SMSF Saver S40

An ideal way to manage the cash component of your SMSF investment, enabling you to grow your super whilst enjoying the flexibility of access to your funds.

Benefits

You can enjoy the following benefits:

  • earn a great rate of interest on your funds
  • no account-keeping or management fees
  • unlimited transactions via the branch, automated telephone banking, BPAY, cheque and online transactions
  • no minimum deposit required
  • unlimited deposits
  • access your funds at call via internet or mobile banking, automated telephone banking or by visiting a branch
  • interest calculated daily and paid monthly
  • apply over the phone or in branch
  • direct credit to your account
  • unlimited free PayAnyone – Mobile Email feature on mobile banking to send funds by providing the recipient’s mobile phone number or email address.

 

Rates & fees

Rates

Standard rate pa
Up to $1,000,000
2.35%
$1,000,000 plus
0.75%

Rates are effective 15 Aug 2016 and subject to change at any time. Interest is calculated daily and credited monthly.

Fees & Charges

Refer to Fees & Charges (PDF) for information on current fees & charges.

Apply

3 easy ways to apply

Before you apply...

  • You will need to have a Self-Managed Super Fund (SMSF) before you can open an SMSF Saver account. 
  • Upon application, you will be required to supply additional documentation:
    • Certified copy of the SMSF Trust Schedule outlining:
      • Name of the fund and trust participants and their roles, and
      • Certified copy of the signed executed deed.
    • In addition to the above, corporate trustees will need to provide:
      • Certified copy of the company registration
      • Company search (note: if you are unable to supply this, BankVic can conduct the search on your behalf and there may be a fee).  
  • Remember to read the Product Disclosure Statements:

FAQ

How is interest calculated?

Interest is calculated daily and paid monthly.

Do I need a minimum balance or to make a minimum deposit?

No, there is no minimum balance or minimum deposit required.

How do I apply for a SMSF Account?

You can apply for an SMSF Saver account in one of the following ways:

I don’t have an SMSF - can I still open an account?

You must have an SMSF to open an SMSF Saver account. If you don’t have one, you may want to speak with an SMSF professional.

For further information, visit www.ato.gov.au. Alternatively, you can arrange an appointment with a BankVic Financial Planner.

What type of SMSF trust structure do I need to open an SMSF Saver account?

You can open a SMSF Saver account whether your SMSF is structured with Individuals as joint trustees, or a Company as a trustee.

I’m not a BanKVic member - can I open an SMSF Saver Account?

Yes, you can – all you need to do is become a BankVic member.

For an SMSF set up with Individuals as trustees
Each individual trustee is required to be or become a BankVic member. If you're already a BankVic member, you don’t need to do any more, but if you’re not a member, you'll need to purchase ten $1 shares.

For an SMSF set up with a Company as trustee
To open the account, at least one director must be a BankVic member. Please note: the company and all individuals be they trustees or company directors will be required to provide verification of their identity in line with Australia’s Anti-Money Laundering and Counter Terrorism-Financing legislation.

How many trustees will I need?

This will depend on how your trust is structured. Each of your trustees will need to be an account holder.

For an SMSF with individuals as trustees
You will have either two, three or four trustees and each will need to be an account holder.

For an SMSF with a company as a trustee
You will have at least one director, but may have up to four.

What forms will I need to fill in?

Our Service & Sales team will be able to assist you with the forms you will need to fill in.

What documentation will I need to provide?

You will need to provide:

  • a certified copy of the SMSF Trust schedule, or
  • a certified copy of the signed executed deed.

In addition, companies will need to provide:

  • a certified copy of the company’s registration as acknowledged by ASIC, and
  • a current company search.
    Note: if you cannot provide this, we can perform a company search on your behalf, however there will be a small fee for this service. Once again our Service & Sales team can guide you through this process.

How regularly will account statements be produced?

Account statements are issued quarterly and made available on eStatements through internet banking. We will notify you via email when your eStatement is available, so please ensure you provide us with a valid email address.

BSB: 704 230

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