Interest Rate Securities

Progressive

Invest in Interest Rate Securities
Investment Options
Payment of Interest
Current Interest Rates
How to Invest
Continuous Disclosure Documents

Invest in Interest Rate Securities

Interest paying securities issued by Progressive Mortgage Company Limited (ABN 88 000 192 012 AFSL/ACL 269822) (PMC) are available for subscription through application according to terms set out in Progressive’s current Prospectus.

Progressive Mortgage Company Limited
ABN 88 000 192 012 | AFSL / ACL 269822

Prospectus 2017

No further investments will be issued under Prospectus 2017 which has now reached its expiry date.

It is anticipated that Prospectus 2019 will be lodged with ASIC in May 2019 and that following a short exposure period applications for new investments will be accepted.

Copies of Progressive’s Prospectus can be downloaded (see How to Invest) or a copy obtained by calling Progressive on (02) 9299 5843.

Investment Options

  • Variable interest rate 31 day notice
  • 3 month, 6 month, one, two and three year fixed term

Payment of Interest

Interest earned on all Investment Options can be:

  • Paid monthly, quarterly, or annually; or
  • Compounded quarterly.

Interest compounded since investment or reinvestment can be withdrawn at any time.

Current Interest Rates

Interest Paid or Compounded Quarterly
Term
Nominal
Yield
31 day notice*
2.55 % pa
2.57 % pa
3 months
2.45 % pa
2.47 % pa
6 months
2.51 % pa
2.53 % pa
1 year
2.68 % pa
2.71 % pa
2 year
2.78 % pa
2.81 % pa
3 year
2.98 % pa
3.01 % pa
*Variable rate

Investment for other terms can be negotiated on request.

Interest rates are quoted as:

  • Nominal, which is the % rate per annum applied over the monthly or quarterly period that interest accrues and becomes payable and
  • Yield, which is the effective % annual return on the investment on the assumption all interest payable is reinvested at the same Nominal rate.

When applying for securities, quote only the Nominal rates listed in the Tables above.

Investors should note that:

  • These secured notes are not bank deposits.
  • There is a risk that investors could lose some or all of their money.
  • Progressive Mortgage Company Limited has not sought a credit rating of these securities. Therefore an independent assessment has not been made regarding the risk of Investors losing some or all of their investment.

How to Invest

Progressive Mortgage Company Limited
Level 4, 131 Clarence Street
Sydney NSW 2000

  • Payment for the Total Investment can be made by:
Cheque
Payable to Progressive Mortgage Company Limited and marked 'Not Negotiable'.
Direct Credit / EFT
By arrangement with Progressive

BPAY telephone and internet banking
To use this option you will need to quote Progressive biller code 11478 - contact Progressive for the required customer reference number.

More information about using BPAY and participating bank contact details.