What is tiered/stepped interest?
An account offering multiple tiers of interest means the interest rate changes based on the balance of the account. Interest can be applied on a tiered/stepped basis or on whole balances.
When interest is applied on a stepped basis, the interest rate applicable to each tier is applied to the account balance within each tier.
When interest is applied to whole balances, the interest rate applicable to the tier your balance falls within is applied to the whole balance.
Different types of transaction and savings accounts are suitable for different members, depending on your savings goals and how you to transact on your account.
For a full list of our deposit interest rates and to see how interest is applied to your account, you can view our Deposit Rate Schedule on our Forms & Documents page.