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Bank of Melbourne term deposit account

Open a Bank of Melbourne term deposit with as little as $1,000 and look forward to flexible maturity options.

Bank of Melbourne accepts term deposits of amounts in between $1,000 and $2,000,000, and you can choose from terms in between one month and five years. These term deposits don’t attract any ongoing fees, Bank of Melbourne gives you flexible interest repayment options, and you get various options when your term deposit matures.

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Product NameBank of Melbourne Term Deposit
3 month interest rate0.07%
4 month interest rate0.07%
6 month interest rate0.15%
7 month interest rate0.20%
9 month interest rate0.20%
12 month interest rate0.25%
24 month interest rate0.30%
36 month interest rate0.30%
48 month interest rate0.30%
60 month interest rate0.30%
Minimum Opening Deposit$1,000
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

SPECIAL OFFER: 2.25% for 12 to 23 months

If you are a new customer and open a new term deposit account or if you are an existing customer and renew your term deposit account, you will enjoy 2.25% for 12 to 23 months on deposit from $1,000 to $5,000,000 with interest paid on maturity. This offer is available for a limited time and other terms and conditions apply.

Invest from $1,000

Bank of Melbourne gives you considerable freedom on how much you can invest through its term deposits. The minimum required to open a Bank of Melbourne term deposit is just $1,000, and you can invest as much as $2,000,000.

Variable terms

With a Bank of Melbourne term deposit, you can invest your money for a short term or a long term. You can invest your money for any number of months, up to 12 months, and you can also invest it for two, three, four or five years.

Launch term deposit calculator

How to apply

You can apply for a Bank of Melbourne term deposit online, over the phone, or by visiting any Bank of Melbourne branch.


To apply now, simply click on the 'Go to Site' button, but make sure you meet the following eligibility criteria.

  • You're over 18 years old.
  • You're a permanent Australian resident.

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