CUA Term Deposit Account

Last updated: Dec 31, 2020

Plan your financial future by locking down your money in a competitive, fixed-rate term deposit with CUA.

You'll know ahead of time what the return on your investment will be with a fixed-rate term deposit from CUA, helping you plan and meet future savings goals. The terms of the account are also really flexible; you can choose a term length from one month to five years, and you can get started from just $5,000.

Up to 0.65% p.a.

Interest rate

12 months interest rate

$5,000

Minimum opening deposit

Account keeping fee

$1,000,000

Maximum deposit

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

Details

Product Name	CUA Term Deposit Account
3 month interest rate	0.50%
4 month interest rate	0.50%
6 month interest rate	0.50%
7 month interest rate	0.50%
9 month interest rate	0.50%
12 month interest rate	0.65%
24 month interest rate	0.65%
36 month interest rate	0.65%
48 month interest rate	0.65%
60 month interest rate	0.65%
Minimum Opening Deposit	$5,000
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	Yes
Min Deposit	$5,000
Available to children	Not available for children

Pros

$0 monthly service fees
$0 application fee required
Terms from one month to five years in length
Competitive interest rates for longer terms

Cons

Minimum deposit of $5,000 needed

Shirley Liu

twitter linkedin

Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.

Key features

No monthly account keeping fees

No account keeping fees will be deducted from your balance.

Terms from one month to five years

This account offers a huge range of term lengths to choose between, from just one month to five years.

Minimum deposit of $5,000

In order to invest in a term deposit with CUA you must make a minimum deposit of $5,000.

Competitive interest rates

The fixed competitive rates are tiered to give you the highest rate of return when you choose longer terms.

Interest paid monthly, annually or at maturity

You have the option of having interest paid to you monthly, annually or at maturity. However if you do choose monthly interest payments the fixed interest rate will be decreased. All interest payments with the exception of those made at maturity will be paid into a separate account nominated by you.

Platinum Plus Club members

Customers over the age of 55 can see a higher rate of return on their term deposit of one to three years.

Term maturity

You will be notified when your term is about to reach maturity and asked for instructions on how to proceed with your account. If you don't provide CUA with further instruction your terms will be rolled over into a new one for the same length of time but at the current interest rate. You are given a 14 day grace period where you can contact CUA and make changes or additional deposits to the new account.

How to apply

If you've compared your options and believe the CUA Term Deposit is right for you, you can open an account online in less than 15 minutes. If you're not a CUA customer you'll need to become a member before you can open an account. But don't worry, this will be done for you when you submit your application for this product.

Before you begin the application, make sure you meet the following eligibility requirements and have the necessary documents ready.

Eligibility

Minimum age. Only applicants aged 18 or older will be allowed to open a term deposit.
Residency requirements. This account is only available for permanent Australian residents.

Depository requirements. A minimum deposit of $5,000 is required. Your account will be activated immediately if you have that amount ready for transfer in an existing CUA bank account.

Documentation needed

Tax file number. With interest earning accounts, CUA is obligated to withhold tax on the earnings. To ensure that this is done at the correct rate, they will ask for your tax file number (TFN) or exemption code. You are under no obligation to provide this information, but if you don't, tax will be applied at the highest marginal rate.
Identification. Information from your passport, driver's licence or Medicare card will be used to verify your identity.
Account details. If you are planning on using an account that is not held by CUA to make deposit transfers out of and interest payments into, you will need to provide the account number, BSB and account name in order for that money to be transferred.

What happens after I submit my application?

As soon as CUA receives the initial deposit for your account, it will be activated and begin earning interest. You will also be issued a certificate that outlines the terms and conditions of your term deposit.

Ask an expert

To ask a question simply log in via your email or create an account.

Click here to cancel reply.

Display Name

Your Email (will not be published)

Your Question

Subscribe me to Finder’s free weekly newsletter for budgeting tools, timely news and savings essentials to take control of your finances

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

Ask a question

18 Comments

Michelle
August 23, 2019

Hi interested in term deposit for 12 months for 200,000. Can you tell me if you have to set up an everyday account Eg with conditions to spend x amount a monthetc to invest this money with CUA

Nikki
August 24, 2019

Hi Michelle,

Thanks for leaving an inquiry about CUA Term Deposit on our page. When you open a CUA Term Deposit, you don’t need to set up an everyday transaction with no monthly account keeping fees or an application fee, your savings won’t be reduced by unnecessary costs.

