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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 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
* Transactions made on the below dates:
  • 29 and 30 May 2021 will be processed on 31 May 2021 and count towards the June bank month.