Interest rate change for Instant Access Savings
Can my variable interest rate change?
Instant Access Savings have variable interest rates. We reserve the right to change the interest rates at our discretion. This can be influenced by changes to the cash rate set by the Reserve Bank of Australia (RBA).
If we change the interest rate (both increase or decrease), we will tell you about the change no later than the day the change occurs. We'll always show the interest rate that applies to your savings in-app. You can get more information by tapping 'Info' and viewing your in-app 'Documents'.
When are changes to my interest rate applied?
When your rate changes, you’ll start earning the new rate the next day. Your interest is calculated using that day's starting rate and closing balance, and is paid into your account the day after.
If you switch to a plan with a different interest rate, you’ll start earning the new rate the following day.