Great Southern Bank Term Deposit Account

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Interest rate 7 months interest rate: Up to 4.10% p.a.
Minimum opening deposit: $5,000
Account keeping fee: $0
Maximum deposit: $1,000,000

Summary

Plan your financial future by locking down your money in a competitive, fixed-rate term deposit with Great Southern Bank.

You'll know ahead of time what the return on your investment will be with a fixed-rate term deposit from Great Southern Bank, helping you plan and meet future savings goals. The terms of the account are also really flexible; you can choose a term length from one month to five years, and you can get started from just $5,000.

Pros

$0 monthly service fees
$0 application fee required
Terms from one month to five years in length
Competitive interest rates for longer terms

Cons

Minimum deposit of $5,000 needed

Details

Key details

Product Name	Great Southern Bank Term Deposit Account
3 month interest rate	4.05%
4 month interest rate	4.00%
6 month interest rate	3.80%
7 month interest rate	4.10%
9 month interest rate	4.05%
12 month interest rate	4.05%
24 month interest rate	3.50%
36 month interest rate	3.30%
48 month interest rate	3.30%
60 month interest rate	3.30%
Minimum Opening Deposit	$5,000
Minimum age requirement	18
Government guarantee	Yes

Eligibility

Minimum Age Requirement	18
Joint account availability	Yes
Min Deposit	$5,000
Available to children	Not available for children

Key features

No monthly account keeping fees

No account keeping fees will be deducted from your balance.

Terms from one month to five years

This account offers a huge range of term lengths to choose between, from just one month to five years.

Minimum deposit of $5,000

In order to invest in a term deposit with Great Southern Bank you must make a minimum deposit of $5,000.

Competitive interest rates

The fixed competitive rates are tiered to give you the highest rate of return when you choose longer terms.

Interest paid monthly, annually or at maturity

You have the option of having interest paid to you monthly, annually or at maturity. However if you do choose monthly interest payments the fixed interest rate will be decreased. All interest payments with the exception of those made at maturity will be paid into a separate account nominated by you.

Platinum Plus Club members

Customers over the age of 55 can see a higher rate of return on their term deposit of one to three years.

Term maturity

You will be notified when your term is about to reach maturity and asked for instructions on how to proceed with your account. If you don't provide Great Southern Bank with further instruction your terms will be rolled over into a new one for the same length of time but at the current interest rate. You are given a 14 day grace period where you can contact Great Southern Bank and make changes or additional deposits to the new account.

How to apply

If you've compared your options and believe the Great Southern Bank Term Deposit is right for you, you can open an account online in less than 15 minutes. If you're not a Great Southern Bank customer you'll need to become a member before you can open an account. But don't worry, this will be done for you when you submit your application for this product.

Before you begin the application, make sure you meet the following eligibility requirements and have the necessary documents ready.

Eligibility

Minimum age. Only applicants aged 18 or older will be allowed to open a term deposit.
Residency requirements. This account is only available for permanent Australian residents.

Depository requirements. A minimum deposit of $5,000 is required. Your account will be activated immediately if you have that amount ready for transfer in an existing Great Southern Bank bank account.

Documentation needed

Tax file number. With interest earning accounts, Great Southern Bank is obligated to withhold tax on the earnings. To ensure that this is done at the correct rate, they will ask for your tax file number (TFN) or exemption code. You are under no obligation to provide this information, but if you don't, tax will be applied at the highest marginal rate.
Identification. Information from your passport, driver's licence or Medicare card will be used to verify your identity.
Account details. If you are planning on using an account that is not held by Great Southern Bank to make deposit transfers out of and interest payments into, you will need to provide the account number, BSB and account name in order for that money to be transferred.

What happens after I submit my application?

As soon as Great Southern Bank receives the initial deposit for your account, it will be activated and begin earning interest. You will also be issued a certificate that outlines the terms and conditions of your term deposit.

Sources

Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you're getting accurate, up-to-date information. Articles are fact checked in line with our editorial guidelines.
1. Great Southern Bank Term Deposit Account information page
2. Great Southern Bank Term Deposit Account TMD

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Alison Finder

Editorial Manager, Money

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Sylvia Wemm

September 25, 2025

Hi we have a term deposit with P & N I believe you may be joining forces with them. I have never heard of you how safe is my money going to be???

Alison Banney Finder

September 30, 2025

Hi there,

You’ve reached Finder – not Great Southern Bank.

However, we can confirm that Great Southern Bank is a fully licensed bank (just like P&N) and your deposit up to $250,000 is protected under the Government’s bank guarantee scheme.

Thanks,

Alison

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Chris

June 06, 2023

Can you please email application form for SMSF Term deposit with individual trustees

Sarah Megginson Finder

June 28, 2023

Hi Chris,

We’re not directly affiliated with Great Southern, we are a review site so we’re not in a position to provide customer support. You’ll need to contact them directly to access this form.

Best of luck.

Michelle

August 23, 2019

Hi interested in term deposit for 12 months for 200,000. Can you tell me if you have to set up an everyday account Eg with conditions to spend x amount a monthetc to invest this money with CUA

Nikki Angco

August 24, 2019

Hi Michelle,

Thanks for leaving an inquiry about CUA Term Deposit on our page. When you open a CUA Term Deposit, you don’t need to set up an everyday transaction with no monthly account keeping fees or an application fee, your savings won’t be reduced by unnecessary costs.

As a friendly reminder, review the eligibility criteria, fees, interest rates, and terms & conditions of this account before applying. You may also contact the bank should you have any questions about their product.

Best,

Nikki

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Therese

August 06, 2019

Is CUA government guaranteed?

Jeni Finder

August 06, 2019

Hi Therese,

Thank you for getting in touch with Finder.

Yes, Credit Union Australia (CUA) is included in the Australian Government Guarantee Scheme.

I hope this helps.

Thank you and have a wonderful day!

Cheers,

Jeni

Bill

November 11, 2017

Can I take part of my fixed term deposit before maturaty for financial reasons

Arnold

November 11, 2017

Hi Bill,

Thanks for your inquiry

The page above states that for term deposits of two years or less, an early withdrawal will only be allowed at the discretion of CUA. If approved, adjustments will be made in the interest rate to reflect the change in terms. For term deposits greater than two years, your funds are available to you when needed with no penalty or interest reduction.

Hope this information helps

Cheers,

Arnold

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Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full profile

Great Southern Bank Term Deposit Account

Pros

Cons

Key features

No monthly account keeping fees

Terms from one month to five years

Minimum deposit of $5,000

Competitive interest rates

Interest paid monthly, annually or at maturity

Platinum Plus Club members

Term maturity

How to apply

Eligibility

Documentation needed

What happens after I submit my application?

Sources

Sources

Your reviews

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