| | Investment Account
| Smart Saver
| Term Deposit | Christmas Club Acc.
| Education Saver
|
How can this account help?
| A great account for building up your savings, and rewarding good saving
| A great account to encourage saving
| One way to make your money work for you
| Helps with saving for Christmas expenses
| Designed to assist with saving for educational expenses
|
How is interest calculated?
| Calculated daily on whole balance. A tiered rate is applied
| Calculated on minimum monthly balances
| Calculated daily, paid quarterly, six monthly, annually or at maturity. Conditions apply
| Calculated on minimum monthly balance
| Calculated on daily balances
|
Is there a minimum balance?
| No
| No
| Yes - $500
| No
| No
|
When can funds be accessed?
| Funds are at call
| Funds are at call
| Funds can only be accessed at the end of the term. Terms are available from 3 months to 2 years
| Funds are transferred to Choice 6 Account or Savings 0 Account on 1st November each year
| Withdrawals allowed only after 2 years and only once per school term
|
How can funds be accessed?
| Internet Banking, Phone Banking, or over the counter at your local branch
| Internet Banking, Phone Banking, or over the counter at your local branch | At the end of the term you choose if and how to roll over the funds
| Check balances via internet and phone banking and over the counter at your local branch
| Check balances and make deposits via internet and phone banking or at counter
|
When is interest paid?
| Monthly | Quarterly
| Either quarterly, six monthly, annually or at maturity
| Paid into Choice or Passbook Savings account on 1st November each year
| Monthly
|
| What are the key features? | Higher rate of interest which increases the more you save.
Your funds are at call.
| Pays a good rate of interest from minimum balances.
Your funds are at call
| Investment product with a fixed term, paying a competitive rate of interest
| Good rate of interest. Use in combination with a direct debit to encourage saving
| Special rate of interest. Use in combination with a direct debit to encourage saving
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