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Business Banking Interest Rates

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Business Cheque Account

Effective Date: 1 September 2020

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 0.01% p.a.
Over $20,000 to $50,000 0.05% p.a.
Over $50,000 0.05% p.a.

 

 

Business Maximiser

Effective Date: 1 September 2020

Business Maximiser Interest Rate
Up to $10,000 0.00% p.a.
$10,000 and over 0.10% p.a.
$20,000 and over 0.10% p.a.
$50,000 and over 0.10% p.a.
$100,000 and over 0.10% p.a.
$500,000 and over 0.25% p.a.
$1,000,000 and over 0.25% p.a.  

 

 

Farm Management Deposit

Effective Date: 25 August 2020

Investment Term Interest Payment Frequency Minimum $1,000
3 months at maturity 0.75% p.a.  
6 months at maturity 0.85% p.a.  
12 months at maturity 1.00% p.a.  
24 months annually 1.05% p.a.

 

 

Internet Saver - Business

Effective Date: 1 September 2020

Internet Saver – Business Account Interest Rate
Over $5,000 (maximum $1,000,000) Min. $5,000 Max. $1,000,000 0.15 % p.a.  

 

 

Trust Accounts

Effective Date: 5 June 2020

Real Estate Trust Account Interest Rate
Over $1 0.225% p.a.

 

Solicitors Trust Account Interest Rate
Over $1 0.35% 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 rate1 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. Interest rates and credit fees and charges may change without notice. Please review our Product Disclosure Statement, Financial Services Guide and Credit Guide before acquiring the product.

 Maitland Mutual Limited trading as The Mutual Bank ABN 94 087 651 983 AFSL/Australian Credit Licence 238139