2 years - Interest paid on maturity or annually
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.
| 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. |
| 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. |
For more related frequently asked questions, visit our FAQs page.
* For more information on the Australian Government guarantee, visit our Financial Claims Scheme page.
