In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Compare other term deposit accounts
  • Your reviews
  • Ask a question
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Heartland Bank Term Deposit

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Heartland Bank Term Deposit
Interest rate 12 months interest rate
Up to 5.35% p.a.
Minimum opening deposit
$25,000
Account keeping fee
$0
Maximum deposit
$1,000,000

Summary

Earn up to 5.35% on a 12 month term deposit with Heartland Bank.

The Heartland Bank Term Deposit offers fixed interest rates on term lengths between one month and five years. Customers can enjoy a rate of up to 5.35% on a 12 month term. Different rates apply for different term lengths, as shown in the table below.

Pros

  • Competitive, fixed interest rates
  • No set-up fees

Cons

  • Minimum deposit of $25,000 needed for new customers and $5,000 for existing customers

In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Compare other term deposit accounts
  • Your reviews
  • Ask a question

Details

Key details

Product Name Heartland Bank Term Deposit
3 month interest rate 5.00%
6 month interest rate 5.30%
9 month interest rate 5.25%
12 month interest rate 5.35%
24 month interest rate 4.80%
36 month interest rate 4.20%
48 month interest rate 4.10%
60 month interest rate 4.10%
Minimum Opening Deposit $25,000
Minimum age requirement 14
Government guarantee Yes

Eligibility

Minimum Age Requirement 14
Joint account availability Yes
Min Deposit $25,000
Available to children Not available for children under 14 years of age

Key features

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.


How to apply

You 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.

Eligibility

  • Minimum age. You need to be 14 years or older to apply for this account.
  • Residency. You need to be an Australian resident with an Australian residential address.

Compare other term deposit accounts

1 - 8 of 181
Name 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 12 Mths p.a. 24 Mths p.a.
Newcastle Permanent Term Deposit
Newcastle Permanent logo
$1,000 min. deposit
3 Mths p.a.
3.50%
4 Mths p.a.
3.50%
5 Mths p.a.
3.50%
6 Mths p.a.
5.05%
7 Mths p.a.
3.80%
12 Mths p.a.
4.80%
24 Mths p.a.
4.00%
Go to siteMore Info
Lock in a rate as high as 5.05% for 6 months with a minimum $1,000 deposit.
Judo Bank Term Deposit
Judo Bank logo
Finder Award$1,000 min. deposit
3 Mths p.a.
5.00%
4 Mths p.a.
-
5 Mths p.a.
-
6 Mths p.a.
5.25%
7 Mths p.a.
-
12 Mths p.a.
5.25%
24 Mths p.a.
5.00%
Go to siteMore Info
Newcastle Permanent Term Deposit
Newcastle Permanent logo
$1,000 min. deposit
3 Mths p.a.
3.50%
4 Mths p.a.
3.50%
5 Mths p.a.
3.50%
6 Mths p.a.
5.05%
7 Mths p.a.
3.80%
12 Mths p.a.
4.80%
24 Mths p.a.
4.00%
Go to siteMore Info
ING Term Deposit
ING logo
$10,000 min. deposit
3 Mths p.a.
4.90%
4 Mths p.a.
4.90%
5 Mths p.a.
-
6 Mths p.a.
5.10%
7 Mths p.a.
4.65%
12 Mths p.a.
5.10%
24 Mths p.a.
4.60%
Go to siteMore Info
BCU Term Deposit
BCU logo
$1,000 min. deposit$999,999 max. deposit
3 Mths p.a.
4.60%
4 Mths p.a.
5.00%
5 Mths p.a.
3.40%
6 Mths p.a.
4.70%
7 Mths p.a.
4.00%
12 Mths p.a.
4.50%
24 Mths p.a.
4.40%
Go to siteMore Info
Bankwest Term Deposit
Bankwest logo
$1,000 min. deposit$10,000,000 max. deposit
3 Mths p.a.
3.75%
4 Mths p.a.
3.00%
5 Mths p.a.
3.00%
6 Mths p.a.
4.25%
7 Mths p.a.
4.00%
12 Mths p.a.
5.00%
24 Mths p.a.
4.40%
Go to siteMore Info
Australian Unity Term Deposit
Australian Unity logo
$5,000 min. deposit
3 Mths p.a.
4.90%
4 Mths p.a.
1.15%
5 Mths p.a.
1.15%
6 Mths p.a.
5.10%
7 Mths p.a.
1.50%
12 Mths p.a.
4.80%
24 Mths p.a.
4.20%
Go to siteMore Info
Great Southern Bank Platinum Plus 55+
Great Southern Bank logo
$5,000 min. deposit$1,000,000 max. deposit
3 Mths p.a.
-
4 Mths p.a.
-
5 Mths p.a.
-
6 Mths p.a.
-
7 Mths p.a.
-
12 Mths p.a.
4.95%
24 Mths p.a.
4.50%
Go to siteMore Info
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Alison Finder

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Avatar

Tash Parker

July 15, 2024

I see that Heartland Bank is a New Zealand owned bank. Can Australians still use it for term deposits in our own currency or does it go by the NZ dollar?


Avatar

Sarah Megginson Finder

July 16, 2024

Hi Tash,


Yes, the rates advertised on this page are applicable for Australian currency. In Australia, Challenger Bank Limited is trading as Heartland Bank. It is part of the Heartland group of companies, which has more than 145 years of experience in financial services and is listed on the New Zealand and Australian stock exchanges (NZX/ASX: HGH).


Hope this helps!


Hope this helps@


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Rick

May 29, 2024

Do you pay interest monthly on a 12 month TD?


Avatar

Sarah Megginson Finder

July 17, 2024

Hi Rick,


Heartland calculate interest on the balance daily and pay it into the account on maturity, so if you take out a 12-month product, it will be paid at the 12-month mark.


If you wish to receive monthly interest, a high interest savings account might be a better fit for you right now. The interest rates are as high as term deposits, but the interest is paid monthly.


Hope this helps!


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tony

April 03, 2024

how long will the 5.25 rate remain open. i have 100 -200 k to invest from august


Avatar

Sarah Megginson Finder

May 17, 2024

Hi Tony,


There’s no way of knowing how interest rates will change over time, so it would be a good idea to review what the rates are when you get your funds and find the best rate at the time. It might be worth checking this page closer to the time to review some of the latest rates.


Best of luck!


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philip

March 26, 2024

We have a little over $300000 do we have to open two term deposits or have the term deposit in two names to be guaranteed by the govt.


Avatar

Sarah Megginson Finder

March 26, 2024

Hi Philip,


The gov. guarantee covers $250,000 per person, per organisation. So if your balance is $300,000 for one person, you would want to put $50,000 with a different institution. If its in the name of 2 people, you can have $250k each.


Hope this helps!


Avatar

peter goonewardene

August 25, 2023

the money we deposit is guaranteed by government?


Avatar

Alison Banney Finder

September 21, 2023

Hi Peter, yes this bank is included in the government guarantee scheme.


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