People First Bank / Heritage Bank Dream Fund

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Dream Fund is a savings account from People First Bank / Heritage Bank. At $50,000 it pays 5.55% p.a. in a month in which the conditions below are met and 0.01% when they are not.

Rate tiers

Every balance band in the bank's feed: base is the rate when the bonus conditions are not all met, bonus the add-on for meeting them, conditional the two together.

Some rows are paid on the whole balance and some, marked stepped, on the part of the balance in the band, as the feed states them.

The bonus is paid on top of the base rate in a month in which the conditions are met; conditional is the two together, and the base rate is what is paid otherwise.

The bonus rate changes with the balance; the bands above show what the feed states for each.

Conditions

For the bonus rate

• grow the balance each month

In the bank's own words, as its feed states each condition on the bonus rate:

• balance growthBonus interest paid in any month the account balance grows (not including interest credits)

Other conditions

• not updated by the bank since 2026-09-30, before the Reserve Bank's cash rate rise of 4 November 2026; check its page, as the rate may have changed

Features

app

yes

Osko

yes

PayID

yes

transactions

unlimited

Other features, in the bank's words:

• 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).

Fees, limits and who can open it

monthly fee

no monthly fee stated

interest paid

monthly

interest calculated

daily

open to

personal customers

Who can open it, in the bank's own words:

• residency: Permanent residents of Australia who reside in Australia at the time of membership application are eligible for membership, regardless of citizenship status.

About this account

A savings account that offers bonus interest in any month your account balance grows (not including interest credits)

Data

• People First Bank / Heritage Bank's own page for this account.
• The bank's documents its product record links to: terms and conditions, fees, eligibility.
• Our verbatim snapshot of the bank's product record (source), as fetched on 27 October 2026.
• We read the bank's own page and terms against this page on 1 November 2026: dream-fund, brc-8-6-1; conditions they state and its feed does not are listed above.
• /au/finance/savings-accounts/v1/brands/people-first-and-heritage-bank.json: this bank's accounts and every balance band as JSON; People First Bank / Heritage Bank's page lists them.
• The bank last updated this record on 30 September 2026. Rates are per annum as the bank states them; "stale" means the bank has not updated the record for over 60 days or since the latest cash rate change.

Other accounts at People First Bank / Heritage Bank

• Community and Business Saverstale savings account, 1.60% base at $50,000
• Online Saver Accountstale savings account, 3.45% base at $50,000
• Target Bonus Accountstale savings account, 4.50% conditional at $50,000
• Youth Target Bonus Accountstale savings account, 4.50% conditional at $50,000
• Business Access Accountstale transaction account, 0.01% base at $50,000
• Community and Business Accessstale transaction account
• Everyday Accountstale transaction account
• Simply Access Transaction Accountstale transaction account, 0.01% base at $50,000
• Youth Simply Access Transaction Accountstale transaction account, 0.01% base at $50,000

All of People First Bank / Heritage Bank's accounts on its page, with its best rates per segment and rate kind, and every account at every bank.