Product | Best rate (up to 1 year) | Minimum Deposit | Interest paid to another bank? |
---|---|---|---|
Term Deposit |
4.30% p.a.1 year ($1,000 to $2,000,000) |
$1,000.00 |
yes |
Term Deposit - Special Offer |
4.88% p.a.8 months ($1,000 to $5,000,000) |
$1,000.00 |
yes |
Mozo users have rated Bank of Melbourne term deposits on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
9 Reviews
Bank of Melbourne has 4.10% for 12 months which is good, as at Jan 2023. however they are paying my interest into a non interest account so every month I have to shift it , which is a pain. Also the account I have selected works on a variable return so it has to be watched constantly. I also see they are not adjusting investment returns along with the RBA advice and their own lending rates , thus the profit return is climbing. Good for share holders I suppose Furthermore I get varying advice from branch to branch which can be different again from on line My advice to anyone looking to term deposits , trust no one read everything and check and re check constantly , unfortunately yes ' they are all the same ' with fast talking staff who often do not fully brief you. Its what they don't say that counts
Read full reviewBank of Melbourne has 4.10% for 12 months which is good, as at Jan 2023. however they are paying my interest into a non interest account so every month I have to shift it , which is a pain. Also the account I have selected works on a variable return so it has to be watched constantly. I also see they are not adjusting investment returns along with the RBA advice and their own lending rates , thus the profit return is climbing. Good for share holders I suppose Furthermore I get varying advice from branch to branch which can be different again from on line My advice to anyone looking to term deposits , trust no one read everything and check and re check constantly , unfortunately yes ' they are all the same ' with fast talking staff who often do not fully brief you. Its what they don't say that counts
Personal service approach.
Read full reviewPersonal service approach.
I have a term deposit with this bank, I like this bank because I get good service regardless of which way I contact this bank, I do have one gripe and that is I feel the interest rates are a bit low.
Read full reviewI have a term deposit with this bank, I like this bank because I get good service regardless of which way I contact this bank, I do have one gripe and that is I feel the interest rates are a bit low.
Friendly helpful reassuring so glad I bank with Bank of Melbourne
Read full reviewFriendly helpful reassuring so glad I bank with Bank of Melbourne