Bendigo Bank Term Deposit

Bendigo Bank Term Deposit

Min. Opening Deposit


Account Keeping Fee


Invest any amount from $1,000, choose a term from one month to five years, and don’t pay any account keeping fees.

  • One month to five year terms
  • No monthly fees
  • Minimum deposit of $1,000

Product details

Bendigo Bank enables you to make short-term and long-term savings plans through its term deposits, and you get to choose from regular and gold term deposits. With a regular term deposit you can choose between different terms, and with a gold term deposit you can withdraw up to 25% of your original deposit any time you want.

A Bendigo Bank term deposits can be suitable for both short or longer-term investments.

Product Name
Bendigo Bank Term Deposit
1 month interest rate
3 month interest rate
4 month interest rate
6 month interest rate
9 month interest rate
12 month interest rate
24 month interest rate
36 month interest rate
48 month interest rate
60 month interest rate
Min Deposit

What are the features of the Bendigo Bank Term Deposit?

Bendigo Bank term deposits come with a number of features you should know of, and here’s what you can expect if you plan to get one.

  • Low starting amount. You can open a regular Bendigo Bank term deposit with as little as $1,000, whereas many other banks require you to start with $5,000 or $10,000. For a gold term deposit, the minimum required is $2,000.
  • Variable terms. The term you choose depends on the duration of time you can do without the money you wish to invest, and you can choose from terms in between one month and five years. With the gold term deposit, you can only get a 12 months term.
  • Access funds. If you get a gold term deposit, you can access up to 25% of the original deposit without paying any penalties, and this gives you considerable freedom in using the deposited funds.
  • Additional deposits. Customers can make additional deposits to their gold term deposit at any time. With a standard term deposit they can make additional deposits within 7 days of opening or renewal.
  • Maturity options. 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.
  • Tiered interest rate. While longer loan terms earn more interest than shorter loan terms, the amount you wish to invest also has a bearing on the interest your Bendigo Bank term deposit earns. This is because Bendigo Bank offers separate interest rate tiers for deposits in between $1,000 to $4,999 and $5,000 and $5,000,000.
  • 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 $1,000, 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.
  • No fees. Both, regular and gold term deposits don’t attract any set up fees or ongoing account keeping fees.
  • Access. You can access your term deposit from any Bendigo Branch, and not just your home branch.


  • A fixed interest rate with guaranteed returns
  • $0 account-keeping fees


  • Minimum investment of $1,000

How do you apply for the Bendigo Bank Term Deposit?

To enquire online, visit Bendigo Bank website.


Before you decide opening a Bendigo Bank term deposit bear in mind you have to meet certain eligibility criteria, which are as follows.

  • You’re an Australian resident from a taxation point of view
  • You meet Bendigo Bank’s minimum age requirement
  • You are opening a regular term deposit with at least $1,000, or a gold term deposit with at least $2,000


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. Before Bendigo Bank opens your term deposit it verifies your identity, for which you have to provide suitable identification documents.
  • 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.

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.

Q: Where is the details about the gold term deposit? WHY such a different interest reward at the end of the fixed term of 12 months with gold term deposit account compared to the min $5,000 fixed term account?

A: With the gold term deposit, you can make a minimum investment of $2,000 and open a 12 month deposit account that allows you to make $500 or more additions at any time and allows you to make withdrawals of up to 25% with no penalty. As is an online comparison service, we cannot comment on the structure of products offered by Bendigo Bank. We suggest that you get in contact with them directly to discuss any concerns you may have.

Q: What are the rules regarding an overseas investor.

A: As is an online comparison service, we do not represent Bendigo Bank. Please note that if you’re a non-Australian resident, Bendigo Bank may ask about your activities and intention for opening an account with an Australian bank. You may also need to provide additional documentation. We suggest that you get in touch with Bendigo Bank directly.

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