Newcastle Permanent Smart Saver Account

Newcastle Permanent Smart Saver Account

Maximum Variable Rate

3.00

Standard Variable Rate

3.00

Kickstart your savings and enjoy quick and easy access to your funds with a Smart Saver Account from Newcastle Permanent.

  • Earn a competitive interest rate
  • Allows up to two withdrawals per month
  • World wide access using visa debit card

Product details

Combining a competitive bonus variable interest rate of 0.00% p.a. with a Visa debit card and easy access to your funds, the account balances savings power with the convenience of being able to make withdrawals when you need cash. As long as you deposit at least $150 each month and make no more than two withdrawals, you can access the account’s generous bonus interest rate.

If you’re looking for a high-interest savings account that pays bonus interest to help you reach your savings goal as quickly as possible, the Newcastle Permanent Smart Saver Account is worth a closer look.

Product Name
Newcastle Permanent Smart Saver Account
Maximum Variable Rate
3.00% p.a.
Standard Variable Rate
3.00% p.a.
Bonus Variable Rate
0.00% p.a.
Introductory / Bonus Offer Conditions
Interest is earned if your balance is at least $150 higher and you make no more than 2 withdrawals for that month.
Monthly Fee
$0
Minimum Opening Deposit
$0
Minimum monthly deposit for bonus interest rate
$150
Internet Banking
Yes
Internet Transaction Fee
$0
Phone Banking
Yes
Minimum Age Requirement
18
Covered by Government Guarantee?
Yes (Up to $250,000 per person, per institution)

What are the features of the Newcastle Permanent Smart Saver Account?

Receive 3.00% p.a. if you meet the conditions below

The Smart Saver Account pays a competitive interest rate of 3.00% in every month that you increase your balance by $150 into your account and make no more than 2 withdrawals.

Special conditions for people under the age of 25

There’s also a special Smart Saver Account for people under 25 years of age that offers less strict deposit requirements in order to access bonus interest. Smart Saver Account holders who are under 25 only need to deposit at least $10 per month and make no more than two withdrawals if they want to earn bonus interest.

Interest calculated daily

Interest on your Newcastle Permanent Smart Saver Account is calculated daily and credited to your account on the last day of each month.

No account-keeping fees

There are no ongoing service or account-keeping fees attached to the Smart Saver.

Visa debit card

When you open a Newcastle Permanent Smart Saver Account you will receive a Visa debit card. You can use this card to access the funds in your account anywhere in the world where Visa is accepted.

Withdrawals allowed

Unlike some savings accounts that do not allow you to make any withdrawals if you want to earn bonus interest, the Smart Saver Account allows up to two withdrawals per month without affecting your interest-earning capability. This is very convenient if you ever need urgent access to the funds in your account.

Internet and mobile banking access

You can deposit and withdraw funds from your Newcastle Permanent Smart Saver Account 24 /7 via Internet and mobile banking. You can also set up automatic transfers from your transaction account so that you are regularly contributing to your savings account. Compare other Newcastle Permanent products.

Launch savings calculator

Pros

  • No account-keeping fees
  • Internet and mobile banking access

Cons

  • Available to Australian residents

What you’ll need to know before applying

If you’d like to open a Newcastle Permanent Smart Saver Account, click on one of the “Apply now” links on this page. You will be securely redirected to the Newcastle Permanent website and an online application form. However, before starting the form, make sure you meet the following eligibility criteria.

Eligibility criteria

  • Minimum age. You must be at least 18 years of age to open a Smart Saver Account.
  • Residency requirements. The account is only available to permanent Australian residents.
  • Depository requirements. In order to earn maximum interest, you will need to deposit at least $150 per month (or $10 per month for people under 25 years of age) and not make any withdrawals.

Documentation required

  • Tax File Number. Providing your Tax File Number is not mandatory but will ensure that Newcastle Permanent doesn’t withhold tax on the interest earned in your account.
  • Identification. Acceptable forms of ID include your driver’s licence or passport.
  • Other info required. You will also need to provide your name, email address, residential address and Australian mobile number.

What happens next?

Once your application has been submitted and approved, your account will be opened and you will be sent a Visa debit card as soon as possible so you can begin accessing your account.

The Newcastle Permanent Smart Saver Account offers a number of benefits suitable for anyone looking for a flexible high-interest savings account. Compare it with other high-interest savings accounts at finder.com.au to ensure that you find the right account to help you reach your financial goals.

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