The Newcastle Permanent Smart Saver Account offers a high special interest rate of 2.4% which will be perfect for earning you as much interest as possible. To earn the special rate you’ll need to grow the balance of the account by at least $150 a month, or if you’re under the age of 25 you’ll need to grow it by just $10 a month, otherwise you’ll receive no interest at all.
Unlike many other online savers you’ll be given the flexibility of making up to two withdrawals each month. Just make you stay under two though, because you won’t receive the 2.4% interest rate if you exceed that.
With no monthly account keeping costs and free internet banking you also won’t have to worry about fees eating away at your interest.
You’ll also receive a Newcastle Permanent Visa Debit card to use with your account so you’ll be able to tap and go using Visa payWave and be protected under Visa’s Zero Liability policy. However, account holders must be over the age of 16 to apply for the card.
Who it's good for:
The Newcastle Permanent Smart Saver Account is good for savers young and old who are able to increase their account balance each month in order to reach the special 2.4% interest rate.
As with most savings accounts, the Smart Saver isn’t made for ATM withdrawals, as a $0.60 ATM fee applies for cash withdrawals within the Newcastle Permanent ATM network.