SWSbank Christmas Club Summary

Requirements

• Interest is calculated daily on the total balance and paid annually on 30 November.
• No monthly deposit-count, qualifying deposit-dollar, balance-growth or purchase requirement for the reviewed variable rate. No introductory offer. The current schedule publishes a flat rate without an upper interest-bearing balance cap.
• No monthly account-keeping fee or annual account fee, with a $0 opening minimum. Separate service charges and membership-based excess transaction fees may apply. Free transaction allowances depend on the membership relationship balance, tenure and age, they are not bonus interest conditions.
• Membership and identity checks are required. The account facility includes a primary S1 account, with other accounts activated as needed. Membership requires a share subscription, confirm the current share cost with SWSbank.
• Minimum age is unverified because CDR says 13 and the current Christmas Club TMD says 10. Confirm eligibility directly with SWSbank, particularly for applicants under 13.
• Deposits are accepted from 1 December through 30 November. The current product page and TMD specify that funds are transferred to a nominated account on 1 December after interest is paid on 30 November. CDR and the account summary refer to 30 November availability or maturity, confirm timing if funds are needed on that date.
• Routine withdrawals from Christmas Club are not permitted. The account summary says early access requires closing the facility, which can be reopened after maturity. This seasonal restriction is separate from a monthly withdrawal-count test or a rolling notice period.
• The current TMD lists internet banking and app access for balance enquiries, with direct deposits allowed. It lists no debit card, ATM, EFTPOS, ePay, Osko or BPAY access. Raw CDR NPP features are retained as source evidence but are not presented as payment access for this seasonal account.