Border Bank Christmas Club

Border Bank Christmas Club

Maximum Variable Rate


Standard Variable Rate


Finance your Christmas spending with a hybrid savings account and term deposit from Border Bank.

  • Ready funds before Christmas
  • No monthly account keeping fees
  • Competitive interest rate

Product details

The Border Bank Christmas Club savings account can secure your holiday budget so you can have more money Christmas spending. This purpose savings account from Border Bank has the features of a high interest savings account and a term deposit. Earn a competitive rate of interest and avoid temptation to make withdrawals, you’ll incur a fee if you withdraw your funds before the 1st of November.

Product Name
Border Bank Christmas Club
Maximum Variable Rate
1.75% p.a.
Standard Variable Rate
1.75% p.a.
Bonus Variable Rate
0.00% p.a.
Monthly Fee
Minimum Opening Deposit
Minimum monthly deposit for bonus interest rate
Internet Banking
Phone Banking
Covered by Government Guarantee?
Yes (Up to $250,000 per person, per institution)

What are the features of the Border Bank Christmas Club?

  • Save for Christmas. The Christmas Club savings account designed to help you save specifically for Christmas. This savings account is similar to a term deposit, your money is held by Border Bank until the account maturity date. This savings account gives the greatest benefit when you apply right after the Christmas holidays so you have a full year to save.
  • Interest. Earn a flat rate of interest on your Christmas Club balance. This savings account rewards you with 1.75% p.a. on your deposit. Interest is calculated daily and paid annually when the savings account matures on the 31st of October. There is no minimum balance or minimum monthly deposit requirement to earn the full rate of interest.
  • Account maturity. The Border Bank Christmas Club savings account matures on the 1st of November. This is when you can access your money. A $5.00 fee applies if you try and withdraw your money before this date. When the Christmas Club account matures, you can keep the money in the account or you can transfer the funds to another Border Bank savings account.
  • No application or ongoing fees. The Border Bank Christmas Club account costs nothing to open and there are no ongoing monthly account keeping fees. The only fee that applies to this account is the early withdrawal fee if you try and take your money out before the November 1st account maturity date.
  • Making deposits. Keep your Christmas Club savings account balance growing by making regular deposits. You can arrange for a direct credit from your salary and you can make deposits in person by visiting a Police Bank or Border Bank service centre, you can also transfer funds to this savings account from another bank’s online banking facility or through telephone banking. Earn more interest by making regular deposits. Interest is calculated on your account balance daily.
  • Making withdrawals. On the 1st of November when your funds become available, you can roll your savings over to another account or your transfer your money to a transaction account using telephone or Internet banking.
  • Mutual bank. Border Bank is a mutual banking institution and a division of Police Bank. Every customer of Border Bank is a member and mutual banks are owned and operated by members. When you apply for the Border Bank Christmas Club account, you’re required to give a guarantee that you’ll pay $10 in the event Border Bank ever ceases operation.
  • Joint account. You can open the Border Bank Christmas Club jointly in two names.


  • Avoid debt during Christmas
  • Hassle-free deposits
  • Competitive interest rate


  • Can't access funds until November 1

How do I apply for the Border Bank Christmas Club?

You can apply for the Border Bank Christmas Club savings account online by visiting their website. You need to provide your contact information to submit an application for the Border Bank Christmas Club. The application can be completed in under 10 minutes.

  • Contact information. Enter your name, residential address, preferred contact number, email address and date of birth. Also select a time for Border Bank to contact you about your application for the Christmas Club account.
  • Tax File Number. You’re asked to give your Tax File Number (TFN) to Border Bank. If you don’t provide this information, your interest earnings will be taxed at the margin tax rate. The marginal tax rate is the highest personal income tax rate. Provide your tax file number to Border Bank so you can earn the most interest on your Christmas savings.

Once you submit the application for the Christmas Club, a Border Bank representative will be in touch to discuss your application and complete your membership.


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