Bendigo Bank term deposit (under $5000)
- Interest rate 12 months interest rate
- Up to 0.15% p.a.
- Minimum opening deposit
- Account keeping fee
- Maximum deposit
This term deposit by Bendigo Bank allows you to earn some interest on small deposit amounts between $0 and $4,999. The interest rates offered for deposits under $5000 aren't very high, however, balances above this earn a much higher rate.
A fixed interest rate with guaranteed returns
$0 account-keeping fees
Minimum investment of $0
|Product Name||Bendigo Bank Term Deposit - $0-$4,999|
|3 month interest rate||0.05%|
|4 month interest rate||0.05%|
|6 month interest rate||0.10%|
|7 month interest rate||0.10%|
|9 month interest rate||0.10%|
|12 month interest rate||0.15%|
|24 month interest rate||0.15%|
|36 month interest rate||0.15%|
|48 month interest rate||0.15%|
|60 month interest rate||0.15%|
|Minimum Opening Deposit||$0|
|Joint account availability||Yes|
|Available to children||No minimum age|
Low starting deposit
You can open a regular Bendigo Bank term deposit with a balance between $0 and $4,999. If you've got more to invest you can access higher interest rates with a Bendigo Bank term deposit $5,000+.
Lots of term lengths
You can choose a term length from as little as 3 months, to up to 5 years depending on how long you're able to lock your deposit away.
At maturity, you can renew your term deposit as it is, you can add additional funds to it, or you can withdraw the amount - entirely or partially. Upon partial withdrawal, you get to renew the remainder.
Earn interest quarterly, monthly, half yearly, or annually
Depending on the term you opt for, you can choose between earning interest quarterly, monthly, half yearly, or annually. When you invest more than $0, and if you opt for a longer term, you stand to earn higher interest if you opt for annual payout of interest as opposed to monthly or quarterly.
Term deposits don't attract any set up fees or ongoing account keeping fees.
You can access your term deposit from any Bendigo Branch, Internet or phone banking.
How to apply
To enquire online, visit Bendigo Bank's website. Someone will contact you about your application after submitting the form.
- You're an Australian resident from a taxation point of view
- You're over 18.
As part of the process required in opening a new term deposit, you have to provide the following information.
- Personal information. These comprise your complete name, date of birth, contact details, and tax file number.
- Identification documents. You'll need to supply ID in the form of an Australian passport, driver's licence or Madicare card.
- Linked account. Upon maturity of your term deposit, Bendigo Bank transfers the money in a nominated bank account if you don't opt for renewal, and you have to provide details of this account at the time of application.
What happens after I submit my application?
Once you complete the formalities required to open your new term deposit, Bendigo Bank verifies all the details you provide, and then requests for funds from the nominated bank account. Opening of the term deposit follows, after which you can expect to receive related documentation via mail.
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July 20, 2023
What happens if i want to break the term deposit a couple of months early ? why does it take 31 days to get your money ?
Alison Banney Finder
July 21, 2023
Hi Adam, if you want to break your term deposit early you’ll need to give 31 days notice and an interest rate reduction may apply. This is because term deposits are designed to be locked until they mature – they’re not meant to be accessed early.
June 20, 2023
How do I take my money out of a term deposit on maturity date
Sarah Megginson Finder
June 23, 2023
Hi Sue Ellen,
On maturity date, you can withdraw funds by transferring them out of your term deposit account into an every-day transactional/savings account. You can do this online, through the app or at a branch.
Hope this helps!
August 04, 2022
If I invest in term deposit for 24 months with a deposit of $200;000 what will be my return and my % rate
Alison Banney Finder
August 08, 2022
If the interest will be paid at maturity, monthly, quarterly, and semi-annually, the rate is 2.85% p.a while the interest paid yearly gets 2.90% p.a (as of Aug 2022).
February 18, 2019
What is the interest rate for a Term Deposit of $50,000, please?
February 20, 2019
Thank you for your comment.
The rates on the page above are for balances below $5000. The rate for a balance of $50,000 depends on how long the term is. For a balance of $50,000, the current interest rate for a 12 month term is 1.70% p.a., and the interest on a 24 month term is 1.95% p.a. These rates are correct as of 1st July 2019 and are subject to change.
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