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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 2019

CALENDAR MONTHBANK MONTH PERIOD
January Mon 31 Dec 2018 - Wed 30 Jan 2019
February Thu 31 Jan - Wed 27 Feb
March Thu 28 Feb - Thu 28 Mar
April Fri 29 Mar - Mon 29 Apr
May Tue 30 Apr - Thu 30 May
June Fri 31 May - Thu 27 Jun
July Fri 28 Jun - Tue 30 Jul
August Wed 31 Jul - Thu 29 Aug
September Fri 30 Aug - Fri 27 Sep*
October Mon 30 Sep - Wed 30 Oct
November Thu 31 Oct - Thu 28 Nov
December Fri 29 Nov - Mon 30 Dec
* Transactions made on 28 and 29 September 2019 will process on Monday, 30 September 2019. This counts towards your October bank month.