Whether you’re saving for a home, a holiday or just for a rainy day, an AWA Alliance Bank Term Deposit Account offers a range of features designed to help you reach your savings goal as quickly as possible. With competitive fixed interest rates of up to 2.95% p.a. a Term Deposit Account from AWA allows you to enjoy the security and peace of mind of guaranteed returns.
Terms range from one month to two years, and you need a minimum investment amount of $5,000 to open an account. As there are no account-keeping fees attached to the term deposit, all the money you invest goes towards your savings goal.
What are the features of an AWA Alliance Bank Term Deposit Account?
AWA offers competitive fixed interest rates on all its term deposit accounts. Rates vary depending on the term you choose and are tiered, with higher rates applying to larger investment amounts. The rates listed above are for deposits between $5,000 and $49,999.
Interest calculated daily
Interest on a AWA Alliance Term Deposit Account is calculated daily and credited to your balance at maturity. If you choose a term greater than 12 months, interest is credited annually.
Minimum investment of $5,000
You need to invest at least $5,000 to open an AWA Term Deposit Account.
Choice of terms
There is a wide range of investment terms available, including any number of months from one month to a year, or a two-year term.
No account-keeping fees
There are no ongoing monthly or annual account-keeping fees attached to AWA’s range of term deposits.
Tiered interest rates
The table above outlines the interest rates offered for each balance amount.
- Choose a term from 1 month to 2 years
- Fixed, tiered interest rates
- No account keeping fees
- Must give 31 days notice to withdraw money
What you need to know before applying
If you’re interested in applying for an AWA Term Deposit Account, click one of the “Apply now” links on this page. You will be taken to the AWA Alliance Bank website, where you can check the account terms and conditions and get the ball rolling on your application.
- In branch. Visit an AWA Alliance Bank branch in Portland or Geelong in Victoria, or Mandurah in Western Australia, to receive personalised advice about how to open a Term Deposit Account.
- Online. Fill out an online enquiry form with your name, contact information, preferred contact time and details of the type of account you would like to open.
- Minimum age. You need to be at least 18 years of age.
- Residency requirements. You must be an Australian resident to open an account.
- Depository requirements. A minimum investment of $5,000 is required to set up a AWA Term Deposit Account.
If you are looking for a term deposit account that provides competitive interest rates and a wide choice of terms, AWA Alliance Bank is well worth a look. However, before deciding whether it’s the right account to help you reach your savings goals, compare the interest rates and features with similar products from a range of other banks and financial institutions.