Savings

First Home Saver

Summary
Rates & Fees
Calculators
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Save your home deposit through lower taxes and Government contributions.

The First Home Saver Account (FHSA) helps you save for your first home through a combination of low taxes and Government contributions.

Increasing the flexibility of First Home Saver Accounts

Changes to the First Home Saver Account came into effect on 25 May 2011.

The changes are reflected in the

First Home Saver Account Product Disclosure Statement.
If you build or purchase a home before meeting a condition for release, you can now choose to have the balance of your account paid to you for your mortgage at the end of the minimum qualifying period.

Benefits and Features:

High flat rate of interest.
The Home Loan establishment fee is waived for FHSA holders who have their Home Loans funded by Victoria Teachers Credit Union.
A 17% tax-free Government contribution.
No ongoing fees and charges.
No minimum opening deposit.
Funds available after meeting legislative criteria.¹
Interest calculated daily.
Interest credited quarterly.

Refer to FHSA Product Disclosure Statement.

Rates & Fees

First Home Saver Account Interest Rate (S20)¹
Pre-tax	4.55% p.a.
After 15% tax²	3.8675% p.a.

Terms and Conditions

Part A - Product Information
Part B - Fees and Charges
Part C - Interest Rates

Interest Rates effective 20 December 2011.
The Government requires the Credit Union to collect tax of 15% on your interest earnings, and disclose the after tax rate.

Calculators

Budget Calculator

Wondering where your money goes? Help plan for the future by doing your budget online.

More Information

First Home Saver Account Fact Sheet

For further information on the benefits of an FHSA and how it works, refer to the First Home Saver Account Fact Sheet.

First Home Saver Account Product Disclosure Statement (PDS)

The FHSA Product Disclosure Statement (PDS) should be considered before acquiring this product.

How to Apply

If you are not already enjoying the benefits of Membership with Victoria Teachers Credit Union, join online today!

If you are already a Member, you may select any of the following options:

Over the Phone

By calling our friendly Member Service Consultants on 1300 654 822 between 8:00am and 7:00pm Monday to Thursday and Friday 8:00am and 6:00pm.

Download a First Home Saver Account Application

Complete the application and return it to the Credit Union by mail, fax or take it to one of our Member Service Centres.

Visit a Member Service Centre

Complete an application in person at our Camberwell or Moonee Ponds Member Service Centres.