Advantage Saver’s interest is made up of a base interest rate and bonus interest rate. You don't need to meet any eligibility criteria to receive the base interest rate.
To earn bonus interest, you’ll need to make sure your account balance at the end of the month is at least $250 higher than it was at the start of the month. The $250 can’t include interest we’ve paid to you.
Here are some examples to help explain:
In this example, the balance has decreased by $750 from the opening balance. This means you aren't eligible for bonus interest as you haven’t increased your balance by $250 at the end of the month.
In this example, the balance at the end of the month has increased by $250 from the opening balance. Congratulations, you’re eligible for bonus interest.
In this example, you’ve withdrawn money from your account, but you‘ve deposited enough to increase the closing balance by the minimum $250 needed to earn bonus interest. Congratulations.