Firstmac Term Deposit
- Interest rate 6 months interest rate
- Up to 5% p.a.
- Minimum opening deposit
- $5,000
- Account keeping fee
- $0
- Maximum deposit
- $5,000,000
Summary
Even with a financial goal in the very near future the Firstmac Term Deposit’s competitive rates could make sure you meet it.
Firstmac offers its members a flexible term deposit where even with its shorter terms you are still earning a high interest rate. The interest rate is fixed, and you are given options for receiving payments, making it easy to plan for a future expense. If you like the idea of getting long term rates for a short term investment, than add this term deposit to your list of those worth considering.
Pros
-
Government Guarantee
-
Competitive interest rate
-
Terms ranging from 30 days to 24 months
-
Interest paid at maturity
Cons
-
Large minimum investment amount
Details
Key details
| Product Name | Firstmac Term Deposit |
| 3 month interest rate | 4.80% |
| 6 month interest rate | 5.00% |
| 12 month interest rate | 4.95% |
| 24 month interest rate | 4.50% |
| Minimum Opening Deposit | $5,000 |
| Minimum age requirement | 18 |
| Government guarantee | Yes |
Eligibility
| Minimum Age Requirement | 18 |
| Joint account availability | Yes |
| Min Deposit | $5,000 |
| Available to children | Not available for children |
Your reviews
Alison Finder
Editor
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Alison Banney Finder
August 23, 2023
Hi, you need to supply 2 forms of ID including your passport and driver’s licence or Medicare card. If you can’t provide these, you may need to contact the bank directly to verify your identity using another form of ID.
Rob
June 27, 2023
I cannot find firstmac on the register of authorised deposit taking institutions
Alison Banney Finder
June 27, 2023
Hi Rob,
Firstmac deposits are issued by Goldfields Money Limited, which is a registered ADI under the Financial Claims Scheme.
Hope this helps,
Alison
Greg
June 07, 2023
Are deposits up to $250k protected by the government guarantee?
James Martin Finder
June 07, 2023
Hi Greg,
Yes, customer deposits of up to $250,000 with Firstmac are covered by the Australian Government Guarantee.
Best,
James
ivica stefanac
June 01, 2023
i tried to create an acount recently and had confirmation on the phone but when i went to my email it said my application was unsuccessful. what can i do
Sarah Megginson Finder
June 01, 2023
Hi Ivica,
We’re a review site and we’re not directly affiliated with Firstmac, so you’ll need to contact them directly for customer support.
You can reach them on: 13 12 20 (+61 7 3017 8888) or customercare@firstmac.com.au.
Helen Jennings
April 29, 2023
Do you allow SMSF deposits ?
Raj Lal Finder
May 01, 2023
Hi Helen,
Thanks for contacting Finder.
Firstmac do not offer term deposits for SMSFs. We do have a guide and list of providers that provide term deposits for SMSF. Here it is https://www.finder.com.au/smsf-term-deposit
Thanks
Raj
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patricia
August 15, 2023
What are the ID requirements as i have no passport or drivers licence