Managing finances and staff entitlements for a preschool can be complex, but they don’t have to be. That’s why Bank First offers the Long Service and Sick Leave Term Deposit.
Keeping entitlement funds separate ensures safety, security and knowledge that when staff changes happen your money won’t get mixed up and lost. Plus, a competitive interest rate means that you know your preschool's money is actually working for you.
Each quarter, the balance of the Account is transferred into a Term Deposit, earning a higher rate of interest to ensure funds are saved for staff entitlements.
Easily access and manage funds via Internet and Phone Banking.
No transaction fees so more funds can be attributed to these provisions.1
Deposits made throughout the year will be invested to mature on the maturity date of 1 September each year. You can also choose to maximise your compound interest earnings by re-investing. Rollover investments will have a 1 year term.
Rates & fees
Interest tier is determined on the whole of balanceInterest tier is determined on the whole of balanceInterest rate (p.a.)$500 and overInterest rate (p.a.)
One-off feesOne-off feesAmountAccount keeping feesAmount
$0Ongoing feesOngoing feesAmountAnnual feesAmount
Ready to Apply
Applying for a Term Deposit for your preschool is a journey you shouldn't go through alone. Our Relationship Officers are here to talk with you about your school's unique circumstances.
Terms and Conditions
1. Other fees and charges may apply.