Changes to Bonus Saver and Term Deposit Interest Rates

As a mutual bank, we’re committed to giving all members a fair deal, while carefully balancing the interests of our borrowers and depositors.

Due to the continuing pressure on the margin between the interest earned on loans and paid on our deposits, we have made the difficult decision to reduce interest rates on our Bonus Saver and Term Deposit accounts.

This decision was not made lightly and we understand that the change will impact our members. Please don't hesitate to contact us on 1300 362 216 for any assistance or questions you may have.

Bonus Saver Account

Effective 1 September 2019

Product

New Rate

Bonus Saver

Base rate - 0.90%                                Bonus rate - 1.20%
Maximum rate - 2.10%

 

Term Deposits

Effective 1 September 2019

Product

New Rate

3 Months i3

1.80% p.a.

4 Months i4

1.70% p.a.

5 Months i5

1.70% p.a.

6 Months i6

1.70% p.a.

7 Months i7

1.70% p.a.

8 Months i8

1.70% p.a.

9 Months i9

1.70% p.a.

10 Months i10

1.70% p.a.

11 Months i11

1.70% p.a.

12 Months i12

1.70% p.a.

13 to 14 Months i13

1.70% p.a.

15 to 24 Months i30

1.65% p.a.

12 to 14 Months i40

1.60% p.a.

15 to 24 Months i50

1.55% p.a.

 

If you have any questions about these changes, please contact our Member Experience Team on 1300 362 216 or email us at info@movebank.com.au.

Interest rates subject to change. All rates quoted are per annum (p.a.) Fees and charges apply.