Firstmac Term Deposit

Firstmac Term Deposit

Min. Opening Deposit


Account Keeping Fee


Even with a financial goal in the very near future the Firstmac Term Deposit’s competitive rates could make sure you meet it.

  • Competitive interest rate
  • Terms ranging from 30 days to 24 months
  • Interest paid monthly or at maturity

Product details

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.

Product Name
Firstmac Term Deposit
1 month interest rate
3 month interest rate
6 month interest rate
12 month interest rate
24 month interest rate
Min Deposit
Minimum Age Requirement

What are the features of the Firstmac Term Deposit?

Term deposit accounts are savings products that typically offer a higher rate of interest for locking your money into an investment for a fixed period of time and at a fixed interest rate. Banks will have various features to meet different saving goals, making it important that you compare these until you find the one that matches yours:

  • Minimum investment amount. With Firstmac you can open a term deposit with $5,000 or more.
  • Special provision for minors. A term deposit may be initiated for a minor under the age of 18 with a minimum deposit amount of $500.
  • Term length. You can choose 30, 60 or 90 day terms as well as six, nine, 12 or 24 months.
  • Interest rates. The fixed rates are competitive, growing in value when you choose longer terms.
  • Interest payments. With the 30, 60 and 90 day terms, interest is paid into the account at maturity. With the other available term lengths you can choose to be paid monthly or at maturity. Monthly payments will result in a slightly reduced interest rate.
  • Early withdrawal. It will be at the discretion of Firstmac whether you may terminate your term deposit before the agreed upon maturity date. If they do agree the interest rate will be reduced to 1.5% and will be applied to the daily balance for the length of time you held the account. If you terminate your account before it concludes the first month no interest will be paid to you.
  • Maturity options. When the account does reach maturity you can choose to reinvest the principal and interest earned, reinvest the principal only and have the interest transferred to a linked bank account or close the term deposit completely. You are permitted to choose different terms before making a reinvestment.
  • Term deposit maturity. Firstmac will not notify you when your deposit is approaching maturity. If no instruction has been given by you when the account does mature, your deposit and earned interest will automatically be invested into a new term deposit of the same length but at the prevailing interest rate. You will have seven days following the maturity date to make any adjustments to the new account without it being considered an early withdrawal.


  • Government Guarantee
  • Competitive interest rate
  • Terms ranging from 30 days to 24 months
  • Interest paid monthly or at maturity


  • Large minimum investment amount

How do I apply for a Firstmac Term Deposit?

With Firstmac you can apply for its Term Deposit online in just a few minutes. Before you begin your online application you should check to ensure that you are able to meet the eligibility requirements:

  • Minimum age. Account holders are required to be at least 18 years of age, although there are special concessions made for younger Australians who wish to open a term deposit with Firstmac.
  • Residency requirements. You must be an Australian resident with a residential address in order to be considered for a term deposit account.
  • Depository requirements. There is a minimum deposit of $5,000 required in order for your account to be activated. You will have three days from the day that Firstmac approves your application to make that deposit. If not, the interest rate may differ from what you originally agreed upon.

Having the following documentation close by will also be helpful when filling in your online application:

  • Tax file number. In order to avoid have tax withheld on your interest earnings at the highest marginal rate, it is recommended that you provide your tax file number (TFN) or exemption code.
  • Identification. An Australian passport, driver’s licence or Medicare card contains information that can be used to confirm your identity.

After your application has been submitted and approved, and your initial deposit made, Firstmac will issue you a Certificate of Investment. This form details your account, including your ID number, account number and the chosen terms and maturity date.

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14 Responses

  1. Default Gravatar
    rosyJuly 1, 2019

    Who is Firstmac?

    • Avatarfinder Customer Care
      JhezJuly 1, 2019Staff

      Hi Rosy,

      Thank you for your comment.

      Firstmac is a privately-owned company that has been in business for nearly 40 years. The products that they provide are straightforward home loans and car loans for everyday Australians who are looking for an alternative to the major banks.

      For more details about Firstmac, kindly visit their website.


  2. Default Gravatar
    AndyMay 28, 2019

    Hi there,
    If I had $1.2M of spare business cash, were should I look to park it in order to gain a maximum return? The cash may be required for a purchase such as property so may need access within 6 months.

