Alert: Planned maintenance - Internet Banking: Sunday 14th August, 12:30am-2:30am AEST. We will be conducting important maintenance across our internet banking platform. During this time our internet banking platform will be offline. We apologise for any inconvenience. Card transactions and ATM withdrawals will be unaffected during the maintenance window. Call us on 132 888 for any questions, we're here 'til 8pm AEST or between 9am and 2pm AEDT tomorrow.

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2022-08-12 2:08 pm

Interest rate announcement - 12 August 2022. Bank Australia will increase variable home loan and commercial variable rates in response the RBA’s recent decision to raise the official cash rate. From 18 August 2022, interest rates will increase by 0.50% for variable rate owner-occupier and investor loans, while commercial variable rate loans will also increase by 0.50%. For existing home loan customers, repayment changes will be effective from 1 October 2022. Read more here.

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2022-06-21 5:06 pm
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Term Deposit

The no fee term deposit making a positive difference to more than just your bank balance.

Compare rates on popular term deposits

3 month

Fixed interest rate
Effective 23 June 2022

$500.00 – $1,000,000
Interest paid at maturity

12 month

Fixed interest rate
Effective 23 June 2022

$500.00 – $1,000,000
Interest paid at maturity

36 month

Fixed interest rate
Effective 23 June 2022

$500.00 – $1,000,000
Interest paid at maturity

It pays to know. Read the Product Disclosure Document before you deciding if this account is right for you.
See all rates and fees

Who it's for

  • People aged 13+
  • People living in Australia, either permanently or hold a relevant Australian visa

  • Minimum investment of $500 (unless otherwise advised)
  • Opening for personal use

Business term deposits

Is this product right for you? Find out more

More terms available

Want a different term? We’re happy to talk about tailoring term deposit timeframes. Please contact us to discuss your investment needs.

Calculate your returns

See how much you could earn with different terms, investment amounts and interest rates.

Join the clean money revolution

Get started in less than 5 minutes – all you need is your driver’s licence or passport, and your Medicare card.

Join now

Fees and charges

Here’s what to expect with our Term Deposit:

  • Monthly fee $0
  • Staff assisted transaction $0

It pays to know. Read the Product Disclosure Document and see all rates and fees before deciding if this account is right for you.

Above: Sarah, Bank Australia customer, gender equity and sustainability advocate

Is there a right way to save?

Explore the pros and cons of term deposits vs savings before choosing where to stash your cash. 

Read more

Things you need to know

  1. Rates apply to new term deposits received from 23 June 2022 however are subject to change at anytime.
  2. Not all payment methods are available on all terms. See our Interest Rate schedule for more information.
  3. Your total deposits in Bank Australia are protected up to a limit of $250,000. This protection is provided by the Commonwealth Government's Financial Claims Scheme. Deposits are subject to a limit. For more information on the Financial Claims Scheme, please visit the FCS website.

General advice warning

Information provided is of a general nature only. In providing you with this information you should consider the appropriateness of this advice with regards to your particular financial situation and needs. You should consult the Product Disclosure Documents before making a decision to apply for products with Bank Australia.
Terms, conditions, fees and charges may be applicable.

Term Deposits require a minimum opening deposit of $500

The interest rates shown are for an amount of $500 to $1,000,000. To obtain an interest rate for an amount of $1,000,000 or more, please call 132 888 between 8am 8pm (AEST) Monday to Friday, 9:00am to 2:00pm Saturday or visit your nearest Bank Australia branch.

The interest rates that apply to Term Deposits are the interest rates that are current on the date the investment is credited to your term deposit account, not the day the account is opened.
Interest is calculated daily on whole balances and paid at maturity or at the frequency selected.
Any request for early release of funds from the term deposit will be subject to 31 days' notice.
If regular access to funds is required, another account may be more suitable.