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How is interest calculated?

How is interest calculated?

$1000 - $4999.99:
We calculate interest by applying the daily percentage rate to your account balance for the applicable period in the above table. For terms up to 13 months we pay interest on the Maturity Date. For terms over 13 months we pay interest six monthly and on the Maturity Date. For terms over 6 months to 5 years we can pay interest monthly. We calculate interest by applying the daily percentage rate to your account balance for the applicable period in the above table.

Note: A reduced interest rate applies if you break your investment prior to the maturity date.

Please refer to our Product Schedules for more information. These rates are current from the effective date and are subject to change by Greater Bank without further notice. Conditions apply. Please refer to our Terms and Conditions for more information.

 

$5000 +
Calculated by applying the daily percentage rate to your account balance for the applicable period in the above table. For terms up to 13 months interest is paid on the maturity date. For terms over 13 months interest is paid six monthly and on the maturity date. For terms over 6 months to 5 years we can pay interest monthly. We calculate interest by applying the daily percentage rate to your account balance for the applicable period in the above table.

Note: A reduced interest rate applies if you break your investment prior to the maturity date. Please refer to our Product Schedules for more information. These rates are current from the effective date and are subject to change by Greater Bank without further notice. Conditions apply. Please refer to our Terms and Conditions for more information.