BSB 704-191
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Long Service and Sick Leave Provisions

Managing finances and staff entitlements for a preschool can be complex, but they don’t have to be. That’s why Bank First offers the Long Service and Sick Leave Provisions account.

Simplify the management of staff entitlements

By keeping these funds separate it will be simpler to reconcile and manage the books.

4.30%p.a
$1 and over
Apply nowCall 1300 654 822

The details

  • No transaction fees

    So more funds can be attributed to these provisions.¹

  • Easily access

    Easily access and manage funds via Internet Banking.

  • Earn higher rate of interest

    Each quarter, the balance of the Account is transferred into a Term Deposit, earning a higher rate of interest to ensure funds are saved for staff entitlements.

Rates and Fees

  • Interest tier is determined on the whole of balance

     

    Interest rate (p.a.)

    $1 and over

    4.30%

     

  • One-off Fees

     

     

    Account keeping fees

    $0

    Transaction fees1

    $0

    Ongoing Fees

     

     

    Annual fee

    $0

     

Ready to Apply?

Applying for a preschool account is a journey you shouldn’t go through alone. Our Relationship Officers are here to talk with you about your school’s unique circumstances.

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Terms and Conditions

 

Important Information

Schools and Preschools Interest Rates effective 5 February 2025.

Interest is calculated daily. Interest rates are per annum, current at the time of printing and are subject to change without notice.
Each quarter, the balance of this Account is transferred into a Long Service and Sick Leave Term Deposit, earning a higher rate of interest to ensure funds are saved for staff entitlements.
1. Other fees and charges may apply.