As a friendly reminder, review the eligibility criteria, fees, interest rates, and terms & conditions of this account before applying. You may also contact the bank should you have any questions about their product.

Best,
Nikki

Therese
August 6, 2019

Is CUA government guaranteed?

finder Customer Care

Jeni
August 6, 2019

Hi Therese,

Thank you for getting in touch with Finder.

Yes, Credit Union Australia (CUA) is included in the Australian Government Guarantee Scheme.

I hope this helps.

Thank you and have a wonderful day!

Cheers,
Jeni

Bill
November 11, 2017

Can I take part of my fixed term deposit before maturaty for financial reasons

Arnold
November 12, 2017

Hi Bill,

Thanks for your inquiry

The page above states that for term deposits of two years or less, an early withdrawal will only be allowed at the discretion of CUA. If approved, adjustments will be made in the interest rate to reflect the change in terms. For term deposits greater than two years, your funds are available to you when needed with no penalty or interest reduction.

Hope this information helps

Cheers,
Arnold

Bob
July 10, 2017

Just renewed $250,000 term deposit for 12 months at a rate of @.70%. According to the above the rate is 2.60% for 12 months. However, being a platinum member with an investment for 12 months the rate should be 2.75%. Is this correct?

Jonathan
July 12, 2017

Hello Bob!

Thanks for the inquiry! :)

For Platinum Plus Members (55+), 1 year Rate with interest on maturity / annually is 2.70%. You can visit their website and look for CUA Term Deposit Rates.

Hope this clarifies.

Cheers,
Jonathan

Peter
April 12, 2017

Hi , if I re invest my a term deposit with CUA and I am over 55 years of age can I still get the bonus .15% interest ?

Arnold
April 13, 2017

Hi Peter,

Thanks for your inquiry.

Yes, you are eligible for the bonus interest rate. As a matter of fact, Customers over the age of 55 can see a higher rate of return on their term deposit of one to three years. Of course, please ensure that you check again their eligibility requirements as they may change over time.

If in case you still want to explore other options, please don’t hesitate to check other term deposit accounts featured on our website.

Hope this information helped.

Cheers,
Arnold

Peter
March 24, 2017

If you choose interest paid monthly, what date is the interest paid? Eg. Is it the last day of the month, anniversary of deposit, or every 30 days?

finder Customer Care

Dee
March 27, 2017

Hi Peter,

Thanks for your question.

If you opt to have your interest paid monthly, it may be paid on the same day each calendar month or on a 30 day cycle, depending on whether the term you selected for your account is specified as a whole number of months or in days.

Cheers,
Anndy

Barbara
October 17, 2016

Hi. Just wondering about your Platinum Plus product. Your brochure says interest is calculated daily. Does this mean interest is compounded over the term or just paid out at maturity? Thanks

finder Customer Care

Clarizza
October 18, 2016

Hi Barbara,

Thanks for your question.

For the Platinum Plus, interest is paid 30 Jun and 31 Dec. Please note, we are a comparison website and provide general advice only. If you would like to discuss your situation in further detail, please contact CUA direct.

Regards,
Clarizza

rose
August 3, 2016

what is the interest rate on a term deposit for an over 55 year old 60.ooo for 2 years and how much will it ear?

finder Customer Care

Shirley
August 3, 2016

Hi Rose,

Thanks for your question.

If you would like your interest paid at maturity or annually, the interest rate is 3.05% p.a. Please note this doesn’t represent a quote.

The actual amount you earn will depend on your initial deposit. You may want to use our term deposit calculator to help you figure this out.

warren
June 27, 2016

short term interest rates for $800000.00 deposit

finder Customer Care

Clarizza
June 27, 2016

Hi Warren,

Thanks for your comment.

Interest on your deposit will depend on the term you choose. You can choose between terms that range from one month to three years. Please refer to our table above to see the relevant rates.

Hope this helps.

Clarizza

Be money smart and see Finder’s best credit card deals.

Find a better personal loan deal

Find a better home loan

Want monthly fees on your bank account?

Discover the top share trading platforms.

Discover top performing superannuation funds.

Planning to travel soon? Check out one of our travel money location guides

How much will it cost? Calculate your home loan repayments

Types

Term Deposit Guides & Tools

Banks

CUA Term Deposit Account