Arab Bank Fixed Term Deposit Account

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Start investing early with a fixed rate term deposit that makes no stipulations for how little you can start earning interest with.

The Arab Bank offers Australians a flexible term deposit account with no minimum balance requirement and terms for a quick investment period or for when you have a longer savings goal in mind. Interest rates are competitive, and can be paid into the account to further its growth with compound interest. With transactions that are free from any fees, your savings will grow faster than you hoped for.

Up to 1.6% p.a.

Interest rate

6 months interest rate

$0

Minimum opening deposit

$0

Account keeping fee

Details

Product NameArab Bank Fixed Term Deposit Account
3 month interest rate1.55%
4 month interest rate1.40%
6 month interest rate1.60%
9 month interest rate1.50%
12 month interest rate1.50%
24 month interest rate1.40%
36 month interest rate1.30%
48 month interest rate1.30%
60 month interest rate1.30%
Minimum Opening Deposit$0
Minimum Age Requirement18
The rates displayed above are interest rates paid at maturity only. We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide.

Key features

Minimum balance

You can open a term deposit with an opening balance of $0. You also have the option of making the deposit in Australian dollars or with one of the following; United States dollar, Great British Pound, Euro, or Swiss Franc.

Choice in terms

The terms offered by Arab Bank range in length from one month to five years for those in Australian dollars or one to six months for other currencies.


How to apply

If you are considering applying for the Fixed Term Deposit Account you will first need to contact a representative of Arab Bank. As they are limited to only ten branches in Australia, concentrated in Melbourne and Sydney, you will first want to make sure that you are eligible for this account before making the trip.

Eligibility

  • Minimum age. While Arab Bank makes no mention of an age requirement for this account, minors may need have permission from a parent or guardian.
  • Residency requirements. Account holders will have to be residents of Australia with a residential address.

FAQ

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2 Comments

  1. Default Gravatar
    Tony
    January 3, 2019

    After maturity of a term deposit can you withdraw principal and interest to another bank

    • Avatarfinder Customer Care
      John
      January 3, 2019

      Hi Tony,

      Thank you for reaching out to finder.

      After the maturity date of your term deposit, you have the option to renew your term deposit with your current bank or opt to withdraw everything and transfer it to another bank depending on your choice. Hope this helps!

      Cheers,
      Reggie

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