People First Bank
Dream Fund
People First Bank · trans and savings accounts
Provider last updated this product 2026-09-30.
A savings account that offers bonus interest in any month your account balance grows (not including interest credits)
Deposit rates
| Type | Rate | Term | Calculated | Applies to | Conditions | Interest |
|---|---|---|---|---|---|---|
| VARIABLE | 0.01% | - | daily | - | - | calculated daily, paid monthly |
| BONUS | 5.54% | - | daily | $0 - $100,000 | Applicable on balances up to $100,000 | calculated daily, paid monthly |
| Applicable on balances up to $100,000 | ||||||
| BONUS | 4.39% | - | daily | $100,000.01+ | Applicable on the portion of the balance over $100,000 | calculated daily, paid monthly |
| Applicable on the portion of the balance over $100,000 | ||||||
Fees
| Fee | Type | Amount | Details |
|---|---|---|---|
| Auto Transfer Order Rejection | TRANSACTION | $5 | Applies when your account has insufficient funds to cover a payment. |
| Electronic Auto Transfer Order | TRANSACTION | $1.50 | Applies as a fee on establishment of each new staff assisted external electronic payment . Includes staff assisted transfers to a Heritage account. Where the staff assisted transfer is a recurring payment or debit, the fee will only apply to the first successful transfer (and will not apply to subseuent recurrent transfers), unless the recurring payment is amended. |
| Corporate Cheque | EVENT | $10 | Charged each time a Corporate Cheque is issued. |
| Direct Debit Dishonour | EVENT | $5 | Applies when your account has insufficient funds to cover the amount of a direct debit. Charged on the day the direct debit is attempted. Not charged if Honour Fee is payable. |
| Others | EVENT | $1 | All People's Choice Credit Union Fees and Charges are referenced within the disclosure document linked below. |
| Emergency same day transfer | EVENT | $11 | Applies for when a new staff assisted same day transfer external or Heritage electronic payment is debited from your account. |
| Direct Debit Dishonour Fee | EVENT | $5 | Applies when your account has insufficient funds to cover the amount of a direct debit. |
| Frequent Statement Fee | EVENT | $2 | This fee applies to members who request a statement more regularly than the statement cycle specified in the Summary of Term Investment Accounts table in Chapter 7. Excludes eStatements, which are free of charge. |
| Duplicate/replacement Statement | EVENT | $10 | Applies when you request us to provide a copy of a statement that has already been issued (including where you request a paper copy of an eStatement). Charged at the time the statement is requested. |
| Access Token | EVENT | $20 | Applies for each active Access Token. Charged upon issue. |
| Overdrawn Administration Fee 1 | EVENT | $25 | Payable if you overdraw your account without an approved overdraft or line of credit and you fail to deposit funds to the account to clear all overdrawn amounts within 7 days of us notifying you that your account is overdrawn. |
| Overdrawn Administration Fee 2 | EVENT | $25 | Payable if you overdraw your account without an approved overdraft or line of credit and your account remains overdrawn for a period of 20 days or more. |
| Qucik Debit Dishonour | EVENT | $5 | Applies when your account with another financial institution or your account with Heritage has insufficient funds to cover the value of the quick debit request. Quick Debit services available only on application and on select products. |
| Dormant (inactive fee) | EVENT | $20 | Applies when you do not have any activity on your account/s or membership, we may charge you a fee at the time we close your inactive accounts. |
| Direct Debit Honour | EVENT | $10 | Applies when a direct debit is paid from your account where insufficient funds are available. |
| Paper Statement Fee | EVENT | $3 | Applies to each paper statement issued as per the statement cycle specified. Excludes eStatements which are free of charge. |
Rate history
The figures behind this chart
| From | Until | Rate |
|---|---|---|
| 2026-08-08 | 2026-09-29 | 5.14% |
| 2026-09-30 | 2026-09-30 (current) | 5.54% |
Published figures as captured daily since 2026-08-08. A step is the day the provider's published figure changed; days without a published figure carry the last published value.
Features
- When the closing balance of your account on the last day of the month, excluding any interest credited to your account on that day, is greater than the opening balance of your account for that month, we will pay you bonus interest (this means we will calculate interest at a bonus rate in relation to that month).
Who can apply
- residency status - Permanent residents of Australia who reside in Australia at the time of membership application are eligible for membership, regardless of citizenship status.
- natural person - Personal Members Only
The provider's own documents
Published by the provider under the Consumer Data Right. These are their documents, not ours - they are the authority on this product.
Last updated by data holder: 2026-09-30T14:35:22.658Z · Product ID: d9772ff5-78d8-46c4-b489-caa0f05d4c98