BankVic Christmas Club S4 Savings Account

BankVic Christmas Club S4 Savings Account

Maximum Variable Rate


Standard Variable Rate


Boost your Christmas savings with an account that ups your balance each month through interest earnings.

  • Plan for Christmas spending in advance
  • Earn a competitive interest rate of 0.85% p.a.
  • Join anytime of year
  • No minimum balance required

Product details

BankVic structures its Christmas Club account with more flexibility than many other options, giving you access to your funds without being penalised. This account can be opened at any time of the year and earns a competitive rate of interest on the full balance. This interest is compounded, which means you can grow your Christmas savings by earning interest on your interest before the holiday season comes around.

Product Name
BankVic Christmas Club S4 Savings Account
Maximum Variable Rate
0.85% p.a.
Standard Variable Rate
0.85% p.a.
Bonus Variable Rate
0.00% p.a.
Monthly Fee
Minimum Opening Deposit
Internet Banking
Phone Banking
Minimum Age Requirement

What are the features and terms of the BankVic Christmas Club S4?

Christmas club accounts are available through a number of Australian financial institutions and are designed to help you avoid holiday shopping debt. If you’re interested in getting one of these accounts, take a look at what features this BankVic account provides so you can compare it to other options.

$0 Monthly account keeping fees

There are no maintenance or account keeping fees for the BankVic Christmas Club account.

Membership application and fee

In order to access the Christmas Club or any other BankVic savings account, you must become a member of the mutual bank. Membership is limited to Australians who work or are related to someone who works in the emergency service industry. This includes police officers, emergency service providers, health care workers and other public service officers. You may also be accepted for membership if you live within five kilometres of a BankVic branch or if an existing member refers you.

If your membership application is accepted, you will be required to purchase 10 shares from the mutual bank at $1 each. This totals $10.

$0 Minimum balance

There are no minimum balance requirements for the Christmas Club account.

Required to link to bankVIC transaction account

You need to have a linked BankVic transaction account to transfer and manage your Christmas Club funds.

How is my interest calculated?

Your entire balance will earn a competitive variable interest rate. Interest is calculated on the daily balance and will be deposited into your account once a month.

Withdrawing money

You are permitted to make withdrawals from your Christmas Club account at any time through internet or mobile banking.

Making deposits

Deposits can be made online, through direct credit, over the phone, in a branch or at a Westpac Bank branch using a deposit book.

Mobile banking app available

A BankVic app is available for iPhone, Android, and Windows devices at their respective online stores. Once installed you can access your account from your mobile phone and even make payments through the PayAnyone feature. You can compare other BankVIC product and services here.


  • $0 monthly account keeping fees
  • $0 minimum balance
  • Internet and mobile banking


  • Only available to members of BankVic credit union
  • Required to purchase 10 shares from the mutual bank

What you’ll need to know before applying

If you are not already a member of the BankVic credit union, you will need to complete an online application for membership before you can open this account. Existing members can find the application online for the Christmas Club S4 account. You also need to meet the following eligibility requirements:

Eligibility to apply online

Some eligibility requirements will have to be met first, including:

  • Minimum age. Membership is exclusive to Australians who have reached the age of 18 or older.
  • Residency requirement. You must be an Australian resident or citizen to be considered for this account.
  • Depository requirement. You will not be obligated to make an initial deposit in order to activate this account.

Documentation for your online application

If you are eligible for the BankVic Christmas Club S4 account, you can start your application. Make sure you have the following documentation readily available:

  • Tax file number. Interest earnings are subject to tax withholding, but by providing BankVic with your tax file number (TFN) it will be applied at the correct rate. If not, the mutual bank is required to withhold tax at the highest marginal rate.
  • Identification. Acceptable identifying documents include your driver’s licence or passport.
  • Member ID. Your BankVic member identification will be required as you complete the application.
  • Bank account information. In order to link the Christmas Club S4 to your transaction account you will need to provide the account number and other details.

What happens after I submit the online application?

As long as you provide BankVic with all of the required information, your account should be activated almost immediately after submitting your application.

Back to top Back to top Back to top

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Privacy & Cookies Policy and Terms of Use, Disclaimer & Privacy Policy.
Ask a question
Go to site