Account Type Dimension The type of loan or deposit account. Retirement Savings Account Low risk/low return capital guaranteed products that are subject to the same restrictions as other superannuation products. Retirement Savings Accounts (RSA) are approved accounts, in accordance with the Retirement Savings Accounts Act 1997, offered by banks, building societies, credit unions, life insurance companies and prescribed financial institutions (RSA providers). Transaction Deposit Transaction deposits are deposits that are directly accessible and exchangeable for notes and coins on demand at par and without penalty or restriction. Other Deposit Accounts Any deposit accounts other than transaction deposits, fixed-term deposits, offset accounts, retirement savings accounts and farm management accounts. Non Transaction Not Fixed Term All non-transaction deposits that are not fixed-term deposits. Non-transaction deposits are not directly accessible or exchangeable for bank notes and coins on demand at par and without penalty or restriction. Exclude savings deposits linked to an account from which payments may be made to third parties where funds may be transferred to the linked account almost instantaneously and subsequently withdrawn or transferred to a third party on demand. Farm Management Account Farm management accounts allow eligible primary producers to set aside pre-tax income from their primary production activities during years of high income. The income can then be drawn in future years as needed. Offset Account An offset account is one where a borrower has a deposit account and a loan with the same institution. Instead of receiving interest on the deposit account, the interest payment due on the loan is calculated on the net balance of the loan (credit outstanding on the loan less any amount in the deposit account). Fixed Term Deposit Fixed term deposit means an account in which money has been placed for a fixed period for a stated interest rate. It includes term deposits; fixed-term deposits with a notice of withdrawal requirement; and non-negotiable certificates of deposit. Offset And Set Off Account An offset account is one where a borrower has a deposit account and a loan with the same institution. Instead of receiving interest on the deposit account, the interest payment due on the loan is calculated on the net balance of the loan (credit outstanding on the loan less any amount in the deposit account). Set-off accounts are linked deposit and loan accounts that pay a different interest rate depending on whether the linked accounts are in a net loan or net deposit position. They are similar to offset accounts but differ in that, if the linked accounts are in a net deposit position, the customer will be due interest. Transaction Deposit Interest Bearing Transaction deposits that are interest-bearing. Transaction deposits are deposits that are directly accessible and exchangeable for notes and coins on demand at par and without penalty or restriction. Interest-bearing deposits have a contractual interest rate greater than zero. Redraw Facility A facility that enables a borrower to access (subject to conditions) the accumulated excess repayments they have made towards their loan. Transaction Deposit Non Interest Bearing Transaction deposits that are not interest-bearing. Transaction deposits are deposits that are directly accessible and exchangeable for notes and coins on demand at par and without penalty or restriction. Non-interest-bearing deposits have a contractual interest rate equal to zero.