Our Booster Bonus Deposit Account is a demand deposit account with a difference. It offers you a competitive variable rate of interest and you could get a bonus ‘booster’ rate on top.
Please note the Booster Bonus account is closed to new business from the start of business on the 8th December 2020.
Simple. Earn a variable 0.01% Gross/Annual Equivalent Rate (AER) on all account balances.
But this is where it gets really ‘interesting’ (see what we did there?). You can lodge money into your Booster Bonus Deposit Account whenever you want during the year. Plus when you make two withdrawals or fewer in a calendar year, we'll reward you with a bonus ‘booster’ rate.
That’s a variable bonus rate of 0.01% Gross/AER on top of the account rate you’re already earning. Depending on how much you’ve deposited, it’s a whole chunk of change.
From the calendar year 2021 the additional variable interest bonus will be 0.01% Gross/AER
You’re never stuck – this account gives you complete control, with instant access to your cash, any time you want. No worries!
If you do make more than two withdrawals within the calendar year – 1 January to 31 December – then we can’t credit the bonus interest to your account.
Account Interest Rate and Bonus Interest Rate
The account interest rate and bonus rate are subject to change. They are also subject to Deposit Interest Retention Tax (DIRT) where applicable - DIRT rate is subject to change.
The variable bonus is calculated at 0.01% Gross/AER on the average daily balance at the end of each day in your account over the calendar year. The account interest and the variable bonus rate (where applicable) are credited to the account on the 31 December of each year or the next business day. The Account must remain open as at the close of business on the 31 December in each year in order for the Bonus interest to be credited to the Account.
Annual Equivalent Rate (AER) illustrates what the interest would be if interest was paid and compounded each year. Our AER calculation assumes that the account is held for a year and that the interest rate remains constant.
Terms and conditions apply
The Booster Bonus Deposit Account is not available to business customers. Terms and Conditions apply - read the full account terms and conditions
Not sure which account is right for you? Let us help you with that.
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