Bank Australia term deposit reviews

Bank Australia
Bank Australia's overall rating for term deposits

(as rated by the Mozo community)

6.3 / 10

based on 3 reviews

Price

Features

Customer service

Convenience

Trust

Full review

Featured term deposit from Bank Australia

Recent Bank Australia term deposit reviews

Bank Australia

Bank Australia term deposit review

Overall rating   9 / 10

Awesome Service

Fantastic bank, love the fact that its owned by the customers, staff are awesome, just needs more branches. Relatively new bank so that will come with time, hopefully.

Full review

Fantastic bank, love the fact that its owned by the customers, staff are awesome, just needs more branches. Relatively new bank so that will come with time, hopefully.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   7 / 10

    Trust   9 / 10

Less

Malcolm (QLD), reviewed 12 months ago

Bank Australia

Bank Australia term deposit review

Overall rating   3 / 10

Pretty good face to face service, sometimes lacks

They are not fair. To gain maximum interest rate, you MUST transfer money from the account via the internet. Therefore people without access to the internet cannot operate the account and get the same amount of interest as those with electronic...

Full review

They are not fair. To gain maximum interest rate, you MUST transfer money from the account via the internet. Therefore people without access to the internet cannot operate the account and get the same amount of interest as those with electronic devices. Where is the fairness in that? Not everyone can afford electronic devices!!

    Price   5 / 10

    Features   3 / 10

    Customer service   3 / 10

    Convenience   7 / 10

    Trust   3 / 10

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Ronda (VIC), reviewed over 1 year ago

Bank Australia

Bank Australia Term Deposit term deposit review

Overall rating   9 / 10

Great customer service, extremely competitive rate

I've compared other interest rates from other providers and they are NEVER as competitive.

Full review

I've compared other interest rates from other providers and they are NEVER as competitive.

    Price   10 / 10

    Features   7 / 10

    Customer service   10 / 10

    Convenience   9 / 10

    Trust   10 / 10

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Mozo reviewer (ACT), reviewed over 3 years ago

Bank Australia

Bank Australia Term Deposit term deposit review

Overall rating   10 / 10

Great customer experience from BankMECU

Bank MECU is the best banking institution I have ever banked with as they are interested in the customer first. And that is not just a line or slogan.

Full review

Bank MECU is the best banking institution I have ever banked with as they are interested in the customer first. And that is not just a line or slogan.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

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Mozo reviewer (NSW), reviewed over 3 years ago

Bank Australia

Bank Australia term deposit review

Overall rating   9 / 10

This term deposit offers great interest rates, highly recommended compared to the major banks. The staff are always friendly, no long queues, can't do enough for you, personalized service, provide reply paid envelopes to send cheques in easily,...

Full review

This term deposit offers great interest rates, highly recommended compared to the major banks. The staff are always friendly, no long queues, can't do enough for you, personalized service, provide reply paid envelopes to send cheques in easily, fantastic bank.

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   9 / 10

    Trust   9 / 10

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Sabine (ACT), reviewed almost 5 years ago

Bank Australia

Bank Australia term deposit review

Overall rating   5 / 10

Been with them for many years, early days as a credit union. Lack of convenience in the few places where they have branches, though can use redi-ATMs. Internet banking as good as anyone else, phone banking similar to others. Interesting to see...

Full review

Been with them for many years, early days as a credit union. Lack of convenience in the few places where they have branches, though can use redi-ATMs. Internet banking as good as anyone else, phone banking similar to others. Interesting to see how they go as a members owned bank.

    Price   6 / 10

    Features   3 / 10

    Customer service   -1 / 10

    Convenience   3 / 10

    Trust   5 / 10

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Edmund (VIC), reviewed almost 5 years ago

Bank Australia

Bank Australia term deposit review

Overall rating   8 / 10

This product has very good rates, with options for short term to long term deposits - at the end of your term, you can choose how long you wish to re-deposit for, depending on the best rates available - the only thing I do not like about this...

Full review

This product has very good rates, with options for short term to long term deposits - at the end of your term, you can choose how long you wish to re-deposit for, depending on the best rates available - the only thing I do not like about this product, is you do not know how much interest you have earned when the renewal comes in.... it does not show at all - its only when you re-invest that it shows up in the principal.

    Price   8 / 10

    Features   6 / 10

    Customer service   8 / 10

    Convenience   6 / 10

    Trust   8 / 10

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Jan (VIC), reviewed over 5 years ago

Bank Australia

Bank Australia term deposit review

Overall rating   9 / 10

Have been with MECU since its inception many many years ago. We have never had a complaint. Even when travelling o/s and lost a credit card, the speed and efficiency with which that was handled was amazing and even today, when we tell the story...

Full review

Have been with MECU since its inception many many years ago. We have never had a complaint. Even when travelling o/s and lost a credit card, the speed and efficiency with which that was handled was amazing and even today, when we tell the story people can't believe a bank operates in such a way. Sitting and talking to them in their office and being able to see our files when they open them, talk to them on the phone and they return calls on the same day. We would not move to another bank. We even check with other banks before reinvesting and if they have higher rates, MECU meets them as we know they will.

    Price   10 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Diana (VIC), reviewed over 5 years ago

Bank Australia

Bank Australia term deposit review

Overall rating   10 / 10

mecu is quite consistent with their term deposit, they are quite reliable. The notices are sent prior to maturity and follow on call is made by the staff to discuss various term deposit options before renewal. Over age 45, they have edvest which...

Full review

mecu is quite consistent with their term deposit, they are quite reliable. The notices are sent prior to maturity and follow on call is made by the staff to discuss various term deposit options before renewal. Over age 45, they have edvest which offers better interest rate. I am very pleased with the product.

