Increased returns on Savings Accounts and Term Investments

30 May 2023

People’s Choice has further increased returns for a range of savings products and term investments, following the Reserve Bank’s recent decision to lift the official cash rate.

These include higher interest rates for our most popular savings accounts:

• Young Saver – lifted to 4.65% p.a. (Base + Bonus)
• Dream Fund – lifted to 4.60% p.a. (Base + Bonus)
• Bonus Saver – lifted to 4.00% p.a. (Base + Bonus)

At the same time, People’s Choice has also increased or maintained rates on all term investment products from 1-month to 2-year terms.

Among the increases, returns on a 3-month term investment have been lifted by 0.50% p.a. to 3.25% while 6-month deposits have been increased to 4.00% p.a.

All changes for term investments and savings accounts will come into effective on 1 June 2023.

For any member feeling financial pressure, we have a range of support materials available through our financial wellbeing hub, the home loan FAQs page on our website and via our extensive network of lending specialists.