News Bonus Saver now even better!
First Option has made the Bonus Saver (S14) account simpler for Members, providing a greater incentive for you to save. Here are the changes from 1 December 2011:
- 1. Reduced number of tiers from six to three
- 2. Changes to the Base interest rate, i.e. what you earn as a minimum
- 3. Increased the Bonus interest rate from 4.00% to 5.00% (see table below)
| Deposit Balance | Interest rates from 1 December 2011 | |||||
| Minimum | Maximum | Base Rate | Bonus Rate | Maximum Rate* | ||
| $0 | $1,999 | 0.00% | 5.00% | 5.00% | ||
| $2,000 | $24,999 | 0.30% | 5.00% | 5.30% | ||
| $25,000 | and over | 0.50% | 5.00% | 5.50% | ||
| * This rate applies when Bonus interest of 5.00% is applied to new base rates | ||||||
Please note that we have not changed the conditions to qualify for Bonus interest. To receive your Bonus interest, simply deposit $100 or more and make no withdrawals each month.
To open a Bonus Saver account and set up a regular transfer, please contact our friendly Member Service team or apply online. Once the account has been opened, you can ask First Option for your unique 9 digit account number. This allows you to deposit directly to your Bonus Saver account, or you can give this number to your payroll department.
