BDCU Alliance Bank Term Deposit

Last updated: 30 March 2020

Enjoy interest of up to 0.45% on your investment with a BDCU Alliance Bank Term Deposit.

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 24 months, these accounts allow you to take advantage of a competitive interest rate of 0.45% across most term deposits.

Up to 0.45% p.a.

Interest rate

1 month interest rate

$1,000

Minimum opening deposit

$4,999

Maximum deposit

Details

Product Name	BDCU Alliance Bank Term Deposit
3 month interest rate	0.45%
4 month interest rate	0.45%
6 month interest rate	0.45%
7 month interest rate	0.45%
9 month interest rate	0.45%
12 month interest rate	0.45%
24 month interest rate	0.45%
Minimum Opening Deposit	$1,000
Minimum Age Requirement	18

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.

Minimum Age Requirement	18
Joint account availability	No
Min Deposit	$1,000
Available to children	Not available for children

Pros

Low minimum investment of $1,000
Wide range of terms from 1 months to 24 months
Automatic rollover option available
Special six month rate available for larger deposits

Cons

Can not access money until the term matures
No term lengths over 24 months

Alison Banney

Alison Banney is the banking and investments editor at Finder. She has written about finance for over six years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business. She has previously worked at Westpac, and has written for several other major banks including BCU, Greater Bank and Gateway Credit Union. Alison has a Bachelor of Communications from Newcastle University with a double major in journalism and public relations. She has ASIC RG146 compliance certificates for financial advice, securities and managed investments and superannuation.

Key features

Earn up to 0.45% for most terms

A standard rate of 0.45% 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 24 months

You can choose the term that suits your investment timeframe, with available terms ranging from 1 to 24 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.

Launch term deposit calculator

How to apply

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

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.

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BDCU Alliance Bank Term Deposit