Bank Australia Term Deposit Account

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A term deposit account locks your money away with a fixed interest rate, to help you meet future financial goals.

Bank Australia offers members a flexible term deposit with a competitive fixed interest rate and a minimum deposit amount of just $500. You can choose a term length that suits you, as well as choose how often you'd like to receive your interest payments.

Up to 0.8% p.a.

Interest rate

36 months interest rate

$500

Minimum opening deposit

$0

Account keeping fee

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Details

Product NameBank Australia Term Deposit Account
3 month interest rate0.35%
4 month interest rate0.35%
6 month interest rate0.45%
7 month interest rate0.45%
9 month interest rate0.45%
12 month interest rate0.60%
24 month interest rate0.60%
36 month interest rate0.80%
Minimum Opening Deposit$500
Minimum Age Requirement13
The rates displayed above are interest rates paid at maturity only. We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide.

Key features

No monthly account-keeping fees

With Bank Australia you will not be charged any setup fees or monthly account-keeping fees on the term deposit.

Minimum investment of just $500

You can invest from as low as $500 into a Bank Australia term deposit so there's no need to wait until you have a larger deposit.


How to apply

If you're not a member of Bank Australia already, you will need to become a member at the same time that you open your account online. You'll also be able to open a new Bank Australia transaction account at the time of applications, which you'll need to receive your interest payments from your term deposit. Before you start the application process, check the following eligibility requirements.

Eligibility

  • Minimum age. In order to begin your application online you must be at least 13 years of age.
  • Residency requirements. Only an Australian citizen or resident can become a member of Bank Australia.

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