Product details
If you’re looking for somewhere safe and secure to invest $1,000 or more, a Circle Alliance Bank Term Deposit could be just what you’re searching for. Providing guaranteed returns from fixed interest rates of up to 1.55% p.a., a range of term deposits are available with terms ranging from one month to five years. Take a closer look at the features offered by these accounts to decide whether a term deposit could be right for you.
The below rates are for deposits between $1,000 and $4,999 however you can secure a higher interest rate if you choose to deposit more money.
- Product Name
- Circle Alliance Bank Term Deposit
- 1 month interest rate
- 0.55%
- 3 month interest rate
- 0.55%
- 4 month interest rate
- 0.80%
- 6 month interest rate
- 1.05%
- 9 month interest rate
- 1.05%
- 12 month interest rate
- 1.30%
- 24 month interest rate
- 1.55%
- Min Deposit
- $1,000
- Max Deposit
- $4,999
What are the features of Circle Alliance Bank Term Deposits?
Earn up to 1.55% p.a..
Circle Alliance Bank Term Deposits pay competitive fixed interest rates of up to 1.55% p.a.. on your investment between $1,000 and $4,999 , allowing you to enjoy guaranteed returns. Rates are tiered depending on the balance you invest:
| $1,000–$4,999 | $5,000–$250,000 | Over $250,000 |
Terms ranging from 1 month to 5 years
Circle allows you to choose your investment period from the following terms: 1 month, 2 months, 3 months, 4 months, 5 months, 6 months, 7 months, 8 months, 9 months, 10 months, 11 months, 12 months, 15 months, 24 months, 36 months, 48 months or 60 months.
Minimum investment of $1,000.
You’ll need to invest at least $1,000 if you want to open an account.
No maximum investment
There is no maximum limit on the amount you can invest in a Circle Alliance Bank Term Deposit, so you can deposit as much money as you would like and then sit back and watch it grow. The more you invest, the better the interest rate will be.
Interest paid quarterly, half-yearly, yearly or at maturity
Depending on the length of your term, you can choose to have interest on your deposit paid quarterly, half-yearly, yearly or at maturity. Rates vary depending on the interest payment frequency you choose.
No ongoing fees
There are no monthly account-keeping fees attached to Circle Alliance Bank’s range of term deposits.
Pros
- Terms ranging from 1 month to 5 years.
- No ongoing fees.
- Minimum investment of $1,000
Cons
- Can not access your money for the length of the term
What you’ll need to know before applying
If you’re looking for a term deposit account with a competitive fixed interest rate, click on one of the “Find out more” links on this page. This will take you to the Circle Alliance Bank website where you can find more information about Circle’s range of accounts and also download an application form.
Application options
You can download a term deposit application form from the Circle Alliance Bank website. To complete the form you will need to provide:
- Personal details. These include your full name, your Circle Alliance Bank membership number and your signature.
- Tax file number. You can provide your tax file number or exemption if you wish, but this is not a compulsory requirement.
- Account details. You’ll need to specify the type of account you would like to open and how you would like to manage your account.
Documentation needed
You’ll need to become a Circle Alliance Bank member before you can sign up for an account, so you will need to fill out a membership application form and purchase a $2 membership share. The form is available for download from the Circle Alliance Bank website.
You will need to provide the following details to complete the application form:
- Personal information. You will need to supply your full name and date of birth, your gender, and your citizenship and residency details.
- Contact information. Next, provide your mailing address and your phone and email contact details.
- Employment information. You will need to supply the name of your employer and your occupation title.
- Proof of ID. You will need to provide valid proof of ID, for example, your current driver’s licence or passport.
Eligibility criteria
You will need to satisfy the following eligibility criteria in order to open a term deposit with Circle Alliance Bank:
- Membership requirement. You must be a member of Circle Alliance Bank to apply.
- $1,000 deposit requirement. You must invest at least $1,000 to be eligible to open an account.
With competitive fixed rates and a wide range of terms available, CIRCLE Alliance Bank’s range of term deposits is well worth a look if you want a safe and secure investment. See how they stack up against similar accounts from other financial institutions before deciding where to invest your money.
Related savings accounts
Circle Alliance Bank Christmas Club Account (S45)
Maximum Variable Rate
1.00Standard Variable Rate
1.00
