In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Compare other term deposit accounts
  • Your reviews
  • Ask a question
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BankVIC Term Deposit
Interest rate 6 months interest rate
Up to 4.8% p.a.
Minimum opening deposit
$5,000
Account keeping fee
$0

Summary

Yu can earn a fixed rate of return on your deposit, however eligibility criteria applies in order to become member.

Members can choose between a wide range of term lengths, from 3 months to 5 years, and earn a fixed interest rate on deposits of $5,000 or more.

Membership is limited to police officers, emergency response workers and other individuals working in public service and their family members, or if you live within 5kms of a branch.

Pros

  • Competitive interest rates
  • Interest is calculated daily and paid annually and on maturity
  • No management or account keeping fees
  • Funds are capital guaranteed up to $250,000

Cons

  • A minimum deposit of $5,000 is required

In this guide

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

Details

Key details

Product Name BankVIC Term Deposit
3 month interest rate 3.60%
4 month interest rate 4.00%
6 month interest rate 4.80%
7 month interest rate 3.70%
9 month interest rate 3.70%
12 month interest rate 4.75%
24 month interest rate 4.50%
36 month interest rate 4.50%
48 month interest rate 4.50%
60 month interest rate 4.50%
Minimum Opening Deposit $5,000
Minimum age requirement 18
Government guarantee Yes

Eligibility

Minimum Age Requirement 18
Joint account availability No
Min Deposit $5,000
Available to children Not available for children

Key features

$0 Monthly management fees

There is no monthly management fee for the term deposit account.

Range of terms available

You have the option of choosing terms ranging from 3 months up to 5 years.

Minimum opening deposit

The minimum balance amount is $5,000 in order to be eligible to earn interest.

Your interest rate is fixed for the period

The interest rates are fixed at a rate dependent on the length of your terms and amount on deposit. Generally the longer you choose to invest and the larger your balance, the higher the rates will be.

How is my interest calculated?

The interest will be calculated on your daily balance and paid to the account annually and at maturity.


How to apply

Eligibility

BankVic offers multiple means of applying for their term deposit, including online which can be accessed by visiting their website. Keep in mind that this option is only available to existing members. If you have not yet signed up you will need to first complete that application. Other eligibility requirements you should know include:

  • Minimum age. You must be at least 18 years of age to apply online.
  • Residency requirements. BankVic membership and their products is only available to Australian residents and citizens.

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.
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.
5.00%
12 Mths p.a.
4.80%
24 Mths p.a.
3.95%
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
Judo Bank Term Deposit
Finder Award$1,000 min. deposit
3 Mths p.a.
4.85%
4 Mths p.a.
-
5 Mths p.a.
-
6 Mths p.a.
5.10%
7 Mths p.a.
-
12 Mths p.a.
5.10%
24 Mths p.a.
4.85%
Go to siteMore Info
Newcastle Permanent Term Deposit
$1,000 min. deposit
3 Mths p.a.
3.50%
4 Mths p.a.
3.50%
5 Mths p.a.
3.50%
6 Mths p.a.
4.60%
7 Mths p.a.
3.80%
12 Mths p.a.
4.50%
24 Mths p.a.
4.00%
Go to siteMore Info
BCU Term Deposit
$1,000 min. deposit$999,999 max. deposit
3 Mths p.a.
4.40%
4 Mths p.a.
3.70%
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
Community First Bank Term Deposit
$5,000 min. deposit$99,999 max. deposit
3 Mths p.a.
4.20%
4 Mths p.a.
4.20%
5 Mths p.a.
4.20%
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.
4.25%
4 Mths p.a.
4.25%
5 Mths p.a.
4.25%
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
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Alison Finder

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Pree Sarathy

June 26, 2018

Hello, I’m from BankVic I’ve been trying to reach someone to amend our rates on your site as they are incorrect. I haven’t heard back and we need to chnage this asap.

thanks,

Preethi


Avatar

Nikki Angco

June 27, 2018

Hi Pree,


Thanks for bringing this to our attention.


Sorry for the delay. We are thrilled to know you are interested in partnering with us! Our team is working double-time to accommodate all requests. In the meantime, kindly go to our Partner with us page. Please fill out the form with the necessary details about your company on this page and click the “Submit” button. Our Client Services team will get in touch with you to discuss the details once we received and evaluated your submitted information.


Cheers,


Nikki


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