Compare Newcastle Permanent Savings Accounts

Information verified correct on December 8th, 2016

Whatever your financial goals are for the future, Newcastle Permanent has a savings plan that will help you meet them.

The largest mutual bank in New South Wales, Newcastle Permanent has been a financial fixture in that region for over 110 years. By sticking with a customer owned model of banking, profits are reinvested back into the institution in order to provide their members with valuable savings accounts that encourage financial growth.

Rates last updated December 8th, 2016
$
Monthly Account Fee Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Details
Newcastle Permanent Everyday Account
No monthly account keeping fees if you maintain a certain balance.
Visa $0 $1,800 Unlimited free Newcastle Permanent transactions including Westpac Group ATMs Australia wide. More
Newcastle Permanent Statement Savings Account
Offers a range of option to help you easily manage your banking needs.
Visa $0.50 $0 No monthly account keeping fee with access to Newcastle Permanent ATMs and over 3,000 Westpac Group ATMs Australia-wide (fees apply). More
Newcastle Permanent Special Monthly Interest Account
A statement or passbook account for pensioners, retirees and over 55's.
Visa $0.50 $0 No monthly fee, free internet, mobile and phone banking. Access to Newcastle Permanent ATMs and over 3,000 Westpac Group ATMs Australia-wide. More
Newcastle Permanent Mortgage Offset Account
Save on home loan interest payments with an offset account.
Visa $0.50 $0 No account keeping fee with no transaction fees including Newcastle Permanent and Westpac Group ATMs. More
Rates last updated December 8th, 2016
$
$
months
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
Newcastle Permanent Online Savings Account
Ongoing, variable 1.90% p.a. when you link to the Newcastle Permanent Everyday Account. Available on the entire balance.
1.90% 1.90% $0 $0 / $0 More
Newcastle Permanent Rapid Saver
Ongoing, variable 0.65% p.a. when you link to a Newcastle Permanent Premium Plus Package. Available on the entire balance.
0.65% 0.65% $0 $0 / $1 More
Newcastle Permanent Rapid Saver Statement
Ongoing, variable 2.00% p.a. when you link to a Newcastle Permanent Premium Plus Package. Available on the entire balance.
2.00% 2.00% $0 $0 / $1 More
Newcastle Permanent Money Minder Savings Account
A great way to teach your children good savings habits.
1.75% 1.75% 0.00% $0 $50,000 / $1 More
Newcastle Permanent Christmas Club Account
Designed to help you save for Christmas – enjoy a debt-free Christmas this year.
0.05% 0.05% 0.00% $0 $0 / $1 More
Rates last updated December 8th, 2016
$
3 Mths p.a. 4 Mths p.a. 6 Mths p.a. 12 Mths p.a. 24 Mths p.a. 36 Mths p.a. 48 Mths p.a. 60 Mths p.a. Min Deposit Interest Earned
Newcastle Permanent Term Deposit
Newcastle Permanent Term Deposit
2.00% 2.00% 2.00% 2.00% - - - - $1,000 More
Rates last updated December 8th, 2016
$
Monthly Account Fee Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Details
Newcastle Permanent Everyday Account
No monthly account keeping fees if you maintain a certain balance.
Visa $0 $1,800 Unlimited free Newcastle Permanent transactions including Westpac Group ATMs Australia wide. More
Newcastle Permanent Statement Savings Account
Offers a range of option to help you easily manage your banking needs.
Visa $0.50 $0 No monthly account keeping fee with access to Newcastle Permanent ATMs and over 3,000 Westpac Group ATMs Australia-wide (fees apply). More
Newcastle Permanent Special Monthly Interest Account
A statement or passbook account for pensioners, retirees and over 55's.
Visa $0.50 $0 No monthly fee, free internet, mobile and phone banking. Access to Newcastle Permanent ATMs and over 3,000 Westpac Group ATMs Australia-wide. More
Newcastle Permanent Mortgage Offset Account
Save on home loan interest payments with an offset account.
Visa $0.50 $0 No account keeping fee with no transaction fees including Newcastle Permanent and Westpac Group ATMs. More
Rates last updated December 8th, 2016
$
$
months
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
Newcastle Permanent Online Savings Account
Ongoing, variable 1.90% p.a. when you link to the Newcastle Permanent Everyday Account. Available on the entire balance.
1.90% 1.90% $0 $0 / $0 More
Newcastle Permanent Rapid Saver
Ongoing, variable 0.65% p.a. when you link to a Newcastle Permanent Premium Plus Package. Available on the entire balance.
0.65% 0.65% $0 $0 / $1 More
Newcastle Permanent Rapid Saver Statement
Ongoing, variable 2.00% p.a. when you link to a Newcastle Permanent Premium Plus Package. Available on the entire balance.
2.00% 2.00% $0 $0 / $1 More
Newcastle Permanent Money Minder Savings Account
A great way to teach your children good savings habits.
1.75% 1.75% 0.00% $0 $50,000 / $1 More
Newcastle Permanent Christmas Club Account
Designed to help you save for Christmas – enjoy a debt-free Christmas this year.
0.05% 0.05% 0.00% $0 $0 / $1 More
Rates last updated December 8th, 2016
$
3 Mths p.a. 4 Mths p.a. 6 Mths p.a. 12 Mths p.a. 24 Mths p.a. 36 Mths p.a. 48 Mths p.a. 60 Mths p.a. Min Deposit Interest Earned
Newcastle Permanent Term Deposit
Newcastle Permanent Term Deposit
2.00% 2.00% 2.00% 2.00% - - - - $1,000 More
Awards that Newcastle Permanent has earned
  • Building Society of the Year – Awarded in 2015 by Money Magazine

