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Bank of Sydney Term Deposit Online Exclusive

Advertiser disclosure
Best rate (up to 1 year)
0.62% p.a.7 months
Minimum deposit
$1,000.00
Interest paid to another bank?
no

Mozo editorial review Bank of Sydney Term Deposit Online Exclusive - last updated: 26 November 2021

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What's hot
  • Interest rate of 0.62% p.a. for a 7-month term
  • No account fees
What's not
  • Interest can’t be paid to another bank
Mozo snapshot

The Online Term Deposit from Bank of Sydney offers a range of options for savers happy to lock their savings away over the short-term, with terms available from 1-13 months and interest rates up to 0.62% p.a. (for a 7-month term).

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Key features

There are a range of term options (1-13 months) available with the Online Term Deposit from Bank of Sydney, meaning you have plenty of choice when it comes to how long you want to keep your savings stashed away. 

As for rates, they start at 0.10% p.a. for a 1-month term, but if you plan to lock away your savings for seven months, the interest rate on offer jumps to 0.62% p.a. You'll need a minimum deposit of at least $1,000 to open an account, and interest can be earned on balances up to $500,000. 

There are no account keeping fees and interest is paid out once the term deposit reaches maturity, but just remember that rollover is automatic, so make sure you let the bank know what you want to do before your deposit matures.

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Who is it good for

The Bank of Sydney Online Term Deposit could be a competitive option for Aussies who want to lock in their savings with a guaranteed rate for a short period of time. 

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Any catches

As with most term deposits, there’s a minimum investment amount of $1,000. It's also worth pointing out that interest can’t be paid to another bank, so you’ll need to have an account with Bank of Sydney to take advantage of this deal.

Details

Rates and fees information correct as at 30 November 2021. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

0.15% p.a. ($1,000 to $500,000)

0.20% p.a. ($1,000 to $500,000)

0.35% p.a. ($1,000 to $500,000)

0.40% p.a. ($1,000 to $500,000)

0.60% p.a. ($1,000 to $500,000)

0.45% p.a. ($1,000 to $500,000)

0.62% p.a. ($1,000 to $500,000)

0.45% p.a. ($1,000 to $500,000)

0.50% p.a. ($1,000 to $500,000)

0.45% p.a. ($1,000 to $500,000)

0.45% p.a. ($1,000 to $500,000)

0.45% p.a. ($1,000 to $500,000)

0.45% p.a. ($1,000 to $500,000)

Other financial bits

$1,000.00

$500,000.00

Features

no

yes

none

none

Different interest rates apply to different amounts or different interest payment frequencies.

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