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.
- 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.
- 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 and Fees
Long Service & Sick Leave Term Deposit (I40) Interest Rates Rate $500 - $4,999 2.55% p.a. $5,000 - $99,999 2.55% p.a. $100,00 and over 2.55% p.a.
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