If you’re looking to build your nest egg, then the Term Deposit from Bank of us could be worth a look, as it comes with decent interest rates across a range of terms from as little as one month up to three years. Once your deposit hits maturity, your funds will automatically roll over or you can opt to exit with your newly earned interest.
The Bank of us Term Deposit comes with terms ranging from one month up to three years on balances from $5,000 up to $200,000. Any balance over this amount will be subject to to daily quotation.
Different rates also apply based on when you get your interest paid. For instance, interest paid at maturity on a term between 12-17 months 4.80% p.a. while interest paid 6 monthly at 12-17 months is 4.75% p.a.
Interest paid at Maturity:
Interest paid 6 monthly:
Interest paid Annually:
What’s more, the Bank of us Term Deposit offers customers the option to have their interest paid to another bank of their choice, either as direct credit or cheques. Just bear in mind that this term deposit also has an automatic rollover feature, which means you’ll have to opt out at maturity if you want to access your funds and interest without penalty.
The Bank of us Term Deposit suits committed savers looking to grow balances for 12-17 months, as you’ll earn the most interest within this range when getting your interest paid at maturity.
Before letting your term deposit automatically roll over, be sure to check whether the rate being offered is still competitive by term deposit offers.
2.00% p.a. ($5,000 to $24,999) 2.00% p.a. ($25,000 to $99,999) 2.00% p.a. ($100,000 to $200,000) |
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2.00% p.a. ($5,000 to $24,999) 2.00% p.a. ($25,000 to $99,999) 2.00% p.a. ($100,000 to $200,000) |
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4.00% p.a. ($5,000 to $24,999) 4.00% p.a. ($25,000 to $99,999) 4.00% p.a. ($100,000 to $200,000) |
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4.20% p.a. ($5,000 to $24,999) 4.20% p.a. ($25,000 to $99,999) 4.20% p.a. ($100,000 to $200,000) |
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4.40% p.a. ($5,000 to $24,999) 4.40% p.a. ($25,000 to $99,999) 4.40% p.a. ($100,000 to $200,000) |
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5.00% p.a. ($5,000 to $24,999) 5.00% p.a. ($25,000 to $99,999) 5.00% p.a. ($100,000 to $200,000) |
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4.50% p.a. ($5,000 to $24,999) 4.50% p.a. ($25,000 to $99,999) 4.50% p.a. ($100,000 to $200,000) |
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4.50% p.a. ($5,000 to $24,999) 4.50% p.a. ($25,000 to $99,999) 4.50% p.a. ($100,000 to $200,000) |
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4.60% p.a. ($5,000 to $24,999) 4.60% p.a. ($25,000 to $99,999) 4.60% p.a. ($100,000 to $200,000) |
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4.60% p.a. ($5,000 to $24,999) 4.60% p.a. ($25,000 to $99,999) 4.60% p.a. ($100,000 to $200,000) |
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4.60% p.a. ($5,000 to $24,999) 4.60% p.a. ($25,000 to $99,999) 4.60% p.a. ($100,000 to $200,000) |
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4.80% p.a. ($5,000 to $24,999) 4.80% p.a. ($25,000 to $99,999) 4.80% p.a. ($100,000 to $200,000) |
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4.80% p.a. ($5,000 to $24,999) 4.80% p.a. ($25,000 to $99,999) 4.80% p.a. ($100,000 to $200,000) |
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4.30% p.a. ($5,000 to $24,999) 4.30% p.a. ($25,000 to $99,999) 4.30% p.a. ($100,000 to $200,000) |
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4.25% p.a. ($5,000 to $24,999) 4.25% p.a. ($25,000 to $99,999) 4.25% p.a. ($100,000 to $200,000) |
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4.05% p.a. ($5,000 to $24,999) 4.05% p.a. ($25,000 to $99,999) 4.05% p.a. ($100,000 to $200,000) |
$5,000.00 |
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$200,000.00 |
yes |
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yes |
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Only available to existing residents of Tasmania |
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none |
Different interest rates apply to different amounts or different interest payment frequencies.