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0.50 % p.a.

Interest rate
($1 and over)

0.50 % p.a.

Interest rate
($1 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 Provisions account.

By keeping these funds separate it will be simpler to reconcile and manage the books. And when staff changes happen? There’s no chance of your money getting mixed up in different accounts.

The details:

  • No transaction fees so more funds can be attributed to these provisions.1

  • Easily access and manage funds via Internet and Phone Banking.

  • 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.

Feel good knowing your bank gives back

We’re a true alternative to the big 4, and as a customer-owned bank, we put our customers first. We’re proud to support those who make a difference in the community through the Bank First Community Fund. 

Learn more
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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.)
    $1 and over
    Interest rate (p.a.)

    0.50%

  • 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 School Account is a journey you shouldn’t go through alone. Our Relationship Officers are here to talk with you about your school’s unique circumstances and recommend the best account for your needs.

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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.
Each quarter, the balance of this Account is transferred into a Long Service and Sick Leave Term Deposit, earning a higher rate of interest to ensure funds are saved for staff entitlements.
1. Other fees and charges may apply.