In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question
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Heritage Bank Term Deposit

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Heritage Bank Term Deposit
Interest rate 6 months interest rate
Up to 4.9% p.a.
Minimum opening deposit
$1,000
Account keeping fee
$0
Maximum deposit
$4,999

Summary

Invest from as little as $1,000 with some of the best term deposit rates in the market.

The Heritage Bank term deposit guarantees a fixed interest rate so you know what your investment is worth. You can invest from as little as $1,000. You can choose to have your interest paid on maturity, up-front, fortnightly (for aged pension receivers), monthly, quarterly, half-yearly or yearly.

Pros

  • Low minimum investment of $1,000
  • $0 Account keeping fees
  • Wide ranges of terms from from 1 month to 5 years

Cons

  • A reduced interest rate will apply if you withdraw a portion or all of your investment before maturity

In this guide

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

Details

Key details

Product Name Heritage Bank Term Deposit
3 month interest rate 3.95%
4 month interest rate 3.60%
6 month interest rate 4.90%
7 month interest rate 3.95%
9 month interest rate 4.80%
12 month interest rate 4.75%
24 month interest rate 4.20%
36 month interest rate 4.00%
48 month interest rate 4.00%
60 month interest rate 4.00%
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

$0 Monthly account keeping fees

There are no monthly fees, nor are there any establishment fees charged when you set up a term deposit with Heritage Bank.

Small minimum investment of $1,000

You must be able to deposit at least $1,000 for a term deposit with Heritage Bank.

Launch term deposit calculator


How to apply

Heritage Bank is a customer owned financial institution, where you must first become a member in order to take advantage of their banking products. Any Australian is invited to apply for membership, which also includes paying a shareholder fee of $1. After becoming a member, you can visit Heritage bank website and start an online application for a term deposit.

Eligibility

There are some other eligibility requirements you will have to meet in order to be able to proceed with the application:

  • Minimum age. There is no age requirement stated for the Heritage Bank term deposit.
  • Residency requirement. You must be able to provide a verifiable residential address in Australia.

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ING Savings Accelerator ($150,000 - $500,000)
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St.George Maxi Saver
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AMP Saver Account
Maximum Variable Rate p.a.
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First Option Bank Savings+Bonus Account
Maximum Variable Rate p.a.
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Standard Variable Rate p.a.
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Alison Finder

Editor

Hi there, looking for more information? Ask us a question.

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Bob

May 25, 2017

What is the best term deposit rate for 12 months for a smsf for $200,000 current term deposit due 2nd of June?


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Harold Jacob Finder

May 26, 2017

Hi Bob,


Thank you for your inquiry.


Please check our list of SMSF term deposits. You’ll find a list of SMSF term deposits on our comparison table. The same page also comes with a guide about how to apply for an SMSF term deposit online.


I hope this information has helped.


Cheers,

Harold


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