If you have a longer term goal but can't resist dipping into your funds, a term deposit can be a simple, secure way to grow your savings.
A term deposit is a savings account where you lock in your money for a fixed period of time, anywhere from 30 days up to five years. In return, you receive a fixed interest rate for the entire term, so you know exactly how much you’ll earn.
You can invest from as little as $1,000. Your interest rate won’t change during the term, giving you certainty and stability. At maturity, you can withdraw your funds, reinvest them, or choose a new term and rate.
- Start saving today with as little as $1,000
- Reinvest or change your term and interest rate at maturity
- Eligible deposits under the $250,000 cap are Government guaranteed*
2 years
Interest paid on
maturity or annually
| Terms Available (Min $1,000) | Interest paid on maturity or annually | Interest paid monthly |
| 5 years | 4.00% p.a. | 3.95% p.a. |
| 4 years | 4.00% p.a. | 3.95% p.a. |
| 3 years | 4.60% p.a. | 4.55% p.a. |
| 2 years | 5.20% p.a. | 5.15% p.a. |
| 1 year | 5.20% p.a. | 5.15% p.a. |
| 9 months | 5.00% p.a. | 4.95% p.a. |
| 6 months | 5.10% p.a. | 5.05% p.a. |
| 3 months | 4.90% p.a. | 4.85% p.a. |
Product Features:
Saving Features |
|
|---|---|
| Minimum opening deposit : | $1,000 |
| Funds available : | At maturity |
| Statement options : | Online statements |
| Monthly account fee : | $5 – exempt where minimum membership balance of $5,000 is maintained at all times throughout the month |
| Transaction fees : | N/A |
| Service centre access : | Yes |
| Visa debit card : | No |
| Direct credit : | No |
| Direct debit : | No |
| Quick debit : | No |
| Periodical payment : | No |
| BPAY : | No |
| Bank@Post : | No |
| Interest calculation : | Calculated on daily balance and paid monthly, annually or at maturity |
| Conditions : | Early withdrawal will be allowed at the discretion of the Bank on 31 days notice. Reduced interest rates may apply. |
Savings calculators
Discover your savings potential and estimated interest earnings with our savings calculators.
Our awards
Our Term Deposits have achieved great success being independently recognised by finance industry experts Canstar and Mozo, for achieving great value and innovative features across a range of different term lengths, from one month to five years.
We're ready to help you
* For more information on the Australian Government guarantee, visit our Financial Claims Scheme page.
