Transaction Accounts

Footnotes:

• ¹ Rather than attracting interest on your at-call deposit account, which may be taxable income, The Mutual reduces the balance of your loan for interest calculation purposes by the amount held in your 100% Loan Offset Account each month. In this way, funds held in your deposit account are saving you interest on your loan account. This can be a tax effective means of holding cash available for all your transaction needs, while minimising the interest on your loan.
• ² Both the Loan Saver and 100% Offset type of account have been approved by the Australian Taxation Office only on the basis that no interest is earned. The interest offset accrues on these accounts up to the point where the balance of the account equals the balance owing on the home loan. No interest offset accrues on the portion of the balance of the Loan Saver or 100% Loan Offset Account which exceeds the balance outstanding on the loan.
• ³ Interest is calculated by applying the daily percentage rate to the different portions of the daily balance and paid monthly on the last day of each month. The daily percentage rate is the applicable annual percentage rate divided by 365. Penalty Interest will be charged at a rate of 20.00% per annum on overdrawn savings accounts. This penalty interest will be calculated daily and charged on a monthly basis.
• ⁴ Interest is calculated by applying the daily percentage rate applicable to the daily balance to the entire balance. Interest is not credited to your account but interest which would otherwise be payable is offset against the interest charged each month on your loan. The daily percentage rate is the applicable annual percentage rate divided by 365. Penalty Interest will be charged at a rate of 20.00% per annum on overdrawn savings accounts. This penalty interest will be calculated daily and charged on a monthly basis.
• ⁵ Interest is calculated by applying the daily percentage rate to the daily balance and paid monthly. Bonus Interest of 10% of the amount of interest earned is payable if there are no withdrawals for the month.* The daily percentage rate is the applicable annual percentage rate divided by 365.
• ⁶ Interest is calculated by applying the daily percentage rate applicable to the daily balance to the entire balance and paid on the last day of every month. Interest will be calculated and paid if there has been at least one deposit and no withdrawals on the account during the calendar month. Interest credits from this account do not constitute a deposit. If this condition is not met, no interest will be paid for that month. The daily percentage rate is the applicable annual percentage rate divided by 365.
• ⁷ Interest on Term Deposits is calculated by applying the daily percentage rate to the account balance and paid at intervals as specified in the tables above. A reduced interest rate applies if term deposits are redeemed before Maturity Date. The reduced interest rate is 0.10% per annum calculated from the date the account was opened to the date of early redemption. The daily percentage rate is the applicable annual percentage rate divided by 365.
• ⁸ The interest rate offered to you will be personalised depending on our credit assessment of your financial situation. The interest rate shown is the minimum interest rate that may be applicable.
• ⁹ Comparison rate is based on a secured loan of $30,000 over 5 years. WARNING: 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.