Save to Borrow

Save to Borrow for what’s important to you

Our Save to Borrow offer is designed to help you build up a savings habit and also support a future borrowing requirement, if needed in the future.
As well as getting a great rate on regular savings, you will be building up a history which shows you can put money aside each month. This can be particularly helpful for any future borrowing requirements you may have if you don't have a credit history.
Furthermore, having saved for at least six months, you will then be eligible to apply for a loan with a 9% APR discounted loan rate
 

Remember: Customers with existing savings in another financial institution can transfer these funds today and may also be able to avail of the benefits associated with the Save to Borrow offer.
There are two separate components to this offer:

• The Savings Account Product

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• The Loan Product

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Approval of loan applications is not guaranteed. Standard qualifying criteria, terms and conditions apply to all loan applications. Only regular savings will be considered in determining the loan multiple.
In the event that you take out a Save to Borrow loan at any time, a deposit lien may be placed on some or all of your deposit as security for the loan.
 

The amount of the deposit lien will depend on the amount you borrow, and is at the Bank?s absolute discretion. The deposit lien will prevent cash withdrawals for the portion of your cash deposit under lien, and will be held for the life of the loan. Once the loan is repaid in full, the deposit lien will be removed.
 

Terms and conditions apply to the Save to Borrow deposit account. The maximum amount allowed in the regular savings balance is ?7,000. Once this threshold is reached, ?7,000 is automatically transferred to the lump sum balance. Transfer sweeps of money from the regular savings balance into the lump sum balance are treated as separate to the annual lump sum lodgement limit. Interest is subject to Deposit Interest Retention Tax (DIRT) at the prevailing Rate.
 This invitation may be amended or withdrawn at any stage at the discretion of the Bank.