Delphi Bank Term Deposit

Lock your money away for 30 days to 5 years and enjoy a fixed rate of interest on your balance.

The Delphi Bank term deposit account offers a fixed rate of interest and stable, predictable returns. You can choose a term length that suits your strategy, ranging from as little as 30 days to 5 years.

Read on to learn more about this account and the interest rates available.

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Alison Banney

Last Updated Aug 25, 2020

Up to 0.3% p.a.

Interest rate

6 months interest rate

$1,000

Minimum opening deposit

$49,999

Maximum deposit

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Details

Product Name	Delphi Bank Term Deposit ($1,000 - $49,999)
3 month interest rate	0.10%
4 month interest rate	0.05%
6 month interest rate	0.30%
9 month interest rate	0.10%
12 month interest rate	0.30%
24 month interest rate	0.25%
36 month interest rate	0.30%
48 month interest rate	0.30%
60 month interest rate	0.30%
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

Minimum deposit is $1,000
Short and long terms available
Tiered interest rates
Covered by Government Guarantee

Cons

Must be a member of Delphi Bank to open an account
Interest rates not as high as some other savings accounts in the market

Alison Banney

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Alison Banney is the banking and investments editor at Finder. She has written about finance for over seven 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. Outside of Finder, you’ll likely find her somewhere near the ocean.

Key features

Terms from 30 days to 5 years

You can choose how long you want to lock your money away. You can choose a term ranging from as little as 30 days to 5 years. Restricting access to your funds is a good way to prevent impulse purchases.

Earn up to 0.3% p.a. interest on your balance

You can benefit from a fixed interest rate and predictable, stable returns. Interest rates are tiered and are generally higher for longer terms. Balances between $1,000 and $49,999 in a 180-day term deposit will earn an interest rate of 0.3% p.a.. This is the base balance bracket, and you can earn a higher rate of interest for depositing a larger amount of money.

No account-keeping fees

You won't have to pay set-up or account-keeping fees with this account.

Interest paid annually

For terms over one year in length, interest will be paid annually. For terms less than one year in length, interest will be paid at maturity.

Minimum deposit of $1,000

There is a minimum investment of $1,000 is required for this term deposit.

Membership required

Delphi Bank requires that you first become a member before you can apply for any of their accounts.

Deposits guaranteed by the government

The Australian government guarantees deposits up to $250,000.

Launch term deposit calculator

How to apply

Eligibility

You can apply for this account online or in branch. Check that you meet the eligibility criteria first and make sure to have the necessary documents handy.

Membership. You must be a member of Delphi Bank to open an account.
Age. Applicants must be 18 years of age or older to open this account.

Residence. You must have a valid Australian residential address.

Documentation needed

Personal details. You'll need to supply your name, address, email and phone number.
Personal identification. You'll need to prove your identity by supplying your Australian driver's licence, passport, birth certificate or Medicare card.
Tax file number (TFN). You don't have to provide this, but giving your TFN to the bank ensures that Delphi Bank does not deduct withholding tax from your interest payments.

What happens after I submit my application?

Once Delphi Bank has received your application and verified your identity, the bank will notify you when your term deposit account has been opened.

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Delphi Bank Term Deposit