Money magazine's Best of the Best Awards 2009, Gold Winner, Best First Home Saver Account, Bank Category^
- Earn a high 8.00% p.a.* on every dollar
- No account keeping fees
- No minimum monthly balance required
- Boost your savings with an extra 17.00% contribution from the Government (based on your contributions of up to $5,000 each financial year)
- Contributions will be tax free
- Investment earnings (or interest) will be taxed at 15%
The Members Equity Bank First Home Saver Account provides a simple way for Australians to save for their home with the help of Government contributions and low taxes.
Your savings will earn a high rate of interest from Members Equity Bank in addition to the 17.00% p.a. Government contribution on your first $5,000 saved in each financial year. This means the Government could pay up to $850 into your account each year.
While there is no minimum contribution required to earn interest on your balance from Members Equity Bank, you must save a minimum of $1,000 per financial year to receive a Government contribution.
Once you have held the account for a minimum of four financial years, you can withdraw your savings tax free to buy or build your first home to live in. Find out more about eligibility.
For more information about how the Members Equity Bank First Home Saver Account can help you into your first home faster, click here or call 13 15 63.
http://www.membersequity.com.au/personal/savings_accounts/first_home_saver.html
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