Illawarra Credit Union Term Deposit
- Interest rate 12 months interest rate
- Up to 4.25% p.a.
- Minimum opening deposit
The Illawarra Credit Union term deposit offers a fixed rate of return for a period of your choice, with no account fees to pay and interest paid at maturity. You can choose a term length that suits you between 1 and 12 months, and invest with as little as $1000.
Small opening balance requirement of $1000
Limited term lengths available
|Product Name||Illawarra Credit Union Term Deposit|
|3 month interest rate||3.00%|
|4 month interest rate||2.75%|
|6 month interest rate||3.50%|
|7 month interest rate||3.25%|
|9 month interest rate||3.25%|
|12 month interest rate||4.25%|
|Minimum Opening Deposit||$1,000|
|Minimum age requirement||18|
|Minimum Age Requirement||18|
|Joint account availability||No|
|Available to children||Not available for children|
Choice of term lengths
You have a choice of term lengths between 1 and 12 months when applying online. You can speak to the credit union directly if you'd like a longer term.
Your interest rate is fixed during the life of your term. As you can see in the table above, you'll get a higher rate for longer term lengths.
Deposits above $1000
You can open an Illawarra Credit Union term deposit with balances of $1,000 and above.
There are no setup fees or account keeping fees to pay with a Illawarra Credit Union term deposit.
Interest is paid at maturity for all terms between 1 and 12 months.
Covered by the Australian bank guarantee scheme
Your deposit up to $250,000 is protected by the Australian government's bank guarantee scheme.
How to apply
How to apply
You can apply for an Illawarra Credit Union term deposit online.
- Minimum age. You must be 18 or older to apply online.
- Residency requirements. Account holders must be an Australian citizen, permanent resident, or have a valid visa.
- Tax file number. You are not obligated by law to provide your tax file number (TFN) but if you don't, the bank is required to deduct tax at the highest marginal rate from your interest earnings.
- Identification. You can use your driver's licence, passport or Medicare card to provide proof of identity when applying online.
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