Interest Rate Updates (savings accounts)

September 2023

Interest Rate Updates (savings accounts) - September 2023

Following a recent review, Beyond Bank will be making changes to interest rates on select savings accounts, effective Tuesday 26 September 2023.

As a customer-owned bank, we regularly review interest rates, where we carefully consider the needs of all our customers to ensure we make a balanced decision for those with both loan and deposit products. The tables below show the applicable rate changes.

Current Savings Accounts.

From Tuesday 26 September 2023, Beyond Bank’s advertised Savings Accounts Interest Rates will be as follows;

Retirement Account

Tier

Current Total Rate (% p.a.)*

New Total Rate (% p.a.)*

Change (% p.a.)

$0 - $4,999

1.15

1.15

No Change

$5,000 - $48,599

1.55

1.35

-0.20

$48,600 +

2.00

1.80

-0.20

 

Community Reward Account

Tier

Current Total Rate (% p.a.)*

New Total Rate (% p.a.)*

Change (% p.a.)

$0 - $4,999

2.20

2.00

-0.20

$5,000 - $199,999

2.50

2.30

-0.20

$200,000 +

2.75

2.55

-0.20

 

monEsaver Internet Account

Tier

Current Total Rate (% p.a.)*

New Total Rate (% p.a.)*

Change (% p.a.)

$0 - $4,999

2.40

2.20

-0.20

$5,000 - $199,999

2.70

2.50

-0.20

$200,000 +

2.95

2.75

-0.20

 

Grandfathered Savings Accounts.

These grandfathered accounts rates apply to existing accounts. These accounts are no longer available as a new product.

From Tuesday 26 September 2023, Beyond Bank’s advertised Savings Accounts Interest Rates will be as follows;

Everyday 55 Account

Tier

Current Total Rate (% p.a.)*

New Total Rate (% p.a.)*

Change (% p.a.)

$0 - $4,999

1.15

1.15

No Change

$5,000 - $48,599

1.55

1.35

-0.20

$48,600 +

2.00

1.80

-0.20

 

We're here to help.

Beyond Bank has more than 275,000 customer-owners. 21,000 have loan accounts and 16,000 hold term deposits. Because our customers own the bank, all monies generated by the organisation are reinvested into the business to provide products and services and maintain the bank’s strong capital position.

We are very mindful of cost-of-living pressures and their impact on people today, and that interest rates can have a significant influence on this. We will always take an approach based on working with our owner-customers in a caring and supportive way.

If you would like assistance to review your account needs, please send us a message using the Secure Mailbox in your Banking App or Internet Banking. Otherwise, call us at 13 25 85, option 4 to speak to our specialist team.

For general tips and resources for your financial wellbeing, please visit beyondbank.com.au/financial-wellbeing.html

 

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*Rate is subject to bonus criteria being met. Where criteria are not met, base rate on the account type would be applicable and can be found on our website.

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