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 2021
|CALENDAR MONTH||BANK MONTH PERIOD|
|January 2021||Thurs, 31 Dec - Thurs, 28 Jan|
|February 2021||Fri, 29 Jan - Thurs, 25 Feb|
|March 2021||Fri, 26 Feb - Tues, 30 Mar|
|April 2021||Wed, 31 Mar - Thurs, 29 Apr|
|May 2021||Fri, 30 Apr - Fri, 28 May|
|June 2021 *||Mon, 31 May - Tues, 29 Jun|
|July 2021||Wed, 30 Jun - Thurs, 29 Jul|
|August 2021||Fri, 30 Jul - Mon, 30 Aug|
|September 2021||Tues, 31 Aug - Wed, 29 Sep|
|October 2021||Thurs, 30 Sep - Thurs, 28 Oct|
|November 2021||Fri, 29 Oct - Mon, 29 Nov|
|December 2021||Tues, 30 Nov - Thurs, 30 Dec|
- 29 and 30 May 2021 will be processed on 31 May 2021 and count towards the June bank month.