Teachers Mutual Bank Edvest Term Deposit
- Interest rate 12 months interest rate
- Up to 5.05% p.a.
- Minimum opening deposit
- $1,000
- Account keeping fee
- $0
- Maximum deposit
- $499,999
Summary
Teachers Mutual Bank’s Edvest Term Deposit offers teachers an opportunity to build wealth and financial security.
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.
Pros
-
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
Cons
-
Requires Edvest membership
-
Early withdrawal fees apply
Details
Key details
| 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 |
| Government guarantee | Yes |
Eligibility
| Joint account availability | No |
| Min Deposit | $1,000 |
| Available to children | No minimum age |
Your reviews
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Faye Manuel Finder
August 03, 2019
Hi Anthony,
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.
Kind Regards,
Faye
Shane
April 15, 2018
Could you please furnish details of changes to take place re Deeming Accounts in July 2018.
Thanks,
Shane
Jeni Velasco Finder
April 16, 2018
Hi Shane,
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!
Cheers,
Jeni
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Jennifer
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.
Best regards,
Jonathan
ANTHONY HARRISON
August 01, 2019
is the interest paid fortnightly