In this guide

  • Review
  • Details
    • Product details
  • Key features
  • How to apply
  • Compare other term deposit accounts
  • Your reviews
  • Ask a question
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Great Southern Bank Platinum Plus 55+

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Great Southern Bank Platinum Plus 55+
Interest rate 12 months interest rate
Up to 5.3% p.a.
Minimum opening deposit
$5,000
Maximum deposit
$1,000,000
Maximum balance
$1,000,000

Summary

The term deposit rates on the Great Southern Bank Platinum Plus 55+ are for people aged 55 and over.

The Great Southern Bank Platinum Plus 55+ is a term deposit for older Australians. You can lock up your money for an agreed term and then earn a fixed rate of interest. The highest rate you can get with this term deposit is 5.3% for the 12-month term.

This rate is one of the highest on the market. But all the other terms are much less competitive. Also, you'll get higher rates if you choose to have interest paid at maturity rather than monthly.

Pros

  • Competitive rate on the 1 year term
  • Minimum deposit of just $5,000

Cons

  • Only for people 55 and over
  • Only the 1 year term is really competitive

In this guide

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

Details

Product details

Product Name Great Southern Bank Platinum Plus 55+
12 month interest rate 5.30%
24 month interest rate 4.50%
36 month interest rate 3.90%
48 month interest rate 3.90%
60 month interest rate 3.90%
Minimum Opening Deposit $5,000
Minimum age requirement 55
Government guarantee Yes

Key features

The Great Southern Bank Platinum Plus 55+ is a term deposit for older Australians. You can lock up your money for an agreed term and then earn a fixed rate of interest. The highest rate you can get with this term deposit is 5.3% for the 12-month term.

This rate is one of the highest on the market. But all the other terms are much less competitive. Also, you'll get higher rates if you choose to have interest paid at maturity rather than monthly.

Term lengths

Terms range from 1 to 5 years. The 1-year term with interest paid at maturity is the highest rate.

No account fees

There's no account fees with the Great Southern Bank Platinum Plus 55+.

Interest options

You can choose to get interest paid monthly or at maturity (the end of the term).


How to apply

Eligibility

The Great Southern Bank Platinum Plus 55+ is for people aged 55 or older.

Compare other term deposit accounts

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BCU Term Deposit
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MyState Bank Online Term Deposit
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Community First Bank Term Deposit
$5,000 min. deposit$99,999 max. deposit
3 Mths p.a.
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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.
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6 Mths p.a.
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24 Mths p.a.
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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.
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6 Mths p.a.
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7 Mths p.a.
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12 Mths p.a.
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24 Mths p.a.
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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%
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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%
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