MOVE Bank Term Deposit

Take advantage of a competitive interest rate and watch your savings grow with a MOVE Bank Term Deposit.

If you’re looking for a competitive interest rate and the security of a term deposit, a MOVE Bank Term Deposit is well worth a look. MOVE Bank term deposits are available with terms ranging from 3-24 months, and you can invest as little as $5,000 and then sit back and watch your money grow. The interest rate available varies depending on the length of the term, and customers with high term deposit portfolio balances in excess of $200,000 can negotiate their interest rate with the credit union.

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Shirley Liu

Last Updated Jan 4, 2021

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Details

Product Name	MOVE Bank Term Deposit
3 month interest rate	0.55%
4 month interest rate	0.55%
6 month interest rate	0.60%
7 month interest rate	0.60%
9 month interest rate	0.65%
12 month interest rate	0.80%
24 month interest rate	1.00%
Minimum Opening Deposit	$5,000

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.

Joint account availability	No
Min Deposit	$5,000
Available to children	No minimum age

Key features

Competitive interest rates

A MOVE Bank Term Deposit allows you to fix a competitive rate for a pre-arranged period of time. The fixed interest rate means you get the security of a guaranteed return on your investment.

Negotiate your rate

If you have a total term deposit portfolio valued at $200,000 or more, you can negotiate your interest rate with MOVE. If you've seen a better rate elsewhere, you can negotiate for a better deal on your term deposit account.

Minimum balance

If you want to open a MOVE Bank Term Deposit, you'll need to have at least $5,000 to deposit.

Choose your term

MOVE Bank Term Deposits are available with the following terms: 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13 to 14, 15 to 24 and 12 to 14 months. The interest rate you receive varies depending on the term you choose, so check with MOVE for up-to-date interest rate figures.

Interest payment options

Interest on a MOVE Bank Term Deposit is calculated daily and paid monthly or at maturity. For deposits with a term of more than 12 months, interest is paid at 12 months and then at maturity.

End of term

Once the investment term ends, you have two choices of what to do with your money: you can rollover into a new term deposit or you can withdraw your money to spend or invest elsewhere.

Early redemption fee

If you decide to redeem your term deposit balance before it reaches maturity, you'll be charged an interest deduction of 2%.

Launch term deposit calculator

How to apply

Eligibility

You'll simply need to provide your name, phone number, email address, the topic you want to discuss and your preferred callback time.

Alternatively, you can start your application for a MOVE Bank Term Deposit online immediately.

Documentation needed

The application process takes about five minutes and you will need to supply:

Your full name
Your MOVE member number (optional)

Your phone number
Your email address
Your preferred callback time
Your message or any questions you may have

What happens after I submit my application?

Once you've submitted the form, a MOVE representative will contact you as soon as possible to discuss your account needs and check whether you are eligible to open an account.

A MOVE Bank Term Deposit offers a long list of benefits to anyone looking for a secure and convenient way to invest their money. However, it's essential that you compare the interest rates and features of a MOVE Bank Term Deposit with those from other financial institutions before choosing a term deposit account.

Shirley Liu

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Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.

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MOVE Bank Term Deposit