Do banks still offer Christmas club savings accounts in Australia?
Yes, on this page we have selected the best Christmas saving accounts in the Australian market that will help you to save for holiday gifts, travel, and celebrations.
What are the features of Christmas savings accounts?
Accounts are usually limited in time. Banks usually charge an early withdrawal fee if you make it until 31 October and provide free access to the account between November and December.
What rates do Australian banks offer for Christmas club accounts?
The interest rate depends on the specific bank and the situation in the banking sector but usually ranges from 2% to 3% per annum.
Calculate income on a savings account for 1 year (example):
| Amount, $ | Rate, % | Income, $ |
| 16 000 | 0,15% | 24,00 |
| 16 000 | 0,15% | 24,00 |
| 16 000 | 0,15% | 24,00 |
| 29 000 | 3,45% | 1 000,50 |
| 29 000 | 3,45% | 1 000,50 |
| 29 000 | 3,45% | 1 000,50 |
| 78 000 | 4,05% | 3 159,00 |
| 78 000 | 4,05% | 3 159,00 |
| 78 000 | 4,05% | 3 159,00 |
