Bank First Term Deposit

With a minimum deposit of $500 and terms ranging from one month to five years, Bank First Term Deposits can help you save for the future.

Term deposits pay fixed interest to provide consistent, guaranteed returns on the money you invest. This allows you to efficiently grow your savings balance, safe in the knowledge of exactly how much your deposit will be worth when the term comes to an end. Bank First provides term deposit accounts featuring terms ranging from one month to five years. A minimum deposit of $500 is required.

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Product NameBank First Term Deposit ($500 - $19,999)
3 month interest rate0.25%
4 month interest rate0.35%
6 month interest rate0.35%
9 month interest rate0.40%
12 month interest rate0.50%
24 month interest rate0.50%
36 month interest rate0.50%
48 month interest rate0.50%
60 month interest rate0.50%
Minimum Opening Deposit$500
Minimum Age Requirement18
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

Minimum deposit of $500

The minimum deposit required to open a Bank First term deposit is $500. This figure rises to $5,000 for a 1 Year Regular Income Term Deposit.

Choice of terms

You can choose to invest your funds for the term that best suits your budget and financial needs. Terms available are 30 days, 60 days, 90 days, 120 days, 180 days, 270 days, 1 year, 2 years, 3 years, 4 years and 5 years.

Launch term deposit calculator

How to apply

If you'd like to apply for a Bank First term deposit account, click on the "Apply now" link on this page. Once you've reached the bank's website, you can start filling out the quick online application form.


You will need to meet the following eligibility criteria:

  • Minimum age. You must be at least 18 years of age to open a term deposit.
  • Residency requirements. Only Australian residents are eligible to apply.

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