In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Compare other term deposit accounts
  • Ask a question
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Bank of Sydney term deposit account

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Bank of Sydney Term Deposit
Interest rate 6 months interest rate
Up to 5.25% p.a.
Minimum opening deposit
$1,000
Account keeping fee
$0
Maximum deposit
$1,000,000

Summary

Park your spare change inside of a Bank of Sydney term deposit and take advantage of flexible terms at competitive interest rates.

With an initial deposit of $1,000 your savings can flourish under the competitive interest rates offered by Bank of Sydney. With shorter terms and rollover options, this is a flexible account worth looking into if you have a long term savings goal in mind.

Pros

  • No account keeping fees
  • Fixed interest rate on your money
  • Low minimum deposit requirement

Cons

  • Does not offer terms over 12 months

In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Compare other term deposit accounts
  • Ask a question

Details

Key details

Product Name Bank of Sydney Term Deposit
3 month interest rate 5.00%
4 month interest rate 4.00%
6 month interest rate 5.25%
7 month interest rate 4.50%
9 month interest rate 5.25%
12 month interest rate 5.25%
Minimum Opening Deposit $1,000
Minimum age requirement 18
Government guarantee Yes

Eligibility

Minimum Age Requirement 18
Joint account availability Yes
Min Deposit $1,000
Available to children Not available for children

Key features

Minimum deposit

Bank of Sydney allows for you to invest in a term deposit with a minimum of $1,000.

Terms

The terms start a one month and only go as long as 12 months.


How to apply

If after you have made careful comparisons of various term deposits you have decided that the Bank of Sydney's is your best option, you can visit a branch in order to get your account started. Alternatively, you may download and print the appropriate forms from their website.

Eligibility

Before getting started, check that you are able to meet their eligibility requirements:

  • Minimum age. There is no set age requirement for a term deposit from Bank of Sydney so long as it is issued in Australian dollars.
  • Residency requirements. In order to open this account, you must be able to provide a valid Australian residential address.

Compare other term deposit accounts

Name 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a.
Judo Bank Term Deposit
Finder Award$1,000 min. deposit
3 Mths p.a.
5.00%
4 Mths p.a.
-
5 Mths p.a.
-
6 Mths p.a.
5.25%
7 Mths p.a.
-
12 Mths p.a.
5.25%
24 Mths p.a.
5.20%
Go to siteMore Info
BCU Term Deposit
$1,000 min. deposit$999,999 max. deposit
3 Mths p.a.
4.60%
4 Mths p.a.
4.80%
5 Mths p.a.
3.40%
6 Mths p.a.
4.70%
7 Mths p.a.
4.00%
12 Mths p.a.
4.50%
24 Mths p.a.
4.40%
Go to siteMore Info
MyState Bank Online Term Deposit
$5,000 min. deposit$50,000,000 max. deposit
3 Mths p.a.
2.50%
4 Mths p.a.
4.20%
5 Mths p.a.
4.40%
6 Mths p.a.
4.60%
7 Mths p.a.
3.50%
12 Mths p.a.
5.00%
24 Mths p.a.
3.95%
Go to siteMore Info
Community First Bank Term Deposit
$5,000 min. deposit$99,999 max. deposit
3 Mths p.a.
4.30%
4 Mths p.a.
4.30%
5 Mths p.a.
4.30%
6 Mths p.a.
4.45%
7 Mths p.a.
4.45%
12 Mths p.a.
4.70%
24 Mths p.a.
4.75%
Go to siteMore Info
Bankwest Term Deposit
$1,000 min. deposit$10,000,000 max. deposit
3 Mths p.a.
3.75%
4 Mths p.a.
3.00%
5 Mths p.a.
3.00%
6 Mths p.a.
4.25%
7 Mths p.a.
4.00%
12 Mths p.a.
4.75%
24 Mths p.a.
4.40%
Go to siteMore Info
Community First Bank Term Deposit - $100,000+
$100,000 min. deposit$1,000,000 max. deposit
3 Mths p.a.
4.35%
4 Mths p.a.
4.35%
5 Mths p.a.
4.35%
6 Mths p.a.
4.50%
7 Mths p.a.
4.50%
12 Mths p.a.
4.75%
24 Mths p.a.
4.80%
Go to siteMore Info
Great Southern Bank Term Deposit Account
$5,000 min. deposit$1,000,000 max. deposit
3 Mths p.a.
4.90%
4 Mths p.a.
2.95%
5 Mths p.a.
2.95%
6 Mths p.a.
5.20%
7 Mths p.a.
3.05%
12 Mths p.a.
5.20%
24 Mths p.a.
4.40%
Go to siteMore Info
ING Term Deposit
$10,000 min. deposit
3 Mths p.a.
4.75%
4 Mths p.a.
4.75%
5 Mths p.a.
-
6 Mths p.a.
4.85%
7 Mths p.a.
4.65%
12 Mths p.a.
4.90%
24 Mths p.a.
4.50%
Go to siteMore Info
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Alison Finder

Editor

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NEVILLE

January 10, 2024

Hi

can the interest be paid monthly into another bank account if invested for 12 months?

thanks


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Richard Whitten Finder

January 23, 2024

Hi Neville,


I suggest contacting Bank of Sydney directly with this enquiry.


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Alan

January 09, 2024

Is there an upper limit on the government guarantee


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Sarah Megginson Finder

January 09, 2024

Yes, it’s $250,000 per account holder.


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Deb Randall

January 08, 2024

Hi there


Our local sports club would like to invest funds in a term deposit. The investment will need to be in the clubs name, is this okay?


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Richard Whitten Finder

January 09, 2024

Hi Deb,


Please check with Bank of Sydney directly to ask about this.


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Sarah Megginson Finder

January 08, 2024

Hi Deb, yes you can open a term deposit with Bank of Sydney in a business name.


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thomas

January 08, 2024

what is the maximum amount for term deposit for the government guarantee.


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Sarah Megginson Finder

January 08, 2024

Hi Thomas, the government guarantee is valid up to $250,000 per account holder.


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Mark Ashton

January 06, 2024

Hi, I live in Canberra. How can I verify my ID as there are no branches here?

Thanks.


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Sarah Megginson Finder

January 08, 2024

Hi Mark, We’re a comparison site so we can’t provide customer service for Bank of Sydney. You can contact them on 13 95 00.


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