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Receiving bonus interest on Rapid Save each bank month

To receive bonus interest on your Rapid Save balance, you must meet the following conditions each bank month:

  • Your balance (excluding any interest paid) on the last day of the bank month must be the same or greater than at the start of the bank month.
  • You must not make more than one withdrawal during the bank month.

Remember, you can make one free withdrawal per bank month.

Understanding the bank month

A bank month is different from a calendar month. 

A bank month runs from the last business day of the previous calendar month to the second to last business day of the current calendar month.

Bank months in 2020

CALENDAR MONTHBANK MONTH PERIOD
December 2019 Fri 29 Nov - Mon 30 Dec 2019
January 2020 Tues, 31 Dec 2019 - Thurs, 30 Jan 2020
February Fri, 31 Jan - Thurs, 27 Feb
March Fri, 28 Feb - Mon, 30 Mar
April Tues, 31 Mar - Weds, 29 Apr
May Thurs, 30 Apr - Thurs, 28 May
June Fri, 29 May - Mon, 29 Jun
July Tues, 30 Jun - Thurs, 30 Jul
August Fri, 31 Jul - Fri, 28 Aug
September * Mon, 31 Aug - Tues, 29 Sep
October Weds, 30 Sep - Thurs, 29 Oct
November Fri, 30 Oct - Fri, 27 Nov
December * Mon, 30 Nov - Weds, 30 Dec
* Transactions made on the below dates:
  • 29 and 30 August 2020 will be processed on 31 August 2020 and will count in September bank month.
  • 28 and 29 November 2020 will be processed on 30 November 2020 and will count towards December bank month.