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Newcastle Permanent Online Savings Account

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Link this account to a Newcastle Permanent Everyday Account and earn up to 1% for the first three months.

The Newcastle Permanent Online Savings Account has no account keeping fees or transaction fees and no minimum balance requirement. You need to have an everyday account, home loan or credit facility with Newcastle Permanent in order to open this savings account.

New account holders can earn up to 1% for the first three months of opening this account.

1% p.a.

Maximum variable rate

0.05% p.a.

Base interest rate

0.95% p.a.

Bonus interest rate

for 3 months

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Details

Product NameNewcastle Permanent Online Savings Account
Maximum Variable Rate1% p.a.
Standard Variable Rate0.05%
Bonus Variable Rate0.95%
Monthly Account Fee$0
Minimum Opening Deposit$0
Minimum Age18

Expert review

Shirley Liu

Review by


Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.

Expert review

This account is cost-effective, convenient and delivers competitive interest rates while still allowing you complete control over how you spend your money.

Key features

No monthly account keeping fees

You will not be charged any monthly account keeping fees with the Online Savings account.

No transaction fees

Zero transaction fees, no matter how you transfer money in or out of the account, except as many apply to international transfers or extra services.

Launch savings calculator


How to apply

If the versatility and features of the Newcastle Permanent Online Savings Account are right for you, you can start an online application.

Eligibility

To save time, you should first check the following eligibility requirements:

  • Minimum age. You and any joint applicant must be at least 18 years of age.
  • Residency requirements. In order to apply for this account you must be an Australian resident with a residential address.

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2 Comments

  1. Default Gravatar
    christine
    March 9, 2017

    With the Newcastle Permanent online savings account, if the standard variable is 1.5% how do I qualify for the 1.5% bonus interest each month

    • Avatarfinder Customer Care
      Dee
      March 9, 2017

      Hi Christine,

      Thanks for your question.

      The bonus rate is only available to new Online Savings Account holders who have not held an Online Savings Account during the last 6 months. The bonus rate of 1.50% p.a. applies for 3 months after account opening, on top of the standard variable interest rate. Also, to get this rate, you must have an Everyday Account, a Home Loan or a Credit Facility with Newcastle at the time interest is applied.

      Cheers,
      Anndy

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