Savings account vs term deposit
Newcastle Permanent Smart Saver Account (under 25) vs term deposit
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Interest over 1 year on $50,000
$3,000
6.00% a year, conditions met
$2,700
5.40% a year · paid at maturity
Over 1 year on $50,000, Newcastle Permanent Smart Saver Account (under 25) pays $3,000 with its conditions met; Newcastle Permanent's 12-month term deposit pays $2,700.
Worked out on $50,000 until you pick a balance
Newcastle PermanentSmart Saver Account (under 25)
Newcastle PermanentTerm deposit
Figure by figure
Interest over 1 year
on $50,000
$3,000
with its conditions met
+$300 · More interest over the term
$2,700
paid at maturity
Interest over 1 year without meeting the conditions
on $50,000
$25
at the base rate
$2,700
no monthly conditions
Rate over the term
a year, on $50,000
6.00%
with its conditions met
+0.60 · Higher rate over the term
5.40%
fixed for the term
Asked of you each month
- A balance that ends the month higher than it started
- At most 2 withdrawals
Nothing
the money stays put
Getting the money out
Any time
a withdrawal can cost that month’s bonus
Locked for 1 year
31 days’ notice to break it early, usually at a lower rate
Can the rate change?
Yes, at any time
the bank sets it
No
fixed for 1 year
Minimum to open
None
$1,000
Who can open it
Anyone under 25
Anyone
How they differ
- A savings rate can change at any time. Newcastle Permanent Smart Saver Account (under 25)'s figure holds today's rate for 1 year.
- A term deposit's rate is fixed for the term, but the money is locked in: breaking it early needs 31 days' notice and usually costs some of the interest.
- Both are covered by the Financial Claims Scheme, up to $250,000 per person at each bank. Money in both at Newcastle Permanent shares that one $250,000.
Newcastle Permanent Term Deposit at every term
The rate the balance above gets at each term, and the interest it pays over that term.
1 monthPaid at maturity1.00%$42
2 monthsPaid at maturity1.00%$83
4 monthsPaid at maturity3.75%$625
5 monthsPaid at maturity3.75%$781
7 monthsPaid at maturity3.60%$1,050
8 monthsPaid at maturity3.60%$1,200
9 monthsPaid at maturity3.60%$1,350
10 monthsPaid at maturity3.60%$1,500
11 monthsPaid at maturity3.60%$1,650
1 yearPaid at maturity5.40%$2,700
3 yearsPaid annually3.75%$5,625
4 yearsPaid annually3.55%$7,100
5 yearsPaid annually3.55%$8,875
As of 2 November 2026, over 1 year on $50,000, Newcastle Permanent Smart Saver Account (under 25) pays $3,000 with its monthly conditions met; Newcastle Permanent's 12-month term deposit pays $2,700 at 5.40%. Figures are the bank's published rates, worked out on the balance above as simple interest. Each row says which figure is higher; it doesn't say which one suits you.