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Victoria Teachers Credit Union: Serving the education community

It all comes back to our members

Savings

First Home Saver

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. First Home Saver Account holders will have the Home Loan establishment fee waived for Home Loans funded by Victoria Teachers Credit Union.


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.
  • Interest paid on full balance.
  • No ongoing fees and charges.
  • No minimum opening deposit.
  • All depositing channels available.
  • Available to 18 - 65 year olds who have never purchased a home in which they reside and who have not previously held an FHSA.
  • Funds available after meeting legislative criteria.1
  • Interest calculated daily.
  • Interest credited quarterly.

  1. Refer to FHSA Product Disclosure Statement.

Rates & Fees

First Home Saver Account Interest Rate (S20)1

Pre-tax

 5.00% p.a.

After 15% tax2

 4.25% p.a.

Terms and Conditions

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

  1. Interest Rates effective 1 September 2010.
  2. 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

Download

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.

 
Download

First Home Saver Account Product Disclosure Statement (PDS)

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

 

How do I apply?

Download

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.

 
Book

Book an appointment

To book a time with one of our friendly Member Service Consultants, or to request a hard copy application form, call 1300 654 822.

 

BSB - 704 191

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