In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Your reviews
  • Ask a question
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Greater Bank Term Deposit $5,000 – $49,999

Greater Bank Term Deposit $5,000
Interest rate 6 months interest rate
Up to 4.6% p.a.
Minimum opening deposit
$5,000
Account keeping fee
$0

Summary

You can choose from lots of term lengths between 1 month and 5 years and enjoy a fixed interest rate on your money.

You can choose how long to invest your money and when you receive your interest. Either use your interest earned now to help supplement your income, or save it all for later when the account reaches maturity. The interest rate is fixed for the term length that you choose.

Pros

  • No monthly account-keeping fees
  • High interest rate on your savings
  • Flexible terms

Cons

  • No flexibility
  • Minimum investment of $5,000

In this guide

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

Details

Key details

Product Name Greater Bank Term Deposit $5,000
3 month interest rate 3.50%
4 month interest rate 3.50%
6 month interest rate 4.60%
7 month interest rate 3.80%
9 month interest rate 4.00%
12 month interest rate 4.50%
24 month interest rate 4.00%
36 month interest rate 4.00%
48 month interest rate 4.00%
60 month interest rate 4.00%
Minimum Opening Deposit $5,000
Minimum age requirement 16
Government guarantee Yes

Eligibility

Minimum Age Requirement 16
Joint account availability No
Min Deposit $5,000
Available to children Not available for children under 16 years of age

Key features

No fees

There are no monthly or account keeping fees, no account set up fees or transaction fees to pay.

Minimum deposit amount

The rates shown above are available for deposits between $5,000 and $49,999.


How to apply

Eligibility

You have the option of applying for the term deposit account at a Greater Bank branch or online. If you are already a member of the financial institution you can open a new term deposit through Internet banking, while new customers will first need to obtain membership. Before beginning, check to make sure that you are able to meet the eligibility requirements:

  • Minimum age. In order to apply for the term deposit you must be at least 16 years old.
  • Residency requirements. Only permanent residents are eligible for this account.

Your reviews

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Avatar

Sue

December 08, 2022

I have my money with another bank, will it be easy to transfer over?

Will it be at 4% for 12 mths?

It’s over The minimum amount


Avatar

Alison Banney Finder

December 20, 2022

Hi Sue,


Upon opening an account with Greater Bank, you should be able to send the funds (subject to the services your bank provides) to your newly set up account. The steps may vary depending on the bank where the funds will be coming from but typically it can be completed online.


The interest rates would vary depending on the payment option you select.


Interest on maturity with a $5,000.00 – $49,999.99 deposit: 4.00% p.a.

Monthly interest with the same deposit amount: 3.90% p.a.


Thanks,

Alison


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Peter Hart

November 17, 2022

Is there a maximum deposit amount for 12 months at 4%


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Alison Banney Finder

November 22, 2022

Hi Peter,


There is no maximum deposit amount, however, the minimum is $1000.


Thanks,

Alison


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REG AND MARGARET GREEN

November 03, 2022

Please advise term deposit rates for one amount of $100,000 in private name and second amount in name of SMSF for $190,000 for periods of

1 year and 2 years!


Avatar

Alison Banney Finder

November 11, 2022

Hi Reg and Margaret Green,


The Term Deposit interest rate on Maturity for $50,000.00 is 4% for both 12 months and 24-35 months. You may check the table on their website.


All the best,

Alison


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Mike

June 19, 2017

Why do the links to Greater Bank not working?


Avatar

Rench Finder

June 19, 2017

Hi Mike,


Thanks for reaching out to us.


I have tried clicking on the green ‘Go to site’ button above this page and it directed me to Greater Bank official site successfully. Please try to use another browser or there might be a setting in your browser that’s blocking the pop-up.


Hope this helps.


Cheers,

Rench


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greg

June 17, 2017

do deposits have the government guarantee


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danielle.valino@findercrew.com

June 17, 2017

Hi Greg,


Thank you for contacting finder.com.au. We are a comparison website and general information service, we’re more than happy to offer general advice.


Yes. Greater Bank is subject to the same regulatory standards and rules as the major banks that are set by the Australian Prudential Regulation Authority (APRA) to protect you.


I hope this helps.


Cheers,

Danielle


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