The 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 5.10% p.a. for 6 month.
There are a range of term options (1-13 months) available with the 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 1.25% p.a. for a 1-month term, but if you plan to lock away your savings for six months, the interest rate on offer jumps to 5.10% 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.
The Bank of Sydney 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.
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.
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1.25% p.a. ($1,000 to $1,000,000) |
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1.50% p.a. ($1,000 to $1,000,000) |
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4.80% p.a. ($1,000 to $1,000,000) |
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4.00% p.a. ($1,000 to $1,000,000) |
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4.00% p.a. ($1,000 to $1,000,000) |
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5.10% p.a. ($1,000 to $1,000,000) |
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4.95% p.a. ($1,000 to $1,000,000) |
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4.95% p.a. ($1,000 to $1,000,000) |
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5.00% p.a. ($1,000 to $1,000,000) |
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4.80% p.a. ($1,000 to $1,000,000) |
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4.80% p.a. ($1,000 to $1,000,000) |
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4.90% p.a. ($1,000 to $1,000,000) |
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4.80% p.a. ($1,000 to $1,000,000) |
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$1,000.00 |
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$1,000,000.00 |
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no |
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yes |
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none |
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none |
Different interest rates apply to different amounts or different interest payment frequencies.
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