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Business Account Interest Rates

Business Cheque

Effective Date: 3 July 2023

Business Cheque Account Interest Rate
Up to $2,000 0.00% p.a.
Over $2,000 to $5,000 0.00% p.a.
Over $5,000 to $20,000 0.00% p.a.
Over $20,000 to $50,000 0.00% p.a.
Over $50,000 0.01% p.a.

 

 

Business Maximiser

Effective Date: 3 July 2023

Business Maximiser Interest Rate
Up to $10,000 0.00% p.a.
$10,000 and over 1.70% p.a.
$20,000 and over 1.70% p.a.
$50,000 and over 1.70% p.a.
$100,000 and over 1.75% p.a.
$500,000 and over 1.85% p.a.
$1,000,000 and over 1.85% p.a.  

 

 

Farm Management Deposit

Effective Date: 20 February 2024

Investment Term Interest Payment Frequency Minimum $1,000
3 months at maturity 3.25% p.a.  
6 months at maturity 4.25% p.a.  
12 months at maturity 4.40% p.a.  
24 months annually 4.30% p.a.

 

 

Internet Saver Business

Effective Date: 17 November 2023

Internet Saver – Business Account Interest Rate
Over $5,000 (maximum $1,000,000) Min. $5,000 2.00 % p.a.  

 

 

Trust Accounts

Effective Date: 17 November 2023

Real Estate Trust Account Interest Rate
Over $1 3.92% p.a.

 

Solicitors Trust Account and Solicitors Trust Statutory Deposit Account Interest Rate
Over $1 3.95% p.a.

 

Conveyancers Trust Account Interest Rate
Over $1 3.92% p.a.

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Important Information

Interest is calculated by applying the daily percentage rate to the different portions of the daily balance as set out and paid 6 monthly on 30 June and 31 December.*
This is Part 3 – Deposit Interest Rate Schedule of the Product Disclosure Statement (PDS). It must be read in conjunction with:
Part 1 - Key Features and Terms and Conditions and Part 2 - Schedule of Fees and Charges and Transaction Limits.
You should consider the PDS in its entirety in deciding whether to acquire or continue to hold any of the products the subject of the PDS.
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
** Interest on Farm Management 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 Farm Management Deposits are redeemed before Maturity Date. The reduced interest rate is 0.50% per annum calculated from the date the account was opened to the date of early redemption.

Footnotes:

    

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Any advice or information on this site does not take into account your personal objectives, financial situation, or needs and you should consider whether it is appropriate for you. Please review our Product Disclosure Statement, Target Market Determinations, Terms and Conditions, Financial Services Guide, and Credit Guide before deciding to acquire a product.

Eligibility and lending criteria, conditions, fees, and charges apply to all loans. Interest rates, fees, and charges may change without notice. Information is current as at date of appearance and is subject to change. We use reasonable efforts to provide accurate and up to date information. However, mistakes may still occur from time to time and we cannot guarantee that this website is free from any errors, inaccuracies or omissions. Maitland Mutual Limited trading as The Mutual Bank ABN 94 087 651 983 AFSL/Australian credit licence 238139.

The Mutual Bank acknowledges the Traditional Custodians of Country across Australia and recognises their continuing connection to lands, waters and communities. We pay our respects to Aboriginal and Torres Strait Islander cultures and to Elders past and present.