Interest rates

- Date of issue 30 July 2014

-

Everyday Banking and Savings Products

Interest rates are on a per annum basis and are subject to change. Full details of terms and conditions are available on application. A General Information, Terms & Conditions brochure and Schedule of Fees are available from a CUA branch. You should read both these documents before deciding whether to purchase these products.


Transaction Accounts

Prime Access Account

Conditions: Funds are available on call. Interest is calculated daily on whole balances and paid half-yearly.

Account Portion Rate
$0 - $4,999 0.01%p.a.
$5,000 - $9,999 0.01%p.a.
$10,000 - $19,999 0.01%p.a.
$20,000 - $49,999 0.01%p.a.
$50,000 and over 0.01%p.a.

Freedom Plus Account

Conditions: Funds are available on call. Interest is calculated on daily balances and paid half-yearly.


Rate
All balances 0.25%p.a.

 

Pensioner Deeming Account

Conditions: Funds are available on call. Interest is calculated on daily balances and paid half-yearly. Rate applies on a stepped basis. Interest paid at 2.00%p.a. on balances up to $46,600, then at 3.50%p.a. on that portion of the balance over $46,600.

Account Portion Rate
$0 - $46,600 2.00%p.a.
Over $46,600 3.50%p.a.

Savings and Term Deposit Accounts

Term Deposits

Conditions: Minimum investment $5,000. Interest is calculated daily on whole balances. Monthly interest available at a rate 0.15% below the following rates. Retirees and Platinum Plus Club members are, however, eligible for monthly interest on 1, 2 or 3 year deposits at the below rate. Platinum Plus Club members are eligible for an additional 0.15% on 1, 2 and 3 year deposits where they elect interest annually/at maturity.

Term
Rate Interest Payment
1 Month 2.50%p.a. On maturity
2 Months 3.00%p.a. On maturity
3 Months 3.40%p.a. On maturity
4 Months 3.40%p.a. On maturity
5 Months 3.50%p.a. On maturity
6 Months 3.60%p.a. On maturity
7-11 Months 3.70%p.a. On maturity
1 Year
3.70%p.a. On maturity
2 Years
3.80%p.a. Annually
3 Years
4.00%p.a. Annually

eSaver Account

Conditions: Interest is calculated daily on whole balances and paid monthly.


Rate
All balances 3.00%p.a.

 

Youth eSaver Account

Conditions: Interest is calculated on daily balances and paid monthly. Rate applies on a stepped basis. Interest paid at 5.05%p.a. on balances up to $5,000, then at 3.25%p.a. on that portion of the balance over $5,000.

Account Portion Rate
$0-$5,000 5.05%p.a.
Over $5,000 3.25%p.a.

Cash Management Account

Conditions: Interest is calculated daily on whole balances and paid monthly.

Account Portion
Rate
$0 - $4,999 0.10%p.a.
$5,000 - $49,999 1.05%p.a.
$50,000 - $99,999 2.50%p.a.
$100,000 - $249,999 2.75%p.a.
$250,000 & over
2.75%p.a.

Closed Accounts

These products are no longer available to new accounts.

Platinum Plus Account

Conditions: Funds are available on call. Interest is calculated daily on whole balances and paid half-yearly.

Account Portion Rate
$0 - $4,999 0.01%p.a.
$5,000 - $24,999 0.01%p.a.
$25,000 and over 0.90%p.a.

 

Bonus Saver Account

Includes 1.00%p.a. bonus

Conditions: Bonus interest is paid if no debit transactions are made on the account during a calendar month and a deposit of at least $50.00 is made to the account during the same calendar month. Interest is calculated daily on whole balances and paid monthly.

Account Portion Rate
$0 - $4,999 1.01%p.a.
$5,000 - $19,999 1.01%p.a.
$20,000 - $49,999 1.01%p.a.
$50,000 and over 1.01%p.a.

Special Purpose Account

Conditions: Funds are available on call. Interest is calculated daily on whole balances and paid monthly.

Account Portion Rate
$0 - $4,999 0.01%p.a.
$5,000 - $9,999 0.01%p.a.
$10,000 - $19,999 0.01%p.a.
$20,000 - $49,999 0.01%p.a.
$50,000 and over 0.01%p.a.

Christmas Club Account 

Conditions: Interest is calculated on a daily basis and paid annually on all balances.

Rate
All balances 0.50%p.a.

Lending Products

All loans are subject to CUA’s normal lending policy. Fees and charges apply. Refer to Schedule of Fees brochure. Conditions apply to ‘new business only’ offers. Interest rates are on a per annum basis and are subject to change.

