Cash Management account: a safe haven in times of uncertainty

With the current economic situation pinching pockets nationwide, the time to reassess your finances and take a closer look at what you do with your money can be a necessity to make your budget go further.

Designed to make the most of your savings in times of financial uncertainty, Heritage Building Society’s Cash Management account provides the benefits of a term investment and access account rolled into one.

With competitive interest rates, this account pays a higher rate of interest on balances of $5,000 or more remaining in the account for a full three months.

“In the current economic climate, Heritage’s Cash Management account is ideal for customers wishing to manage their funds in uncertain times ahead,” said Heritage CEO John Minz.

“Unlike typical high-interest earning accounts, Cash Management does not lock your money away for a period of time while interest is accumulated.”

“This essentially enables customers to freely access their savings from day-to-day.”

Interest on this account is calculated daily and paid each three months from the day the account is opened, so you can get more value from your money.

Created with a People first approach, Cash Management charges no account keeping fees and provides generous fee-free zones on transaction fees.

Like a regular savings account, Cash Management can be accessed via Heritage on-line and the Heritage Access Line, making access to your funds simple and convenient.

Creating peace of mind that your savings can be used to their full extent, the Cash Management account keeps your money safe and secure in times of uncertainty through ease of access, as well as lower fees and charges and higher interest rates.

Heritage is Australia’s largest building society with full service retail banking operations across the eastern seaboard of Australia and consolidated assets of approximately $7 billion. The organisation is a public company limited by shares and guarantee that operates as mutual organisation.

As Australia’s largest building society, Heritage offers its members a better deal by providing lower fees and charges, higher deposit rates, lower lending rates and better service as compared to the major banks.

For further information or to open a Cash Management account today, visit heritageonline.com.au or call 13 14 22.

Please consider the Guide to Heritage Deposit Products (available in branch, by phoning 13 14 22 or at www.heritageonline.com.au) before you decide whether this product is right for you. Information correct as at 16 March 2009 and subject to change without notice. Heritage Building Society Limited ABN 32 087 652 024 AFS Licence No. 240984.

* Home loan comparison rate based on a $150,000 loan over 25 years.  Fixed loan comparison rate applies only for loans with an LVR of 80% or less and a loan amount of $150,000 to $249,999.  WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Interest rates are on a per annum basis. Rates are correct as stated and subject to change without notice. Rates shown are for new loans and do not apply to switches or internal refinances.

Home Advantage Variable rates include discounts shown from the Standard Variable rate. Home Advantage Living Equity rates include discounts from the Living Equity rate. Discounts are based on total lending in the package. Discount Variable LVR rates are for new lending and include discounts from the Discount Variable Loan Rate.  Discounts are not available in conjunction with any other interest rate discount or special offer. All fixed rates are fixed for the period stated and revert to the variable rate applying at expiration of the fixed term. To approved applicants only. Conditions, criteria and fees apply.

Loan to Value Ratio (LVR) is the loan amount divided by the value of your security property (determined by Heritage Bank at assessment), multiplied by 100. Owner Occupied loans have a maximum LVR of 95%, Investment loans have a maximum LVR of 80% and Living Equity has a maximum LVR of 80%. Heritage is not accepting any new investment applications until further notice.

This advice has been prepared without taking into account your objectives, financial situation or needs. Because of this you should, before acting on this information, consider its appropriateness having regard to your objectives, financial situation or needs.

Generate a personalised Key Fact Sheet based on your loan amount, term and repayments. This tool is provided to help you compare home loans from Heritage with other financial institutions.