Want to buy or build your first home? The First home saver account provides a simple, tax effective way for first homebuyers to save.
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3.50%p.a. Variable Interest Rate* |
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A Government approved tax rate of 15% on the interest you earn on your savings, which Wagga Mutual will automatically deduct from your account and pay to the Tax Office. |
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1 % p.a. Bonus Interest will be paid by Wagga Mutual on the average annual balance of the savings held in the account at the completion of the four (4) year term.** |
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17.00%p.a. tax-free government co-contributions when you make contributions of up to $5000 in any financial year |
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To withdraw your savings, you must have contributed at least $1000 per year into your First Home Saver Account for at least four (4) separate financial year. |
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Become eligible to apply for a Wagga Mutual First Home Mortgage Loan with a guaranteed reduced interest rate of 0.50%p.a. below the standard variable interest rate for the first two (2) years of the mortgage term.*** |
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Apply for a First Home Saver Account 
* Interest will be calculated on a daily closing balances & paid on an annual basis.
** Bonus Interest will be paid if a Wagga Mutual First Home Mortgage Loan is approved.
*** A Wagga Mutual First Home Saver Account must be held with Wagga Mutual for a minimum of 2 years to become eligible to apply for a Wagga Mutual First Home Mortgage Loan.