This account balances savings power with the convenience of being able to make withdrawals when you need cash. As long as you grow your savings balance each month and make no more than two withdrawals, you can earn the bonus interest rate. Plus, you'll earn even more interest if you're under 25.
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Newcastle Permanent Smart Saver Account
- Maximum variable rate
- 4.50% p.a.
- Base interest rate
- 0.05%p.a.
- Minimum deposit
- $150
Our verdict
Kickstart your savings and enjoy quick and easy access to your funds with a Smart Saver Account from Newcastle Permanent.
This savings account offers a higher bonus interest rate if you're under 25. The conditions you need to meet to earn interest are easier than some others in the market, however, the interest rate is also lower.
Pros
-
No account-keeping fees
-
Internet and mobile banking access
Cons
-
Available to Australian residents
Details
Key details
| Product Name | Newcastle Permanent Smart Saver Account |
| Maximum Variable Rate | 4.50% p.a. |
| Standard Variable Rate | 0.05% p.a. |
| Monthly Account Fee | $0 |
| Minimum Opening Deposit | $0 |
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Alison Finder
Editor
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Alison Banney Finder
August 23, 2023
Hi Peta, you’ve reached Finder not Newcastle Permanent. Please get in touch with the bank directly to speak about your application.
Werner
August 20, 2023
My kids are 9 and 7. Can I open savings accounts for them or are they too young? They would only get access to the account at around age 14 or so.
Alison Banney Finder
August 23, 2023
Hi, this account has a Youth option for customers under 25. Parents/guardians can be given authority to operate the account until the child turns 14 and can request sole access.
Anne
November 13, 2017
I would like to open an account for my child (age 14). I would like a (the under 25)savings account, where half his pocket money goes, (that he does not have access to at the moment) and a fee free account with a card for the other half. Is this possible?
Arnold
November 13, 2017
Hi Anne,
Thanks for your inquiry
As stated above, There’s is a special Smart Saver Account for people under 25 years of age that offers less strict deposit requirements in order to access bonus interest. You’ll also enjoy no account keeping fees and an interest rate of 2.60% in every month that you increase your balance by $150 into your account and make no more than 2 withdrawals.
Hope this information helps
Cheers,
Arnold
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Peta
August 20, 2023
Wanting to open a high interest account for my mother. She does not have a passport or drivers liscence. What else would you accept