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Designed by Zynke Design


Effective: 01 September 2016


At Call and Target Accounts

Access Account (S01)
$ 5,001 and over 0.02%
$1 - $5,000 Nil%

Interest is calculated on the minimum monthly balance and paid on 1 April. Interest is paid on that part of balance within the tiered rate.
 
On Call Savings (S02)
$50,001 and over 1.25% p.a.
$30,001 - $50,000 0.25% p.a.
$5,001 - $30,000 0.05% p.a.
$1 - $ 5,000 0.02% p.a.

Interest is tiered and the interest is calculated daily on that part of the balance within the tiered rate.
 
Deeming Account (S55)
$49,201 and over 3.25% p.a.
$1 - $49,200 1.75% p.a.

You must be over the age of 65 and in receipt of a pension or social security income. The interest rate is tiered and paid on that part of the balance within the tiered rate. The interest rate reflects the Government Deeming Rate, is calculated on the daily balance and credited twice yearly on 1 January and 1 July. Your savings are available at call.
 
Christmas Club Account (S12)
$1 and over 1.25% p.a.


Your savings plus interest is paid first week in December and interest is calculated on the minimum monthly balance.

 
Achiever Savings Account (I88)
$200 and over 2.05% p.a.

Additional deposits of $50 (min) are accepted at the same interest rate and will mature on the same date as original deposit. Interest is calculated daily and paid on maturity. Terms are from 6-24months.

Fixed Term & Notice Withdrawal Accounts
Income Accounts
30 Day Notice (S30)
$40,001 and over 2.30% p.a.
$10,001 - $40,000 1.05% p.a.
$5,001 - $10,000 1.05% p.a.
Monthly Income Fixed Term Accounts
  $5,000 -
$9,999
$10,000 -
$24,999
$25,000 -
$49,999
$50,000+
12 Month
Term (I30)
1.05%p.a. 1.55%p.a. 1.80%p.a. 2.30%p.a.
24 Month
Term (I32)
1.05%p.a. 1.55%p.a. 1.80%p.a. 2.30%p.a.

Interest is calculated daily and paid by cheque or compounded monthly. Minimum balance of $5,000 must be maintained.
 
Term Deposits
  $500 -
$4,999
$5,000 -
$9,999
$10,000 -
$24,999
$25,000 -
$49,999
$50,000 - $400,000
3 Month
Term (I03)
1.25%p.a. 1.30%p.a. 1.55%p.a. 1.80%p.a. 2.05%p.a.
6 Month
Term (I06)
1.25%p.a. 1.30%p.a. 1.55%p.a. 2.05%p.a. 2.30%p.a.
9 Month
Term (I09)
1.25%p.a. 1.30%p.a. 1.55%p.a. 1.80%p.a. 2.05%p.a.
12 Month
Term (I12)
1.25%p.a. 1.55%p.a. 1.55%p.a. 2.05%p.a. 2.30%p.a.
24 Month
Term (I24)
1.25%p.a. 1.55%p.a. 1.55%p.a. 2.30%p.a. 2.55%p.a.

Interest is calculated daily and paid on maturity
.
 
Rainy Day Account (I90)
$10,000 minimum account balance 1.80% p.a.

Rate fixed for three months
and reviewed 3 monthly. Funds are available on 7 days written notice. Interest is calculated daily and paid quarterly or upon full redemption.
 
Cash Management Account (S07)
$5,000 < $19,999 0.55% p.a.
$20,000 < $49,999 0.80% p.a.
$50,000 < $99,999 1.05% p.a.
$100,000 < $249,999 1.30% p.a.
$250,000 & Over 1.55% p.a.

Interest rate fixed weekly each Wednesday. Deposits fixed for 7 days. Thereafter funds will be made available on 24 hours written notice. Interest calculated daily and paid quarterly. A minimum account balance of $5,000 must be maintained.
Mortgage Loans
 
*comparison
rate
Home/Equity Loan
5.05% p.a.
*5.10% p.a.
Investment Loan
5.05% p.a.
*5.10% p.a.
Reverse Mortgage Loan
6.49% p.a.
*6.65% p.a.
Accommodation Deposit Loan
6.29% p.a.
*6.45% p.a.

* Comparison rate calculated on $150,000 loan over 25 years+
 
 
Car Loans

For a car up to 4 years old and borrowing $10,000 or more.

7.49% p.a.
*7.69% p.a.

For a car 5 - 7 years old and borrowing $10,000 or more.

8.49% p.a.
*8.69% p.a.

* Care should be taken in using this comparison rate. The comparison rate is calculated on $30,000 loan over 5 years. All loans secured by the motor vehicle. This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.
 
   
Personal Loans
Unsecured $10,001 - $30,000
The comparison rate based on $30,000 over 5yrs.
10.90% p.a.
*11.08% p.a.
Unsecured $5,001 - $10,000
The comparison rate based on $10,000 over 3yrs.
11.90% p.a.
*12.78% p.a.
Unsecured $1,000 - $5,000
The comparison rate based on $5,000 over 2yrs.
14.90% p.a.
*17.50% p.a.

* Care should be taken in using this comparison rate. The comparison rate is accurate only for the example given as other factors including government fees and charges, redraw fees or fees for early repayment, may influence the final cost of the loan.
 

 

 

Line of Credit
Line of Credit 14.90% p.a
A continuing credit arrangement up to $5,000
• There is no qualifying period for loans and most loans are approved within 24 hours.
• No Penalty for additional loan repayments
• No Penalty for early loan payout
• Interest Rates are variable
An establishment fee applies to all approved loans
Personal Loans $125
Mortgage Loans set up cost* $695
Reverse Mortgage Loans set up cost* $1050
Accommodation Deposit set up cost* $1050
*Excluding Government Fees and Charges  


Terms & Conditions are available on application. Fees & charges apply to all loans Comparison rate schedules are available for your perusal and collection at our branch.

+ Credit is available for these amounts for the Accommodation Deposit Loans but not for this term. The law requires this specific term for the calculations of comparison rates.

This is a Supplementary Product Disclosure Statement (SPDS) containing important information regarding MyLife MyFinance's Current Interest Rates. MyLife MyFinance recommends that you read this SPDS in conjunction with the Product Disclosure Statement it supplements; (PDS - for financial products, general information relevant to all products and non-cash payment products and services and their related Terms and Conditions), before deciding to acquire the service. This SPDS has been prepared to assist you with the understanding of the significant features of the service to enable you to make informed choices about the service before you acquire it.

These rates are per annum and current at the time of going to print and subject to change and conditions as outlined in our Terms & Conditions booklet which can be obtained at Head Office or by ringing 9629 4484.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rates as at
01 September 2016

All loan rates are variable unless noted.

* Care should be taken in using this comparison rate. The comparison rate is accurate only for the example given as other factors including government fees and charges, redraw fees or fees for early repayment, may influence the final cost of the loan.