Bank First Christmas Club Account

Bank First Christmas Club Account

Maximum Variable Rate


Standard Variable Rate


Take some of the financial stress out of the festive season with a Christmas Club Account from Bank First.

  • Earn flat rate of interest regardless of how much you deposit each month
  • $0 account-keeping fees
  • No access to savings until November

Product details

Christmas can be a particularly stressful time of year for your finances. From buying gifts for loved ones to catering for parties or a Christmas lunch, the costs can quickly add up over the festive season. To help relieve the strain on your bank account over Christmas, Bank First offers the Christmas Club Account. It offers a competitive interest rate to help you save, and it’s easy to set up a regular deposit or to organise salary crediting to boost your savings balance.


But the best part is that you can’t access your savings until the first business day in November. So no matter how tempted you are to blow your savings on other purchases throughout the year, your money will still be sitting in your account when the festive spending season begins.

Product Name
Bank First Christmas Club Account
Maximum Variable Rate
1.00% p.a.
Standard Variable Rate
1.00% p.a.
Bonus Variable Rate
0.00% p.a.
Monthly Fee
Minimum Opening Deposit
Internet Banking
Internet Transaction Fee
Phone Banking
Phone Transaction Fee
Minimum Age Requirement

What are the features of the Bank First Christmas Club Account?

Competitive interest rate

The Bank First Christmas Club Account pays a competitive flat interest rate on your savings balance. This rate applies regardless of how much you deposit into your account each month.

Interest paid quarterly

Interest on your Bank First Christmas Club Account is calculated daily and paid quarterly.

Regular deposits

It’s quick and easy to set up a regular deposit from your transaction account into your Christmas Club Account or set up a direct salary credit into your savings. This helps you save money without even realising it.

No access to savings until November

You can’t access your savings until the first business day of November, when you can withdraw your funds (except for the interest). This removes the temptation to dip into your Christmas savings throughout the year.

Funds transferred to our Everyday Account in December

The entire balance of your Christmas Club Account, including the interest you have earned, will be automatically transferred into your linked Bank First Everyday Account on the first business day in December.

One withdrawal per quarter

You can make one withdrawal per quarter from your Christmas Club Account. Making any further withdrawals will result in your savings account being closed and any remaining balance being transferred to your transaction account.

No ongoing fees

There are no ongoing account-keeping fees attached to this account, which means that all the money you save can go towards your Christmas spending.

No minimum opening deposit

You do not need to meet any minimum deposit requirements when you open an account, and there is no requirement to meet monthly deposit requirements.

Launch savings calculator


  • Earn flat rate of interest rate regardless of how much you deposit each month.
  • $0 account-keeping fees


  • No access to savings until November
  • One withdrawal per quarter

What you’ll need to know before applying

If you need a little help saving for Christmas and the Christmas Club Account sounds like the perfect solution, click one of the “Apply now” links on this page. You will be redirected to the Bank First to read the account terms and conditions and begin the application process.

Eligibility to apply online

Before you apply, make sure you meet the following eligibility criteria:

  • Minimum age. You must be at least 18 years old to open a Christmas Club Account.
  • Residency requirements. You must also be an Australian resident.

Once you’re a customer of the bank, you can apply for a Christmas Club Account in the following ways:

  • Via Internet banking. You can open a Christmas Club Account by clicking on “Open Savings Account” under the Services menu.
  • By post. Complete an application form available on the bank’s website and return it to the relevant postal address.

The Bank First Christmas Club Account is certainly worth considering if you need some relief from the financial stress of Christmas. Compare its features with those of other savings accounts to help make your next Christmas as affordable and stress-free as possible.

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