Who is Newcastle Permanent?

Newcastle Permanent provides customers with plenty of options to meet their savings needs. You will find online accounts, low and no fees and a number of accounts designed specifically for certain goals. Compare what Newcastle Permanent has to offer against the savings accounts of larger banks to see if they are able to provide you with the best benefits for a secure home for your money.

What transaction accounts are offered by Newcastle Permanent?

  • Everyday Account. When you are able to make a minimum deposit of at least $1,800 monthly, or have a credit facility or home loan with Newcastle Permanent, you are charged no monthly fees. What you will get is easy access to your money with a Visa debit card that can be used for free at any Newcastle Permanent ATM or one of Westpac’s 3,000 ATMs around Australia.
  • Special Monthly Interest Account. This is an everyday account designed for Australians aged 55 or older. Your balance is earning interest, and you decide whether you want to bank with the statement option or a passbook if your preference is banking over the counter.

What high interest savings accounts are offered by Newcastle Permanent?

  • Statement Savings Account. The Statement Savings Account gives you the best of both worlds, earning interest on your daily balance while providing you with card access and online banking where you can set up to pay your bills and have your salary deposited.
  • Online Savings Account. With an everyday account, home loan or credit facility with Newcastle Permanent, you can open a high interest earning online savings account and pay no monthly fees. There is no minimum deposit requirement or restrictions  on withdrawals in order to receive the competitive rate.
  • Rapid Saver. With one deposit made monthly, and no withdrawals, you are able to increase your savings with a competitive interest rate. Interest is calculated daily on the balance and paid into the account monthly, allowing you to further your earnings with interest being paid on interest already earned.
  • Money Minder Account. With an initial deposit of $1, kids up until the age of 12 can learn the value of good savings habits. Children are given a passbook to help them watch their money grow, but you can also manage this account through online banking for free.
  • Christmas Club Account. To help with the expense of the holidays, you can have a portion of your pay deposited directly into the account, or make your own deposits and have the money available to you in November. Interest is calculated monthly, and paid into the account three times a year. If you wish to make a withdrawal, you will need to close the account and possible pay a penalty for the interest earned.
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What term deposits are offered by Newcastle Permanent?

  • Term deposit. With an initial investment of $1,000, you can choose terms ranging from one month to one year and watch your money multiply at a competitive interest rate. Interest is paid when the term matures, but you can opt for monthly payments if you invest $20,000 for at least three months.
  • Gold term deposit. This is an investment savings account for balances of $200000 or more. Terms start at 21 days and go all the way to five years, with the interest rate increasing for longer terms. There is no fee for this term deposit, which can be managed through online banking.
  • Platinum term deposit. With an investment of $500,000, you can get the benefit of a high interest earning term deposit combined with the convenience of an on call savings account.  A minimum of $200,000 is held in the fixed rate term account, while the remaining balance is always available to you, while earning a competitive rate of interest.
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What are the pros and cons to banking with Newcastle Permanent?

Pros

  • Flexibility. The various savings accounts offered provide you with the flexibility to choose one that is right for your financial goals.
  • Online option. The online savings account provides you with a bonus rate and no fees just for taking advantage of other products from Newcastle Permanent.
  • Accessibility. You have more accessibility to your money through the free use of Westpac’s ATM network.

Cons

  • Bonus interest. In order to be eligible for bonus interest with the Rapid Saver, you have to be able to meet the conditions monthly.
  • Region based. Newcastle Permanent is based in NSW, with all of their branches confined to that area.
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How do I apply for Newcastle Permanent savings account?

In ten minutes, you can apply for a savings account from Newcastle Permanent online.

  • Details. You will need to provide your name, address, phone number and email address.
  • Identity confirmation. You don’t have to be a current member to apply, but if you are not one you will need to verify your identity either at a local branch or Bank@Post Australia Post Office.
  • Submission. Once the application has been submitted you will receive a confirmation email, with further details on proving your identity.

If you are an existing member of Newcastle Permanent, you should receive your account details in just a few days. If not, you will have to wait until the identity verification process is complete. Ensure that you have carefully compared their accounts with other financial institutions before going forward with your application.

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Standard Variable Rate

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2.75%

Standard Variable Rate

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Standard Variable Rate

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