Savings Accounts

Footnotes:

• ¹ Interest is calculated daily on the portion of the balance which falls within each of the tiers and paid monthly on the last day of the month unless otherwise stated. This is a savings account available to members aged 12 to under 18 years. The account is also available to adults with a child or children under 12 years of age, where the membership is owned and operated by the parents’ or guardians. At the age of 12, the child can apply for their own membership at Australian Mutual Bank. Only one account per child. Any accounts held under a parent or guardians name will therefore be required to be closed.
• ² Calculated daily on the portion of the balance which falls within each of the tiers and paid monthly on the last day of the month. To be eligible for this account you must be a pensioner or a self funded retiree.
• ³ Calculated daily on whole balances. Bonus rate applies where the balance has been retained and at least one processed deposit of $1.00 or more has been made with no withdrawals during the month, otherwise the Standard Rate applies. Noting that as a result of end of month processing requirements, transactions received after 12pm (AEST) on the last day of the month may be processed the following day impacting bonus interest eligibility.
• ⁴ Account/s must have a credit balance in order to receive an offset benefit. Offset accounts must be held in the same name of the borrower/s on the linked eligible home loan. Up to 9 Offset accounts may be held per membership.
• ⁵ Calculated daily on the whole balance based on the rate applicable for the balance tier and paid monthly on the last day of the month unless otherwise stated.