MyLife MyFinance Term Deposit
Earn up to 0.9% on a 12 month term deposit with MyLife MyFinance.
The MyLife MyFinance Term Deposit account offers fixed interest rates on term lengths between one month and two years. Customers can enjoy a rate of up to 0.9% on a 12 month term. Different rates apply for different term lengths, as shown in the table below.
Up to 1% p.a.
24 months interest rate
Minimum opening deposit
Account keeping fee
|Product Name||MyLife MyFinance Term Deposit|
|3 month interest rate||0.70%|
|6 month interest rate||0.70%|
|9 month interest rate||0.80%|
|12 month interest rate||0.90%|
|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.|
Competitive fixed interest rates
You'll benefit from a fixed interest rate when you lock your money into this term deposit, so you can have peace of mind knowing the interest rate won't change for the life of the term.
Terms from one month to two years
You can choose between term lengths of 31 days, 3 months, 6 months, 9 months, 12 months or 24 months.
No account fees
There are no set-up fees or monthly account-keeping fees.
Minimum deposit of $5,000
You need to deposit at least $5,000 to open a MyLife MyFinance Term Deposit. For deposits above $500,000, contact MyLife MyFinance for information on the current rate offered.
Interest calculated daily
Interest is calculated on the balance daily and paid into the account on maturity.
Joint accounts available
You can open this term deposit account as a joint account with another person.
Options at maturity
You can elect to have your interest payments reinvested into your term deposit account at maturity or paid into any Australian bank account.
How to applyYou can apply online in 10 minutes. Make sure you meet the account eligibility requirements and have the following information ready before you start the application.
- Minimum age. You need to be over 16 years old to apply for this account.
- Residency. You need to be an Australian resident with an Australian residential address.
- Identification. You'll need to verify your identity using your driver's licence, Medicare card, birth certificate or passport details.
- Tax file number. Providing your tax file number ensures that you'll be taxed at the correct marginal tax rate.