Housing Finance Owner/Occupier & Residential Investment

Variable Rates

Product
Interest rate  Comparison rate1
Standard Variable 5.40%p.a.  5.45%p.a.
Discount Variable ≥ $250,000 5.40%p.a.^  5.31%p.a.
Basic Variable 5.32%p.a.  5.37%p.a.
Basic Variable ≥ $250,000 5.22%p.a.  5.27%p.a.
1 Year Introductory Variable# 5.02%p.a.*  5.42%p.a.
Equity Line of Credit   5.90%p.a.  
CUA Rate Breaker Package~  4.91%p.a.  5.25%p.a.
Fresh Start Variable ^^
 4.65%p.a.  4.66%p.a.

# For new business only.
* Reverts to the current standard variable or discount variable rate for loans $250,000 or greater on expiration of the fixed term or introductory period.
^ A loyalty discount rate applies after 3 years.

^^
For new lending only and 80% maximum LVR applies.
~
 A minimum interest rate of 3% applies and may vary.

Fixed Rates

Product Interest rate Comparison rate1
1 Year Premium Fixed 4.99%p.a.*  5.41%p.a.
2 Year Premium Fixed 4.99%p.a.*  5.38%p.a.
3 Year Premium Fixed 4.84%p.a.*  5.30%p.a.
5 Year Premium Fixed 5.30%p.a.*  5.41%p.a.
1 Year Fixed 4.89%p.a.*  5.40%p.a.
2 Year Fixed
4.89%p.a.*  5.36%p.a.
3 Year Fixed 4.69%p.a.*  5.26%p.a.
5 Year Fixed 5.10%p.a.*  5.33%p.a.

*Reverts to the current standard variable or discount variable rate for loans $250,000 or greater on expiration of the fixed term or introductory period.

Personal Loans

All purpose loans Interest rate Comparison rate2
Variable Rate Personal Loan
12.99%p.a. 13.84%p.a. 
Fixed Rate Personal Loan 11.99%p.a.  12.83%p.a.

Fixed Rate Car loans Interest rate Comparison rate3
Vehicles up to 2 years old - $30,000 and above 7.99%p.a. 8.29%p.a.
Vehicles up to 2 years old - below $30,000 8.49%p.a. 8.79%p.a.
Used car (2-5 years old) 9.49%p.a. 9.79%p.a.

Overdraft

Product
Rate
“Everyday” overdraft 10.90%p.a.
“Just in Case” overdraft 13.50%p.a.


1
Comparison rate calculated on a loan amount of $150,000 over a term of 25 years based on monthly repayments. These rates are for secured loans only. 2 Comparison rate calculated on a loan amount of $10,000 over a term of 3 years based on monthly repayments. These rates are for unsecured loans only. 3 Comparison rate calculated on a loan amount of $30,000 over a term of 5 years based on monthly repayments. These rates are for secured loans only.
1,2,3 Warning: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Commercial Finance

Loans for purchase of residential and commercial property
Loans for purchase of businesses
Asset purchase/leasing for vehicles, plant & equipment
Interest rates available on request

CUA MasterCard

Conditions: These interest rates are current as at 1 June 2014 and are subject to change. Fees and charges are payable. 


Purchases Cash
Platinum MasterCard 20.24%p.a. 21.74%p.a.
Low Rate MasterCard 12.99%p.a. 21.74%p.a.

 
Here is a printable version of the current interest rates for CUA loans, credit cards, term deposits and savings accounts.

An explanation of comparison interest rates

On all CUA advertisements for home and personal loans, you will see a ‘comparison rate’ appearing after the interest rate. A comparison rate is a tool designed to help consumers identify the true cost of a loan.

The comparison rate includes the annual interest rate and the upfront and ongoing fees and charges relating to the loan, expressed as a single percentage figure. For example, an advertisement displaying an interest rate of 5.49% p.a. may have a comparison rate of 6.75% p.a.

Under the National Credit Code, all lenders must include a comparison rate, in addition to other prescribed information, when advertising an interest rate.

Compare with caution

Comparison rates can be a useful tool for comparing the overall cost of different loans, however they have some shortcomings. Many add-on features which some members find very valuable are not taken into account in the calculation of the comparison rate.

When choosing a loan, it is important to research the features of each loan to find the product that suits you best. You’ll find all of CUA’s award-winning home loans offer the ability to make additional and lump-sum repayments without penalty, and include free redraws and many other features that are not available from our competitors.

These features are not reflected in our comparison rates.

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