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Interest is calculated daily on the portion of the balance within each balance bracket. Dream Fund bonus interest is paid when your closing balance for the month is greater than the opening balance of your account for that month, excluding any interest credited to your account on that day. For details of base and bonus rates and bonus interest criteria on our legacy savings accounts please see our Deposit Accounts Interest Rate brochure. 

Yes, the account will be in the name of the child, but a parent/guardian can be added as a Third Party Operator to the account. For more information refer to our Opening Accounts for Minors brochure. 

The Financial Claims Scheme (FCS) is an Australian Government scheme that provides protection and quick access to deposits in banks, building societies and credit unions in the unlikely event that one of these financial institutions fails. Under the FCS, certain deposits are protected up to a limit of $250,000 for each account holder at any bank, building society, credit union or other authorised deposit-taking institution (ADI) that is incorporated in Australia and authorised by the Australian Prudential Regulation Authority (APRA). The FCS can only come into effect if it is activated by the Australian Government when an institution fails. Once activated, the FCS will be administered by the Australian Prudential Regulation Authority (APRA). In an FCS scenario, APRA would aim to pay the majority of customers their protected deposits under the Scheme within seven calendar days.