Christmas Club account a great way to ease festive finance pressures

For many of us, Christmas is a fantastic time of year, full of celebrations and family fun.

But for others it can place a huge strain on family finances, with so many expenses coming at the same time.

If you have struggled to keep pace with costs this year, there is a solution that can spread the financial load and help keep your budget in balance for next Christmas.

Heritage Bank offers a popular Christmas Club account that lets you save money throughout the year and access it just in time for the Christmas shopping season.

Christmas Club accounts are just like a savings account that you put money into regularly.

The big difference is that you cannot make any withdrawals from the account until a specified window of time around Christmas – from 1 November to 31 January.

Heritage Bank CEO Mr John Minz said: “The Christmas Club account is a great idea for people who find it hard to resist the temptation of dipping into a normal savings account for other purchases.

“This way, your money is off limits until Christmas is just around the corner, so you are more likely to save.

“Just think – if you opened a Christmas Club account in early January, put $20 a week in and didn’t touch it till November, you would have nearly $900 to spend.

“That’s not a bad little nest egg for the Christmas shopping.”

Mr Minz said the Christmas Club accounts had proven very popular with customers.

“This year more than 16,000 Heritage customers have a Christmas Club account, and at the start of November their average balance was $780,” he said.

“These accounts are very popular because they work. They’re an excellent way to ensure you have the money you need to avoid the festive finance blues and enjoy Christmas free of worries about how you can pay for it.”

To find out more about the Christmas Club account and see whether it is right for you, please read the Guide to Heritage Deposit Products available in branches or on the website at

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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.

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