Funeral Saver Account

A funeral savings plan is one of the easiest ways to ensure that your funeral expenses are paid without adding to the stress of your loved ones in a difficult time. By planning ahead and depositing into a Gateway Bank Funeral Saver Account, you can be confident that all or part of your funeral expenses will be covered in the event of your death, easing financial pressure and worry on your loved ones.

For our Funeral Saver account, your funds are only accessible for funeral-related expenses, and funeral costs will be paid directly to the funeral director on receipt of a tax invoice. A 7 day written notice is required to withdraw money for other purposes. Any ancillary funeral costs, such as the cost of a wake or to purchase a grave commemorative headstone, cannot be taken from the funds in this account, so you can be sure of exactly what your funds will be used for in the event of your passing.

Our Funeral Saver account has no monthly account keeping fees, a low minimum and ongoing monthly deposit and the option for deposits directly from your salary. While there may not be any urgency to prepare for a funeral right now, you can plan ahead and be confident, with a sense of security and certainty, that your family will not be burdened with a large funeral bill in the event of your passing.

 

  • No account keeping fees
  • Interest calculated daily and paid monthly
  • $200 initial deposit required with minimum monthly deposit of $25
  • Funds only accessible for funeral-related expenses
0.50 % p.a. Interest rate
for balances over $200

Product Features:

Savings & Bank Accounts
Minimum Rate : 0.50% pa
Maximum Rate : 0.50% pa
Monthly Fee : $0
Annual Fee : $0
Minimum Amount : $0
Cheque Book : No
Funds Available : Limited access, branch assisted withdrawals
ATM/EFTPOS Access : No
Online & Phone Banking : Yes
Direct Entry (Credit/Debit) : Credits only
Interest Income : Interest is calculated on daily balances and credited monthly
Debit Card : No
Branch Access : Yes
BPAY® : No
Overdraft : No
Periodic Payments : No

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What will my savings be?

Gateway reserves the right to vary these interest rates at any time. Fees and charges, terms and conditions apply. Please view our Gateway Deposit Accounts & Access Facilities General Conditions of Use, Summary of Deposit Accounts & Availability of Access Facilities and General Fees, Charges and Transaction Limits brochures.