First Home Saver Account
- Gold winner for Money magazine's Best of the Best Awards 2009, Best First Home Saver Account^
- 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% 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%
Members Equity Bank is excited about helping first home buyers, by supporting the Australian Government's new initiative, and helping you save for your first home with a Members Equity Bank First Home Saver Account.
The Members Equity Bank First Home Saver Account will provide a simple way for Australians to save for their home with the help of Government contributions and low taxes.
There is no minimum contribution required, and all your savings will earn a high rate of interest of 8.00% p.a.* in addition to the 17% Government contribution each year. The Government contributions are calculated on your first $5,000 of contributions each year. This means the Government will pay up to $850 to your account each year.
Generally, to access your savings, you will need to make a minimum contribution of $1,000 each year for at least four financial years (these do not need to be made in consecutive years). Withdrawing your savings is tax-free, when used to buy or build your first home to live in. Find out more about eligibility.
So if you're thinking about saving for your first home, the Members Equity Bank First Home Saver Account can help you get there faster.
^ Money magazine's Best of the Best Awards 2009, Gold winner, Best First Home Saver Account
* Interest rate will be fixed until 28-Feb-2009. After 28-Feb-2009, the interest rate reverts to the standard variable FHSA interest rate which is currently 8.00% p.a. and is subject to change.
The information on this website is of a general nature only and has been prepared without taking account of your objectives, financial situation and needs. Before acting on the information, you should consider the appropriateness of the information having regard to your objectives, financial situation and needs.
To obtain a copy of the Product Disclosure Statement for the Members Equity Bank First Home Saver Account, please call Members Equity Bank on 13 15 63. You should consider the Product Disclosure Statement in deciding whether to acquire, or continue to hold, a Members Equity Bank First Home Saver Account.
The Members Equity Bank First Home Saver Account is issued by Members Equity Bank Pty Ltd (ABN 56 070 887 679 AFS Licence: 229500).
For information about First Home Saver Accounts generally you may wish to visit the ATO website or the ASIC website.
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