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Preschool Long Service & Sick Leave Term Deposit

0.85 % p.a.

Interest rate
($500 and over)

0.85 % p.a.

Interest rate
($500 and over)

Simplify your preschool’s financial obligations

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.

The details:

  • 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

  • Rates
    Interest tier is determined on the whole of balance
    Interest tier is determined on the whole of balance
    Interest rate (p.a.)
    $500 and over
    Interest rate (p.a.)

    1.00%

  • Fees
    One-off fees
    One-off fees
    Amount
    Account keeping fees
    Amount

    $0

    Transaction fees1
    Amount

    $0

    Ongoing fees
    Ongoing fees
    Amount
    Annual fees
    Amount

    $0

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.

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1300 654 822
Important Information
Schools and Preschools Interest Rates effective 23 September 2020.
Interest is calculated daily. Interest rates are per annum, current at the time of printing and are subject to change without notice.
1. Other fees and charges may apply.