Help & support
The notice period is the amount of time you have to wait before you can access your funds. For example, if you have a 48 hour notice period and give notice today that you want to withdraw some or all of your funds, you’ll need to wait 48 hours before you can access them.
Balance on hold:
Balance on notice:
Balance at call:
All interest is calculated daily on the closing balance of each balance classification. We use the following formula to calculate the interest earned on your Notice deposits - Capital Growth Account (CGA):
(BOH Balance × BOH Interest Rate ÷ 365) +
(BON Balance × BON Interest Rate ÷ 365) +
(BAC Balance × BAC Interest Rate ÷ 365)
Interest is paid into an account of your choice, or deposited into your CGA. If you choose to deposit interest into your CGA, this will be treated as a new deposit into your BOH. You can select to be paid interest with a frequency of monthly, quarterly, semi-annually, or annually. Interest rates are variable and may be zero.
Here’s an example of how interest is calculated:
Jake owns a butcher shop in Brisbane CBD. On 1 January 2023, Jake deposits $10,000 into his CGA with a 7 day notice period. The deposited amount is classified as the ‘Balance on Hold’ (BOH) and earns interest at the BOH interest rate.
On 1 February 2023, Jake receives an invoice for $5,000 to pay his supplier, which is due in 10 days’ time. On this date, he submits a notice to withdraw $5,000. The first day of the ‘Notice Period’ starts on that day, and for the next 7 days, the $5,000 is classified as ‘Balance on Notice’ (BON) and earns interest at the BON interest rate. The remaining funds which have not been put on notice will continue to earn the BOH interest rate.
On 8 February 2023 (7 days), $5,000 is classified as ‘Balance at call’ (BAC) and earns interest at the BAC interest rate. Jake can withdraw $5,000 from his account from this day.
E.g. (illustrative only), Jake’s rates are:
BOH Interest Rate: 1.00% p.a.
BON Interest Rate: 0.50% p.a.
BAC Interest Rate: 0.00% p.a.
Jake has elected for his interest to be paid monthly. On 1 February 2023, his interest is calculated and paid for the previous month as follows:
Interest = [($10,000 × 1.00% ÷ 365) + ($0 x 0.50% ÷ 365) + ($0 x 0.00% ÷ 365)] × 31 days = $8.49
If Jake withdraws his BAC on the due date of his invoice (10th February), his interest for February (there are 28 days in February) is calculated as follows:
Interest = [($5,000 x 1.00% ÷ 365) × 28 days] + [($5,000 x 0.50% ÷ 365) × 7 days] + [($5,000 x 0.00% ÷ 365) × 3 days] = $3.84 + $0.48 = $4.32
*A variable interest rate of 3.25% p.a. is available for Balances on Hold (BOH) on 7 day notice period.
1 For notice periods of 35 days and above, you will need to have a Relationship Manager to apply. 48 hour and 7 day notice periods are not available for Financial Institutions. 35, 60 and 90 days’ notice periods are only available for Financial Institutions at the Bank’s discretion.
2 To operate your Notice deposits - Capital Growth Account, it must be linked to our electronic banking service NetBank or CommBiz. You cannot submit notices through a branch.
If you only require one to sign as method of operation on the account, the CGA can be maintained through either NetBank or CommBiz. If you require more than one to sign as method of operation, CommBiz is required to operate the account.
3 48 hour notice period’ may be otherwise referred to as a ‘2 day notice period’ in various product collateral (CGA). Notices must be submitted before 10pm Sydney time to be processed on the same day. Notices submitted after 10pm Sydney time may be processed the following day and the clock will start once the notice is processed.
4 Notice periods of 35 days or more are variable interest rates linked to the RBA Target Cash Rate, plus or minus a margin. Please contact your Relationship Manager for further assistance.
5 Please refer to ‘What these terms and conditions cover’ in the CGA General Information and Terms and Conditions for further details on the terms of your contract with us, regarding fees that may apply to your account. Generally we’ll credit any funds to your Balance on Hold, and debit fees and charges from your Balance at Call. However, your Balance on Hold or Balance on Notice may also be debited for fees and charges for certain types of transactions. If this happens, the most you’ll be able to withdraw is your available balance, as determined by us, adjusted for these fees and charges (which may be lower than your Balance at Call displayed in your online banking).
The target market for these products will be found within the product’s Target Market Determination.
This information has been prepared without taking into account your individual or business needs and objectives. You can view the Capital Growth Account Terms and Conditions, our Financial Services Guide and the Electronic Banking Terms and Conditions and should consider them before making any decision about these products and services. Bank fees and charges may apply.