Earnr Support

Earnr Term Accounts offer our highest rates, set for for the term.

You can choose from 6 or 12 month terms, with the choice of interest paid monthly, or paid at maturity.

Each Earnr Term is separate with it's own start and end date.

Key attributes of each Earnr Term:

Start Date: The date the term starts

Maturity Date: The date the term matures (this is 6 or 12 months from the start date depending on the term chosen)

Notice Date: The date you need to make a transfer by, to receive your funds on the maturity date

Interest Rate: The fixed rate for the term

Interest Payment: Monthly or at maturity

‍Opening a new term

You can open a new term with a minimum of $5,000, and, you can open as many terms as you like.

To start a new term you can either:

• Make a transfer from your Everyday Account or Notice Accounts - see Account to account transfers for help.
• Sending funds from an external account - see Adding Funds for help.

‍What happens at maturity

Any amount not transferred out of the term before the notice date, will automatically roll for a new, equal term on the maturity date.

You'll receive a notification one week before the notice date, to remind you of upcoming maturities.

‍Scheduling a transfer of funds out of your term at maturity

You can schedule a transfer of funds at maturity to another Earnr account, and for any amount.

To do this, you'll need to make a transfer before 5pm Sydney time on the Notice Date.

If you make a transfer after 5pm Sydney time Notice Date, it will not be processed until the maturity date of your next term as any available balance will be automatically rolling for a new term.

If you want to transfer funds to your linked bank account, you'll need to first transfer funds to your Everday account, and when available, make the transfer from your Everyday Account to your linked bank account.

See Account to Account Transfers for help on how to schedule a transfer.

‍Interest Payments

Term Accounts are designed to give you rate certainty. Each term has a single rate for the entire balance, and that rate is set for the entire term.

Interest is calculated daily and accrues throughout each month.

• If you've chosen to have your interest paid monthly - you'll receive it in your Earnr Everday account at the end of the month.  
• If you've chosen to have your interest paid at maturity - you'll receive it in your Earnr Everday account on the maturity date.

See How Interest is Calculated for more information.

Where can I find current interest rates?

Head to 'Accounts' in the Earnr App or online, select '6 Month Term' or '12 Month Term', select the individual term, then select 'Details'.

You'll be able to see the rate for the term.  

Where can I  see my interest earnings?

Head to 'Accounts' in the Earnr App or online, select '6 Month Term' or '12 Month Term', select the individual term, then select 'Details'.

You'll be able to see:

• Accrued interest, not yet paid
• Year to date interest paid
• Previous year interest paid
• Lifetime interest paid

Can I access my funds earlier than the maturity date?  

You should only put funds into a Term if you know you won't need them before the maturity date, paying careful attention to the Notice Date that you need to make any outward transfers by.

Early transfers or early withdrawals are generally not permitted. They may only be approved jointly under an exceptional circumstance where a member demonstrates financial hardship, and, the responsible entity determines this does not adversely effect any other member.

In the rare event we approve an early withdrawal or early transfer based on a member demonstrating financial hardship, it will be subject to an early withdrawal fee of 1.925% of the withdrawal amount or $550, whichever is greater.