Newcastle Permanent Smart Saver Account

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

Earned interest on your balance and get a a Visa debit card for easy access to your funds. This 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. Plus, you'll earn even more interest if you're under 25.

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0.4% p.a.

Maximum variable rate

0.4%p.a.

Base interest rate

$150

Minimum deposit

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Details

Product NameNewcastle Permanent Smart Saver Account
Maximum Variable Rate0.4% p.a.
Standard Variable Rate0.40%
Monthly Account Fee$0
Minimum Opening Deposit$0
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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

This savings account offers a higher bonus interest rate if you're under 25. The conditions you need to meet to earn interest are easier than some others in the market, however, the interest rate is also lower.

Key features

Receive 0.4% p.a. if you meet the conditions below

The Smart Saver Account pays an interest rate of 0.4% 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 a higher interest rate and 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.

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How to apply

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

  • Minimum age. You must be at least years of age to open a Smart Saver Account.
  • Residency requirements. The account is only available to permanent Australian residents.

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2 Comments

    Default Gravatar
    Anne
    November 13, 2017

    I would like to open an account for my child (age 14). I would like a (the under 25)savings account, where half his pocket money goes, (that he does not have access to at the moment) and a fee free account with a card for the other half. Is this possible?

      Default Gravatar
      Arnold
      November 13, 2017

      Hi Anne,

      Thanks for your inquiry

      As stated above, There’s is a special Smart Saver Account for people under 25 years of age that offers less strict deposit requirements in order to access bonus interest. You’ll also enjoy no account keeping fees and an interest rate of 2.60% in every month that you increase your balance by $150 into your account and make no more than 2 withdrawals.

      Hope this information helps

      Cheers,
      Arnold

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