Bonus interest is paid on balances up to $250K per customer.

For Shared accounts, we apportion 50% of the account balance to each customer. This means you and your Partner in Finance can have up to $500k in a Shared account and still earn bonus interest.

What if you have both a Shared and Individual Save account?

In this scenario, if you have a Shared Save account with $200K and an individual Save account with $100K, half of the Shared Save account balance ($100K) and your individual Save balance ($100K) will go towards your bonus interest limit ($250K). This means that you would have used $200K of your 250K bonus interest limit.

Bonus interest is applied on account balances in this order:

• Shared Save balances (if you have more than one Shared Save account, the highest balance first), then
• Individual Save balances (if you have more than one Individual Save account, the highest balance first).
• If required, we’ll also look at the account opening date, prioritising the oldest account.

Interest is still calculated daily and paid monthly based on balances up to $250K. Each day, we’ll check your account balances and calculate the interest for each Save account using the following formula: (Daily closing balance x (applicable interest rate / 365) = Interest accrued on that day). At the end of the month, we’ll add them up and pay it to your Save accounts.