    • Avatarfinder Customer Care
      JeniMay 30, 2019Staff

      Hi Andy,

      Thank you for getting in touch with Finder.

      Since there’s no maximum amount listed on this Firstmac term deposit review page, you may invest your money with them for 6 months and you’ll earn 2.45% p.a. which will be paid to your account monthly. If you’re looking around, you may check out this page to compare your term deposit for 6 months options. Please make sure that you’ve read the relevant T&Cs or PDS of the term deposit account to help consider whether the product is right for you.

      I hope this helps.

      Thank you and have a wonderful day!


  3. Default Gravatar
    KerryMay 27, 2019

    Where is Firstmac based

    • Avatarfinder Customer Care
      BellaMay 27, 2019Staff

      Hi Kerry,

      Thanks for your inquiry.

      Firstmac is based in Riverside Centre in Brisbane, Queensland.

      I hope this helps.

      Kind regards,

  4. Default Gravatar
    DenzilMay 24, 2019

    hi Shirley,
    I am interested in Investing $5000 in Firstmac 6 month term deposit and tried to use the calculator at the top right hand of the page, but I did’nt find any calculator to suit what I was interested in . Please let me know what I am doing wrong?

    • Avatarfinder Customer Care
      NikkiMay 25, 2019Staff

      Hi Denzil,

      Thanks for getting in touch with Finder!

      Here is our page for the term deposit calculator. Due to the structure of a term deposit account the calculated amount showing should be fairly accurate, although there may be other factors not taken into consideration that could affect the amount of interest paid to you.

      There are other variables to consider with a typical high-interest savings account that are not needed with the term deposit calculator. If you are interested in comparing the interest earning benefits of both types of accounts, you can also access a savings account calculator through our site.

      Let me know if you have other questions, I’d be happy to help.


  5. Default Gravatar
    colinMay 18, 2019

    Are investment funds in Firstmac guaranteed by the Australian government up to $250k?

    • Avatarfinder Customer Care
      MaiMay 19, 2019Staff

      Hi Colin,

      Thank you for reaching out.

      Yes, it is covered. As per Firstmac;s term deposit terms and conditions, the Firstmac deposit products are covered by the Australian Government Guarantee. The Australian Government automatically guarantees deposits which are placed with an Authorised Deposit-taking Institution (ADI), up to the balance of $250,000. Firstmac deposits are issued by Goldfields Money Limited, a registered ADI under the Financial Claims Scheme. The sum of all balances held by you in Firstmac and Goldfields Money deposit accounts are covered by the Australian Government guarantee, up to the balance of $250,000.

      Hope this helps! 😊

      Kind Regards,

  6. Default Gravatar
    ChristianMay 10, 2019

    I am an Australian citizen living abroad. I do not have a place of residence in Australia but I do have an account with an Australian Bank. I am interested in your term deposit. My question is am I eligible to apply?

    • Avatarfinder Customer Care
      MaiMay 11, 2019Staff

      Hi Christian,

      Thank you for reaching out.

      Firstmac requires that you must be an Australian resident with an Australian residential and mailing address to be eligible to apply for their term deposit. You can reach out to Firstmac to check if that can be overridden provided that you have an active Australian bank account.

      Hope this helps! 😊

      Kind Regards,

  7. Default Gravatar
    jayMay 19, 2017

    Hi i have some money i need to invest compo payout from injury, partner no income(cancer) and i have child at school yr 11
    I bought a house fully paid for i have 550k to invest term deposit or stock market it will still leave me fund in account to live for 2-3yrs if iam careful , not sure what to do.All money has to last 16years before i can get assistance(preconclusion period) so if i could get 550k to work safely for a few years i should be able to make it(i have a disability) any cheers needing help

    • Default Gravatar
      JonathanMay 19, 2017

      Hi Jay,

      Welcome to – a financial comparison website and general information service designed to help consumers make better decisions. Please note that we are not affiliated with any company we feature on our site.

      On page – , we’ve listed some of the Term Deposit accounts and you can also find our calculator on top of the table where you can enter your intented investment and period/term and compare the accounts in terms of interest earnings. Once you’ve chosen a term deposit account, you can click on the green “Go to Site” button to open an account and to get more details on the product.

      Hope this helps.


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