People's Choice Credit Union Christmas Savings Account

People's Choice Credit Union Christmas Savings Account

Maximum Variable Rate


Standard Variable Rate


Your entire holiday wish list can be filled when you plan ahead with a Christmas Savings Account from People’s Choice Credit Union

  • Only get access to your money from 1 November to 31 January
  • No monthly fees
  • No minimum deposit required

Product details

The People’s Choice Credit Union Christmas Savings Account is a convenient way to ensure that the holiday season doesn’t break your budget. Your funds are restricted until Christmas time, giving you more incentive to keep the account growing until then. You are paid interest on the balance, giving you a little more cash during the festive season.

Have a stress free Christmas by taking care of your budget first.

Product Name
People's Choice Credit Union Christmas Savings Account
Maximum Variable Rate
1.00% p.a.
Standard Variable Rate
1.00% p.a.
Bonus Variable Rate
0.00% p.a.
Monthly Fee
Minimum Opening Deposit
Minimum monthly deposit for bonus interest rate
Internet Banking
Internet Transaction Fee
Phone Banking
Phone Transaction Fee
Joint application?
Minimum Age Requirement
Maximum Age Requirement
No Maximum Age
Covered by Government Guarantee?
Yes (Up to $250,000 per person, per institution)

What are the features of the People’s Choice Credit Union Christmas Savings Account?

A Christmas Savings Account provides you with a unique way to make sure that your holiday shopping needs are taken care of, without affecting your everyday financial needs. Compare the features that the People’s Choice Credit Union is offering against the Christmas savings plans from other financial institutions to determine which will give you the most cash for your holiday spending:

  • Monthly fees. With the Christmas Savings Account you will not be charged any monthly or maintenance fees.
  • Interest. This is an interest earning account.
  • Interest calculation. Interest is calculated on the balance everyday and paid into the account on the 31st of October.
  • Accessibility. You can make deposits either online or at a local branch.
  • Restrictions. From the 1st of February until the 1st of November you are not allowed to make any withdrawals from this account. If you do need to make a withdraw you will be penalised with extra fees.
  • Direct credit. You can make regular payments into your account using direct credit of all or a partial amount of your salary.
  • Credit union membership. In order to open an account with People’s Choice Credit Union, you must first become a member.


  • Unlimited free deposits
  • $0 minimum deposit required
  • There is $0 monthly service fee


  • Only accessible from 1 November to 31 January
  • Limited free withdrawals per month

How do I apply for the People’s Choice Credit Union Christmas Saving Account?

People’s Choice Credit Union makes it even easier to make holiday dreams come true by allowing you to apply for the Christmas Savings Account online. Before clicking “Go to Site” and filling out the application, check that you are able to meet the following eligibility requirements:

  • Minimum age. Applicants will have to be at least 13 years old to open the Christmas Savings Account.
  • Residency requirements. Individuals in Australia with a valid work visa are eligible to apply as well as permanent residents and citizens.
  • Depository requirement. People’s Choice Credit Union does not require that you make a minimum deposit when opening the account.

Not only should you check to see if you are eligible first, also make sure that you have the following documentation available in order to ensure that the application is filled in accurately:

  • Tax file number. On any account that earns interest, you can make sure that the withholding tax is correct by providing the financial institution with your tax file number (TFN) or TFN exemption code.
  • Identification. People’s Choice Credit Union will make every effort to confirm your identity online by using your driver’s licence, Australian passport, Medibank Private health insurance or visa and foreign passport if you are a temporary resident.
  • Member id. Becoming a member of the People’s Choice Credit Union is required before you can apply for this account. Membership is open to all Australian residents and costs $2 to join. The application to become a member can also be found on their website.

After your application has been submitted, you will be contacted by People’s Choice Credit Union with your account details, unless more information is required. In that case you may be asked to provide additional documentation.


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