Gateway Bank term deposit

Earn a fixed interest rate on a wide choice of terms with a Gateway Bank personal term deposit.

The Gateway Bank term deposit offers a large choice of term lengths between three months and five years. You'll earn a fixed interest rate on your deposit, which means you can have peace of mind knowing exactly what your investment will be worth when the term reaches maturity. There are no set up or ongoing account fees to pay.

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Alison Banney

Last Updated Jan 4, 2021

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Details

Product Name	Gateway Bank Ltd Term Deposit
3 month interest rate	1.80%
4 month interest rate	0.70%
6 month interest rate	2.60%
7 month interest rate	1.20%
9 month interest rate	2.70%
12 month interest rate	3.15%
24 month interest rate	1.60%
36 month interest rate	1.60%
48 month interest rate	0.65%
60 month interest rate	0.65%
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

Key features

No account fees

There are no set-up fees when opening this term deposit, and there are no monthly account fees either.

Wide range of term lengths available

There's a wide range of term lengths available, so you can choose one that's right for you from as little as three months to five years.

Deposits starting from $1,000

You can open a Gateway Bank term deposit with as little as $1,000.

Earn 1.2% on a 7-month term deposit

You'll earn a competitive, fixed interest rate of 1.2% on a 7-month term. Interest rates for different term lengths are shown in the table above.

Deposits up to $250,000 are guaranteed by the Australian government

Your deposit up to $250,000 with Gateway Bank is covered by Australian government under the Financial Claims Scheme.

How to apply

Eligibility

You can apply for a Gateway Bank term deposit online.

Eligibility

Age. You must be over 18 years old to open this account.
Residency. You're an Australian resident with an Australian residential address.

Documentation needed

Identification. You'll need to provide your driver's license, Medicare or passport details so Gateway Bank can verify your identity.
Bank account details. The details of your Australian bank account where you want your interest to be paid.
Tax file number. This is to make sure you're taxed at the appropriate rate.

Alison Banney

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Alison Banney is the banking and superannuation editor at Finder. She has written about finance for over 8 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 Greater Bank, bcu 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.

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Gateway Bank term deposit