    Price   9 / 10

    Features   9 / 10

    Customer service   10 / 10

    Convenience   8 / 10

    Trust   9 / 10

Less

Madhavi (QLD), reviewed almost 6 years ago

Bank Australia

Bank Australia term deposit review

Overall rating   10 / 10

I am a small investor, so the three months fixed term account works well for me. The interest rate is not as high as some of the competitors, that said, I'm happy with the way the account works for me.

Full review

I am a small investor, so the three months fixed term account works well for me. The interest rate is not as high as some of the competitors, that said, I'm happy with the way the account works for me.

    Price   8 / 10

    Features   8 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Margaret (VIC), reviewed about 6 years ago

Bank Australia

Bank Australia term deposit review

Overall rating   10 / 10

I like the convenience, friendly service, lack of exorbitant fees or unnecessary reward systems.

Full review

I like the convenience, friendly service, lack of exorbitant fees or unnecessary reward systems.

    Price   10 / 10

    Features   10 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Robert (NSW), reviewed over 6 years ago

Bank Australia

Bank Australia term deposit review

Overall rating   7 / 10

Flexible - can pay interest periodically or at term. Hate call centres - prefer to be able to speak direct to my branch without the hassle of having to explain my query more than once.

Full review

Flexible - can pay interest periodically or at term. Hate call centres - prefer to be able to speak direct to my branch without the hassle of having to explain my query more than once.

    Price   7 / 10

    Features   8 / 10

    Customer service   4 / 10

    Convenience   5 / 10

    Trust   8 / 10

Less

Nancy (VIC), reviewed over 6 years ago

Bank Australia

Bank Australia term deposit review

Overall rating   10 / 10

Love the rapid phone or email response from mecu. Very personalized. Great help with varied queries from transferring money overseas to helping me with my absent (overseas) accounts. Easy to place cash in term deposits and very timely alerts to...

Full review

Love the rapid phone or email response from mecu. Very personalized. Great help with varied queries from transferring money overseas to helping me with my absent (overseas) accounts. Easy to place cash in term deposits and very timely alerts to various needs. Above all, excellent personal customer service - you feel that you are a person and not a faceless entity.

    Price   10 / 10

    Features   2 / 10

    Customer service   10 / 10

    Convenience   10 / 10

    Trust   10 / 10

Less

Heather (VIC), reviewed about 7 years ago

Bank Australia

Bank Australia term deposit review

Overall rating   9 / 10

Automated banking was supported by a telephone consutant explanining the terms to my full satisfaction

Full review

Automated banking was supported by a telephone consutant explanining the terms to my full satisfaction

    Price   9 / 10

    Features   / 10

    Customer service   9 / 10

    Convenience   6 / 10

    Trust   9 / 10

Less

Mozo reviewer (VIC), reviewed almost 8 years ago

Bank Australia

Bank Australia term deposit review

Overall rating   8 / 10

    Price   7 / 10

    Features   / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   8 / 10

Less

Mozo reviewer (VIC), reviewed about 8 years ago

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Term deposit comparisons on Mozo Rates updated daily

  • ING DIRECT Term Deposit

    ING DIRECT Term Deposit

    • No ING DIRECT fees
    • Deposit from $10K to $5 million
    • Loyalty Bonus Rate on rollover

    interest rate*

    3.00% p.a.
    1 year

    Go to site

    More info

    • No ING DIRECT fees
    • Deposit from $10K to $5 million
    • Loyalty Bonus Rate on rollover
    • Minimum deposit: $10,000
    • Maximum deposit: $5,000,000
    • Can interest be paid to another bank?: yes
    • Automatic rollover: yes
    Overall rating

    8.7

    Based on 55 ING DIRECT term deposit reviews

    Need more information?
    Go to site

    More info

  • Citibank Term Deposit

    Citibank Term Deposit

    • Minimum investment $75,000, 31 day notice period applies
    • No establishment or account keeping fees
    • Feel secure in your investment, with guaranteed returns at maturity.

    interest rate*

    2.95% p.a.
    6 months

    Go to site

    More info

    • Minimum investment $75,000, 31 day notice period applies
    • No establishment or account keeping fees
    • Feel secure in your investment, with guaranteed returns at maturity.
    • Minimum deposit: $75,000
    • Maximum deposit: $2,000,000
    • Can interest be paid to another bank?: no
    • Automatic rollover: yes
    Overall rating

    9.0

    Based on 3 Citibank term deposit reviews

    Need more information?
    Go to site

    More info

  • Bank Australia Term Deposit

    Bank Australia Term Deposit

    • High interest rate
    • Short investment term of 3 months for investments over $5K
    • Interest paid at maturity

    interest rate*

    2.85% p.a.
    2 years

    Go to site

    More info

    • High interest rate
    • Short investment term of 3 months for investments over $5K
    • Interest paid at maturity
    • Minimum deposit: $5,000
    • Maximum deposit: $500,000
    • Can interest be paid to another bank?: no
    • Automatic rollover: yes
    Overall rating

    6.3

    Based on 3 Bank Australia term deposit reviews

    Need more information?
    Go to site

    More info

  • Bankwest Online Term Deposit

    Bankwest Online Term Deposit

    • No fees
    • Invest anything from $1,000 to $5 million
    • 100% secure online application process

    interest rate*

    2.70% p.a.
    6 months

    Go to site

    More info

    • No fees
    • Invest anything from $1,000 to $5 million
    • 100% secure online application process
    • Minimum deposit: $1,000
    • Maximum deposit: $5,000,000
    • Can interest be paid to another bank?: yes
    • Automatic rollover: yes
    Overall rating

    7.7

    Based on 47 Bankwest term deposit reviews

    Need more information?
    Go to site

    More info

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