Australian Military Bank Income Plus

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Do you want to open a flexible term deposit that lets you invest your money for varied time periods?

The Australian Military Bank Income Plus is a term deposit that lets you earn interest in a tiered manner. The bank lets you choose between renewing your deposit and withdrawing your funds upon maturity. To open this account you have to invest a minimum of $1,000. The bank pays interest every month.

Up to 0.6% p.a.

Interest rate

3 months interest rate

$1,000

Minimum opening deposit

$0

Account keeping fee

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Details

Product NameAustralian Military Bank Income Plus
3 month interest rate0.60%
4 month interest rate0.60%
6 month interest rate0.60%
7 month interest rate0.60%
9 month interest rate0.60%
12 month interest rate0.60%
Minimum Opening Deposit$1,000
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 investment

The least you can invest in an Income Plus term deposit is $1,000.

Interest rates

The Income Plus term deposit lets your money earn interest through a tiered system. As per current rates, investing $1,000 to $49,999 for three to five months earns 0.6% p.a. Term deposits of six to 11 months earn 0.6% p.a. If you open a 12 months deposit you'll earn 0.6% p.a. interest. The bank offers slightly better rates if you invest $50,000 and above.


How to apply

When you open the Income Plus account you agree to become an Australian Military Bank member. To apply, you can walk into any Australian Military Bank branch, you can get started over the phone and you can submit an online application. Make sure you meet the required eligibility criteria.

Eligibility

  • Minimum age. You are at least 18 years of age.
  • Residency requirements. You are an Australian citizen or a permanent resident of Australia.

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