Product details
A St.George term deposit doesn't charge setup or monthly fees. It has flexible interest payment options and it's suitable for DIY or SMSF accounts. You also have a range of investment options, from 1 month to 5 years. You can choose how often your deposit earns interest – monthly, half yearly, annually, or at maturity. You get various options when your term deposit matures. You can access and manage these funds via mobile and online banking.
You can get started with a small investment amount of $1,000
- Product Name
- St.George Term Deposit
- 1 month interest rate
- 1.50%
- 3 month interest rate
- 2.10%
- 4 month interest rate
- 1.85%
- 6 month interest rate
- 2.20%
- 9 month interest rate
- 1.90%
- 12 month interest rate
- 2.55%
- 24 month interest rate
- 2.60%
- 36 month interest rate
- 2.60%
- 48 month interest rate
- 2.70%
- 60 month interest rate
- 2.95%
- Min Deposit
- $1,000
- Max Deposit
- $5,000,000
- Joint Application
- Yes
- Minimum Age Requirement
- 18
- Covered by Government Guarantee
- Yes (Up to $250,000 per person, per institution)
What are the features of the St.George Term Deposit?
Features that St.George term deposits come with require your attention in case you’re thinking about applying and here’s what you can expect.
Small investment amount of $1,000 to get started
Invest as little as $1,000 to get a St.George term deposit. The maximum you can invest in this term deposit is a substantial sum that stands at $5,000,000.
Choose your term as per your liking
Invest your funds from as little as 1 month, to a long term investment of 5 years.
A range of re-investment options
St.George gets in touch with you upon the maturity of your term deposit and you get 7 grace days to decide what to do next. If you don’t take any action, the term deposit renews automatically for the same term, at the then prevalent rate.
You can change the amount, term, and interest payable option, and then renew your term deposit. Alternatively, you can choose to close your term deposit and withdraw all funds.
Withdrawing funds before maturity
While you can access funds in your term deposit before maturity, St.George requires at least 31 days advance notice, except in cases of hardship. Fees may also apply.
Interest payment options
Depending on the term of your deposit, you can choose to earn interest at maturity, monthly, bi-annually or annually. You can reinvest this interest in a new term deposit, or St.George can transfer it to a bank account or pay it to you via cash or cheque.
$0 Account keeping or setup fees
You don’t have to pay any setup or account keeping fees to open and maintain a St.George term deposit.
Check your funds anytime
You can access and manage your funds 24/7 online via St.George online and mobile banking
How do I renew St.George my term deposit?
You can start by logging onto St.George Internet banking and then select 'Renew Now' from the 'My Accounts' page. You can then choose the renewal option and confirm your details.
Easy application process
You can apply for a St.George term deposit online, in a matter of minutes, and you can also apply over the phone. This is a considerable step-up when compared to banks that still require you to apply for their term deposits in person. You can compare other St.George bank accounts on this page.
Pros
- $0 Account keeping fees
- Suitable for DIY and SMSF
- Flexible terms from 1 month to 5 years
- Low minimum investment amount of $1,000
Cons
- 31 days advance notice required in case of withdrawing funds before maturity
How do you apply for the St.George Term Deposit?
Applying for a St.George term deposit is not difficult, and you can apply online, over the phone, or by visiting any St.George branch.
Eligibility to apply online
If you wish to apply online, click on the ‘Go to Site’ button, but make sure you meet the required eligibility criteria as listed below.
- You’re over 18 years of age
- You’re a permanent Australian resident
- You’re investing at least $1,000
Documents for your online application
In order to successfully complete the application you have to provide certain details, which include the following.
- Details of an Australian bank account where you want the interest to go (unless you want it added to the principal)
- New St.George customers have to provide personal details like complete name, date of birth, phone number, residential address, and email address
- Tax file number (if you don’t wish to pay withholding tax)
What happens after I submit my application?
New customers have to complete an ID check. Once you submit all required information, St.George verifies the details you provide, after which it sends you a confirmation email. After the funds in question reach St.George, your term deposit comes into effect, and you can expect to receive all relevant documentation via mail soon after.
Is this term deposit suitable for investment of Self managed superannuation?
No, St.George Term Deposits can be used for personal savings only.
If I put $10,000 in a term deposit for twelve months, and down the track to take some money earlier what is the penalty fees please
Please see this page about term deposit cancellation fees. You’ll be able to find St.George’s fees on the list.
I am interested to invest $10,000 for 5 years under fixed deposit. May i know how much amount i will get after 5 years.
You can calculate your earnings from our term deposit comparison table.
I want to invest 10,000 for 2 months – what’s the best rate for this
You may want to consider comparing term deposit interest rates.
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