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Reminder: Important Changes to the Christmas Club Account

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Christmas savings accounts are designed to help you save money for your holiday shopping, without having to use your everyday money or your available credit.

As advised in August 2019 via the Special Edition of the Endeavour Newsletter, these changes to the Christmas Club savings account have come into effect on 1st October 2019:

  • Withdrawals will only be made available from 1 November to 31 January each year 
  • Interest is calculated on a daily balance and paid annually on 30 November

Locking down the account outside of the Christmas period is a measure designed to create a safe space that's dedicated to saving money just for the holiday season. For any other purposes, we have a range of other more suitable general savings accounts. 

Assisting with the transition

For this year only we've extended the allowed withdrawal period by one month which means you will still be able to withdraw money from your Christmas Club until the account enters the lockdown mode on 1st March 2020.

The features you know and love are staying the same

The Christmas Club account has no account keeping fees and the competitive 0.30% interest rate on your balance remains unchanged. You may receive real time payments into your Christmas Club account through NPP by Osko® and if you make regular deposits, you should have no trouble playing Santa when the time comes.

If you have any questions, please visit any of our branches, call us on 1300 13 14 20 or email