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Branch closure - Sydney, New South Wales and Melbourne CBD, Victoria. Following the Government’s announcement of stay-at-home restrictions, we've decided to temporarily close our Sydney CBD branch and Melbourne CBD branch. We’ve made this decision to limit the potential risks to our customers and staff and to support the efforts to limit the spread of COVID-19 in the areas under stay-at-home restrictions. While the branches are closed, we’ll be able to help you over the phone on 132 888 Monday to Friday 8am-8pm and Saturday 9am – 2pm AEST. View details


Fixed term deposits offer a guaranteed rate of return on your money for the life of an investment. Choose the term or interest rate that best suits you.

Fixed rate up to
3 months

effective 25 February 2021

More rates and fees
Fixed term deposits
Interest paid at maturity
Term (Month)$500 - $1,000,000
3 0.25%
4 0.25%
5 0.25%
6 0.35%
7 0.35%
9 0.35%
12 0.50%
13-18 0.50%
19-24 0.50%
36 0.60%
Interest rate expressed as annual percentage rates.
Interest paid monthly
Term (Month)$500 - $1,000,000
6 0.25%
12 0.40%
13-18 0.40%
19-24 0.40%
36 0.50%
Interest rate expressed as annual percentage rates.

A term deposit that can create positive impact

A truly responsible bank can make society better. We use the money our customers deposit to make loans to people, community organisations and businesses that create positive change. By choosing to bank with us, you will have peace of mind knowing your money won’t be supporting the growth of harmful industries.

You can help make a positive impact

By moving your banking to Bank Australia, you are ensuring your money isn’t supporting the fossil fuel industry or industries that harm people and the planet. 

Flexible timeframes and payments

Choose from our range of timeframes to suit your needs. Receive interest payments monthly or at maturity for selected terms.

What does your bank invest in?

 If the answer includes fossil fuels, weapons, tobacco or gambling, it's likely that the money you invest with your bank is supporting these industries.

Why choose 
our Term

Term deposit support

Our range of resources can help you decide if a term deposit is right for you.

What will your term deposit return be?

Calculate your return using different amounts, terms and interest rates using our term deposit calculator.

Find out more

Term deposit vs. saving account

Which is right for you? We’ve put together some pros and cons of each to help you weigh up your options.

Find out more

Everything you need to know about this account

Who can apply?

To open a term deposit you will need to:

  • Be 13 years or older.
  • Be an Australian resident for taxation purposes.
  • Be opening it for personal use.

If you are under 13 years old, a parent or guardian will need to open an account on your behalf by calling us on 132 888 or visiting us in branch.


Businesses are also eligible to open a Term Deposit provided the account is:

  • Opened and operated by a business for business purposes only;
  • Held by a business registered in Australia, with an Australian registered address and you have provided us with all of the information we require to determine your Foreign Tax Residency Status and that of any controlling person of the business.

Existing business customers can open a term deposit account via secure mail, over the phone and in branch. New business customers can open an account over the phone or in branch. See what documents you need here.

Is this product right for you?

This product is covered by a Target Market Determination (TMD)A Target Market Determination (TMD) is a document which describes who a product is intended to be appropriate for based on a consumer’s needs, financial situation and objectives (target market). 

Find out more

A truly responsible bank can make society better

We use the money our customers deposit to make loans to people, community organisations and businesses that create positive change. When you bank with Bank Australia, you can be confident your money is working towards a positive and more sustainable future. 

That’s why we’re the bank with clean money.

Important information

1. Not all payment methods are available on all terms. See our Interest Rate schedule for more information.

2. 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 that apply to Term Deposits are the interest rates that are current on the date the investment is credited to yoru 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.