In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • FAQ
  • Your reviews
  • Ask a question
Finder makes money from featured partners, but editorial opinions are our own.

Arab Bank Fixed Term Deposit Account

Arab Bank Fixed Term Deposit Account
Interest rate 6 months interest rate
Up to 4.5% p.a.
Minimum opening deposit
$0
Account keeping fee
$0
Maximum deposit
$1,999

Summary

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.

Pros

  • Highly competitive interest rate
  • Interest calculated daily
  • Terms from 1 month to 5 years available

Cons

  • For terms of two years or less, interest is paid at maturity

In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • FAQ
  • Your reviews
  • Ask a question

Details

Key details

Product Name Arab Bank Fixed Term Deposit Account
3 month interest rate 3.95%
4 month interest rate 3.70%
6 month interest rate 4.50%
9 month interest rate 4.20%
12 month interest rate 4.25%
24 month interest rate 3.80%
36 month interest rate 3.70%
48 month interest rate 3.70%
60 month interest rate 3.75%
Minimum Opening Deposit $0
Minimum age requirement 18
Government guarantee Yes

Eligibility

Minimum Age Requirement 18
Joint account availability No
Min Deposit $0
Available to children Not available for children

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

Your reviews

No reviews yet. Write a review

Ask a question

Ask a question
Avatar

Staff Finder

Writer

Hi there, looking for more information? Ask us a question.

Error label

You are about to post a question on finder.com.au:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com.au is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked
Accept and continue

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our 1. Terms Of Service and 6. Finder Group Privacy & Cookies Policy.

This site is protected by reCAPTCHA and the Privacy Policy and Terms of Service apply.

Avatar

Tony

January 02, 2019

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


Avatar

John Basanes Finder

January 03, 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


Show more Show less
Go to site