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Bank First Christmas Club Account

Alison Banney
Alison Banney
Last updated:  

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

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.

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Details

Product NameBank First Christmas Club Account
Maximum Variable Rate0.3% p.a.
Standard Variable Rate0.30%
Monthly Account Fee$0
Minimum Opening Deposit$0
Minimum Age18

Key features

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.

Launch savings calculator

How to apply

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

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.

Expert review

Alison Banney

Review by

Alison Banney is the banking and investments editor at Finder. She has written about finance for over six years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.

Expert review

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.

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