Interest Rates Schools and Preschools
Effective date 8 October 2026
School Accounts
| Account | Interest Rate (p.a.) |
|---|---|
| Everyday School Account (S55)
Interest tier is determined on the whole of balance. | |
| $0 - $4,999 | 0.05% |
| $5,000 and over | 2.40% |
Preschool Accounts
| Account | Interest Rate (p.a.) |
|---|---|
| Day to Day Account (S41)
Interest tier is determined on the whole of balance. | |
| $0 - $14,999 | 0.05% |
| $15,000 - $29,000 | 0.05% |
| $30,000 and over | 0.05% |
| Preschool Savings Account (S46)
Interest tier is determined on the whole of balance. | |
| $0 - $4,999 | 0.05% |
| $5,000 and over | 4.30% |
| Account | Interest Rate (p.a.) |
|---|---|
| Fundraising Account (S43) | |
| $1 and over | 4.15% |
| Petty Cash Account (S44) | |
| $1 and over | 0.05% |
| Long Service and Sick Leave Provisions Account (S47)2 | |
| $1 and over | 4.30% |
School Term Deposits
| Term Interest Rate (p.a.)1 | 30 - 90 days (I4) | 120 - 180 days (I5) |
|---|---|---|
| $5,000 - $99,999 | 4.95% | 5.30% |
| $100,000 and over | 4.95% | 5.30% |
Preschool Term Deposits
| Term Interest Rate (p.a.)1 | 30 - 90 Days (I41) | 120 - 180 Days (I43) | Long Service and Sick Leave Term Deposit (I40) |
|---|---|---|---|
| $500 - $4,999 | N/A | N/A | 5.50% |
| $5,000 - $99,999 | 4.95% | 5.30% | 5.50% |
| $100,000 and over | 4.95% | 5.30% | 5.50% |
Important Information
Interest Rates effective 8 October 2026.
If you would like further information about any of our products and services or fees and charges, please call one of our Member Service Consultants on 1300 654 822 or visit www.bankfirst.com.au. The Terms and Conditions for Bank First basic deposit products (accounts) and non-cash payment facilities (payment facilities), consist of two sections:
The Terms and Conditions brochures provide information about our accounts and payment facilities to help you make an informed decision when considering applying for them. You should read the Terms and Conditions carefully before applying. Terms and Conditions for loan accounts are available upon request.
Interest is calculated daily. Interest Rates are per annum, current at the time of printing and are subject to change. This page is applicable to the entire Interest Rates page. Please visit www.bankfirst.com.au or ask our friendly banker for the full copy of the Terms and Conditions.
- Subject to our Terms and Conditions an interest rate penalty reduction applies on early withdrawals.
- At the end of each quarter, the balance will be transferred into the Preschool Long Service and Sick Leave Term Deposit. Fees and charges apply. Terms and Conditions are available on request or at www.bankfirst.com.au.
Head Office
117 Camberwell Rd Hawthorn East VIC 3123 | PO Box 338 Camberwell VIC 3124 | info@bankfirst.com.au | 1300 654 822