Teachers Mutual Bank Edvest Term Deposit
- Interest rate 12 months interest rate
- Up to 5.05% p.a.
- Minimum opening deposit
- Account keeping fee
- Maximum deposit
With as little as $1,000 to get started, this term deposit account delivers a fixed rate of return and no accounting fees, so you can make a planned investment for the nominated period. Exclusive to Edvest members, this account is available for periods of three to 36 months, with free internet and phone account management the entire time. For deposits of $1,000 or more, you can enjoy competitive interest rates.
Enjoy peace of mind with a fixed rate and safe investment
Know what your investment is worth at any time
Receive additional benefits and discounts from Edvest membership
Invest as little as $1,000 or as much as $499,999
Requires Edvest membership
Early withdrawal fees apply
|Product Name||Teachers Mutual Bank Edvest Term Deposit|
|3 month interest rate||3.55%|
|4 month interest rate||3.55%|
|6 month interest rate||4.05%|
|7 month interest rate||4.05%|
|9 month interest rate||4.95%|
|12 month interest rate||5.05%|
|24 month interest rate||4.05%|
|36 month interest rate||4.05%|
|Minimum Opening Deposit||$1,000|
|Joint account availability||No|
|Available to children||No minimum age|
Get flexible terms
Choose your own investment period of 3 to 36 months, and know exactly how much interest you will earn during it.
Low minimum, high maximum balance
Deposit as little as $1,000 into the Edvest Term Deposit Account to get started, and deposit up to a maximum of $499,999 to grow your savings faster.
No account fees, no access fees
No charge for internet or phone balance enquiries, and no monthly account keeping fees.
Competitive, guaranteed interest rates
Competitive and guaranteed interest rates make make this account stand out.
Get regular updates
Once your term deposit is opened, you will be issued with a Term Deposit Certificate containing the details of your account. You can keep track of your deposit via online banking, phone banking or by requesting statements.
Low withdrawal penalty
If you choose to make an early withdrawal, a 2% early withdrawal penalty applies. Note that partial withdrawals require you to leave an amount equal or superior to the initial deposit.
Annual membership required
Edvest membership is required, and costs $18 per year. This entitles you to near-instant discounts on insurance, travel and other services, as well as better returns on your investments and low cost banking. Compare other Teachers Mutual Bank products.
How to apply
It takes only a few minutes to open an Edvest Term Deposit Account online.
Make sure you meet all eligibility requirements before starting.
- Age. You must be at least 50 years old to qualify for Edvest membership.
- Residency. Only Australian citizens and permanent residents can apply.
- Depository requirements. A minimum deposit of $1,000 is required to open a term deposit account.
- Contact Details. You will need a valid email and Australian residential address.
- Identification. You'll need to present a valid form of identification, like a passport or your national ID card.
- Personal details. The personal details of all account-holders will be required.
What happens after I submit my application?
Once your account has been opened you will receive a Term Deposit Certificate with the details of your investment. You can opt to receive regular statements or can check up on your account online or with telephone banking. In addition to this, you will receive written notice when your account is reaching maturity.
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August 01, 2019
is the interest paid fortnightly
Faye Manuel Finder
August 03, 2019
Thanks for contacting Finder.
Interest can be paid monthly, 12 monthly or at maturity on the Member, Edvest, Rewards Package and Customer Term Deposits and fortnightly on the Edvest Term Deposit.
I hope this helps.
April 15, 2018
Could you please furnish details of changes to take place re Deeming Accounts in July 2018.
Jeni Velasco Finder
April 16, 2018
Thank you for getting in touch with Finder.
If you are pertaining to deeming accounts from Teachers Mutual Bank, kindly contact them directly regarding this matter. You may also want to check our list of banks offering deeming accounts.
In addition, the government’s guide to deeming information and changes has more deeming info which could be helpful on your enquiry regarding changes that will take effect in July this year.
I hope this helps.
Have a great day!
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February 13, 2018
Do you have a super fund attached to Teachers Mutual?
Jonathan Choi Finder
March 06, 2018
Hi Jennifer, thanks for your inquiry.
Teachers Mutual Bank uses Bridges financial planner as their Superfund manager. You can contact them on 13 12 21.