^ The 2.10% p.a. Online Bonus Saver rate is made up of a 0.10% p.a. base interest rate + 2.00% p.a. bonus interest rate. It is current as at 1 June 2017 and is subject to change without notice (including Official Cash Rate changes).
*The additional rate is calculated on the daily balance of the deposit or deposits made and is paid on the last business day of each month. The return from the additional 0.70% p.a. will appear on your monthly account statement as a separate entry. The additional 0.70% p.a. is limited to a deposit or deposits not exceeding $500,000.
** The Effective Return is the rate you would need to receive from a regular savings account in order to achieve the same after tax return from your Online Bonus Saver PIE account, based on a PIR of 28% and an Income Tax Rate of 33%.
To operate an Online Bonus Saver or Online Bonus Saver PIE account, you must hold a Westpac transaction account. Any transfers from your Online Bonus Saver or Online Bonus Saver PIE account can only be made directly to your transaction account.
The Online Bonus Saver PIE is offered under the Westpac Cash PIE Fund (the “Fund”). Investments made in the Fund do not represent bank deposits or liabilities of Westpac New Zealand Limited (“Westpac NZ”) or any other member of the Westpac group of companies, and are subject to investment and other risks. None of BT Funds Management (NZ) Limited (as manager), any member of the Westpac group of companies nor any other person guarantees the performance or returns of, or repayment of capital by the Fund. Any rates of return are subject to change. Westpac NZ’s General Terms and Conditions (including online banking terms) apply to investments in the Fund and Westpac NZ transaction accounts. You can get more information and free copies of the Disclosure Statement for Westpac NZ, the term sheet for the Fund and Westpac NZ’s General Terms and Conditions from any Westpac branch. A copy of the Trust Deed for the Fund can be accessed here, and a copy of the latest audited PIE Financial Statements here.