Product details
If you’re looking for a safe and secure way to invest $1,000 or more and enjoy a guaranteed return on your investment, a BDCU Alliance Bank Term Deposit could be the ideal solution. With terms ranging from 1 to 48 months, these accounts allow you to take advantage of a competitive interest rate of 1.15% p.a. across most term deposits.
- Product Name
- BDCU Alliance Bank Term Deposit (I22)
- 1 month interest rate
- 1.15%
- 3 month interest rate
- 1.15%
- 6 month interest rate
- 1.15%
- 9 month interest rate
- 1.15%
- 12 month interest rate
- 1.15%
- 24 month interest rate
- 1.15%
- 36 month interest rate
- 1.15%
- Min Deposit
- $1,000
- Minimum Age Requirement
- 18
What are the features of the BDCU Alliance Bank Term Deposit?
SPECIAL OFFER: 2.05% p.a. fixed rate term deposit for six months
If you invest $10,000 or more in a BDCU Alliance Bank Term Deposit for just six months, you can benefit from a special competitive interest rate of 2.05% p.a.
Earn up to 1.15% p.a. for most terms
A standard rate of 1.15% p.a. applies across the board to all terms.
Minimum investment of $1,000
The minimum investment required to open a term deposit with BDCU Alliance Bank is $1,000.
Terms from 1 to 48 months
You can choose the term that suits your investment timeframe, with available terms ranging from 1 to 48 months.
Interest paid monthly, semiannually or at maturity
BDCU Alliance Bank offers a choice of three flexible interest payment options. You can have the interest your term deposit earns paid every month to provide an ongoing income stream, paid every six months to generate income twice a year, or paid annually.
Negotiable interest rates when you invest over $100,000
If you’d like to invest more than $100,000 in a BDCU Alliance Bank Term Deposit, you have the freedom to negotiate the interest rate you want with the bank.
Terms vary based on interest payment frequency
The terms available on BDCU Alliance Bank’s range of term deposits vary depending on how often you choose to receive interest payments:
- If interest is paid at maturity, terms range from 1 to 48 months.
- If interest is paid semiannually or monthly, terms range from 6 to 48 months.
Automatic rollover
If you do not provide any instructions to the bank before your term deposit matures, it will automatically be reinvested for the same term at the prevailing interest rate on offer for that term.
Pros
- Earn interest rate up to 1.15% p.a. for balances below $4999
- Low minimum investment of $1,000
- Wide range of terms from 1 months to 48 months
- Automatic rollover option available
- Special six month rate available for larger deposits
Cons
- Can not access money for length of term
What you’ll need to know before applying
If you want to enjoy the security of consistent returns provided by a BDCU Alliance Bank Term Deposit, click on one of the “Apply Now” links featured on this page. You will be taken to the BDCU Alliance Bank website so you can browse the terms and conditions of this account and download an application form.
Application options
Although you can’t open an account online, there are three other ways you can apply for an account:
- Download a form. Click the relevant download link on the BDCU Alliance Bank website to access an application form. You can then fill out the form and submit it by post or by visiting your nearest BDCU Advice Centre.
- Visit an advice centre. To receive personalised advice in a face-to-face setting, you can apply by visiting a BDCU Alliance Bank advice centre.
- Apply over the phone. You can apply over the phone by calling the bank’s customer service hotline.
Documentation needed
New customers must provide ID before they can open an account with BDCU Alliance Bank. Your driver’s licence, proof-of-age card or passport are three of the most commonly accepted forms of ID, but contact the bank for details of other options if you can’t supply any of the above.
Eligibility criteria
You will need to satisfy a couple of simple criteria in order to open a BDCU Alliance Bank Term Deposit:
- Residency requirement. You must be an Australian citizen or permanent resident to open an account.
- Deposit requirement. You must invest at least $1,000 to open a BDCU Alliance Bank Term Deposit.
If you want a competitive interest rate and guaranteed returns, a BDCU Alliance Bank Term Deposit could be just what you need. However, compare interest rates, features and fees across a wide range of term deposits to find the right investment account for you.
Related savings accounts
BDCU Alliance Bank My Community Savings Account
Maximum Variable Rate
1.15Standard Variable Rate
1.15
