum. However, you’ll receive less interest if you make a withdrawal. In our example if you make a withdrawal during a calendar quarter, you’ll receive 1.75% p.a. reward interest, giving you a total of 2.75% combined interest p.a.
Please note that balances above $1million earn base interest only.
You'll simply need both an eligible ASB transaction and savings account. If you want your Save the Change savings to ...
If you close your accounts Save the Change will switch off. If you have nominated more than one savings account, ...
There are two types of interest, based on different transactions. The first is Interest on transactions where you have purchased ...