People's Choice Term Investment

People's Choice Term Investment

Min. Opening Deposit


Account Keeping Fee


With a $5,000 investment you can build your savings with the help of a fixed competitive interest rates and terms of your choice.

  • Interest can be paid annually, half yearly, quarterly, monthly or every 28 days (>1 year)
  • View via internet banking or smartphone app
  • Minimum age 13

Product details

With People’s Choice Credit Union you can make a Personal Term Investment on your own terms. Choose how long you want to lock you money down, how often you receive your interest payments and how much you are able to invest. Once started, you only need to watch as your saved dollars increase every month.

Product Name
People's Choice Term Investment
3 month interest rate
4 month interest rate
6 month interest rate
9 month interest rate
12 month interest rate
24 month interest rate
36 month interest rate
48 month interest rate
60 month interest rate
Min Deposit
Joint Application
Minimum Age Requirement
Covered by Government Guarantee
Yes (Up to $250,000 per person, per institution)

What are the features of the People’s Choice Credit Union Personal Term Investment?

Term investments or deposits are a convenient and low risk method of seeing a higher return on your savings investment. You will find this type of product offered by various Australian financial institutions, and can take the time to compare the features before making a choice on which personal term investment gives you the most benefit:

  • Minimum investment amount. In order to activate a Personal Term Investment with People’s Choice you will need to be able to invest at least $5,000.
  • Monthly account keeping fee. You will not be charged any account keeping fees with this high interest earning savings account.
  • Term length. Investment terms for this account range from two months to up to five years.
  • Interest payments. You can request to have interest payments made at maturity, annually, bi-annually, quarterly, monthly or every 28 days.
  • Interest rates. The interest rates given on the Personal Term Investment are competitive and tiered. The longer the terms, the higher the rate of interest that you earn. This fixed rate will also vary depending on how often you choose to receive your interest payments.
  • Early redemption. You are permitted to make a partial withdrawal of the money invested in your term deposit once during the terms or annually if the term of the investment is greater than one year. You must withdraw at least $1,000, and if your withdrawal puts the balance below $1,000 you will be required to close the account. Keep in mind that when you make an early withdrawal the interest rate you are earning will change depending on the amount of money you have left in the Personal Term Investment account.
  • Term investment maturity. Before your terms end you will receive a written notice from People’s Choice asking for instructions on how to proceed with the account. If they don’t hear from you before the end of the noted grace period the funds will automatically be deposited into a new account with the same terms and prevailing interest rate.


  • Interest can be paid annually, half yearly, quarterly, monthly or every 28 days (>1 year)
  • View via internet banking or smartphone app
  • Minimum age 13


  • Minimum of $5000 for investment is required.

How do I apply for a People’s Choice Credit Union Personal Term Investment?

If you are already a member of People’s Choice you can apply for this account using your internet banking platform. New members will need to click “Go to Site” in order to apply for membership at the same time that they apply for the account. Other eligibility requirements that you should familiarise yourself with before beginning include:

  • Minimum age. You must be at least 13 years of age in order to be a Personal Term Investment account holder.
  • Residency requirements. Australian residents may apply for this account, but temporary residents will need to provide their work visa along with their foreign passport.
  • Depository requirements. A minimum of $5,000 is required in order to activate the Personal Term Investment account.

If you are eligible for this account you can continue on to the secure application page. It will be helpful if you have the following documentation in order to ensure that all fields are completely filled in:

  • Tax file number. Your tax file number (TFN) or exemption code is used with interest earning accounts to assist the financial institution in deducting the right amount of withholding tax from any interest earnings.
  • Identification. In order to help verify your identity you will need information found on your driver’s licence, passport, or Medicare card.

After submitting your application online, the account details will be sent to you and the account activated once your initial deposit has cleared the account. You can then keep up with the progress of your savings growth through online banking.

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