Interest rates - CUA
 

Interest rates

- Date of issue 20 March 2015

-

Everyday 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. You should read the General Information, Terms & Conditions brochure and the Schedule of Fees before deciding whether to open these accounts.


Everyday Accounts

CUA Everyday Account

This account does not earn interest.

CUA Everyday Youth Account

This account does not earn interest.

CUA Everyday 55+ Account

Conditions: Funds are available on call. Interest is calculated on daily balances and paid monthly. Rate applies on a stepped basis. Interest paid at 0.50%p.a. on balances up to $2,000, at 1.75%p.a. on balances from $2,000 to $48,000, and at 3.25%p.a. on the portion of the balance over $48,000.

Account PortionRate
Up to $2,0000.50%p.a.
$2,000 - $48,0001.75%p.a.
Over $48,0003.25%p.a.

CUA Everyday Business Account

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

Account PortionRate
$0 - $4,9990.01%p.a.
$5,000 - $9,9990.01%p.a.
$10,000 - $19,9990.01%p.a.
$20,000 - $49,9990.01%p.a.
$50,000 and over0.01%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.

TermRateInterest Payment
1 Month2.30%p.a.On maturity
2 Months2.55%p.a.On maturity
3 Months2.80%p.a.On maturity
4 Months2.90%p.a.On maturity
5 Months3.20%p.a.On maturity
6 Months3.05%p.a.On maturity
7-11 Months3.15%p.a.On maturity
1 Year3.10%p.a.On maturity
2 Years3.20%p.a.Annually
3 Years3.25%p.a.Annually

eSaver Plus Account

Conditions: Bonus interest is applied on top of the base rate if deposits totalling at least $200 and no withdrawals are made in the same whole calendar month. Interest is calculated daily on whole balances and paid monthly.


Rate
All balances - maximum rate3.35% p.a.
Base rate 2.50% p.a.
Bonus interest0.85% p.a.

 

Youth eSaver Account

Conditions: Interest is calculated on daily balances and paid monthly. Rate applies on a stepped basis. Interest paid at 5.00%p.a. on balances up to $5,000, then at 2.75%p.a. on that portion of the balance over $5,000.

Account PortionRate
$0-$5,0005.00%p.a.
Over $5,0002.75%p.a.

Cash Management Account

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

Account PortionRate
$0 - $4,9990.10%p.a.
$5,000 - $49,9990.80%p.a.
$50,000 - $99,9992.25%p.a.
$100,000 - $249,9992.50%p.a.
$250,000 & over2.50%p.a.

Closed Accounts

These products are no longer available to new accounts.

Prime Access Account

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

Account PortionRate
$0 - $4,9990.01%p.a.
$5,000 - $9,9990.01%p.a.
$10,000 - $19,9990.01%p.a.
$20,000 - $49,9990.01%p.a.
$50,000 and over0.01%p.a.

Freedom Plus Account

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


Rate
All balances0.01%p.a.

Platinum Plus Account

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

Account PortionRate
$0 - $4,9990.01%p.a.
$5,000 - $24,9990.01%p.a.
$25,000 and over0.15%p.a.

eSaver Account

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


Rate
All balances

 2.75% 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 PortionRate
$0 - $4,9991.01%p.a.
$5,000 - $19,9991.01%p.a.
$20,000 - $49,9991.01%p.a.
$50,000 and over1.01%p.a.

Special Purpose Account

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

Account PortionRate
$0 - $4,9990.01%p.a.
$5,000 - $9,9990.01%p.a.
$10,000 - $19,9990.01%p.a.
$20,000 - $49,9990.01%p.a.
$50,000 and over0.01%p.a.

Christmas Club Account 

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


Rate
All balances0.50%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

ProductInterest rate Comparison rate1
Standard Variable5.15%p.a. 5.21%p.a.
Discount Variable ≥ $250,0005.15%p.a.^ 5.06%p.a.
Basic Variable5.07%p.a. 5.13%p.a.
Basic Variable ≥ $250,0004.97%p.a. 5.03%p.a.
1 Year Introductory Variable#4.77%p.a.* 5.17%p.a.
Equity Line of Credit  5.65%p.a. 
CUA Rate Breaker Package~ 4.65%p.a. 5.00%p.a.
Fresh Start Variable ^^ 4.43%p.a. 4.45%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

ProductInterest rateComparison rate1
1 Year Premium Fixed4.64%p.a.* 5.16%p.a.
2 Year Premium Fixed4.74%p.a.* 5.13%p.a.
3 Year Premium Fixed4.79%p.a.* 5.11%p.a.
5 Year Premium Fixed5.14%p.a.* 5.20%p.a.
1 Year Fixed4.49%p.a.* 5.14%p.a.
2 Year Fixed4.59%p.a.* 5.10%p.a.
3 Year Fixed4.59%p.a.* 5.06%p.a.
5 Year Fixed4.89%p.a.* 5.10%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 loansInterest rateComparison rate2
Variable Rate Personal Loan12.99%p.a.13.84%p.a. 
Fixed Rate Personal Loan11.99%p.a. 12.83%p.a.
Fixed Rate Car loansInterest rateComparison rate3
Vehicles up to 2 years old - $30,000 and above7.99%p.a.8.29%p.a.
Vehicles up to 2 years old - below $30,0008.49%p.a.8.79%p.a.
Used vehicles (2-5 years old)9.49%p.a.9.79%p.a.

Overdraft

ProductRate
"Everyday" overdraft10.90%p.a.
"Just in Case" overdraft13.50%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. 


PurchasesCash
Platinum MasterCard20.24%p.a.21.74%p.a.
Low Rate MasterCard12.99%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 most of CUA's 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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