We kindly ask that you fund your application within the specified timeframe (this information can be found in the product fact sheet) in order to receive the rate you applied for. In the event that the bank changes the interest rate of the savings account, you will be notified in advance by email. In order to secure the rate for the savings account, we kindly ask that you fund your application as soon as possible and before the date and time specified in the email.
The interest rate applicable to your savings account is fixed once your application is approved and you fund your account. The rate will stay the same throughout the duration of the fixed term.
Please note that when a rate decreases (unless a bank chooses otherwise), any unfunded fixed term bond orders will be revoked on the day of the projected rate change. If you fund your fixed term bond account at the lower rate following a rate decrease, a 14-day cooling off period will apply. Please refer to the product fact sheet for further details.
It is important to keep in mind that your bank may have a daily transfer limit or a limit per transaction. You may be able to temporarily adjust this limit by speaking to your bank, but you should take any transaction limits into account to ensure that you allow enough time for transferred deposits to clear your Transaction Account before the funding window elapses. Funds remaining in your Transaction Account will not accrue interest, and it can take up to two business days from when your full deposit amount is available in your Transaction Account until your savings account opens and begins accruing interest.